Vanguard Squares Off With Financial Advisors
Jeff DeMaso, editor of the Independent Vanguard Adviser newsletter, explains where Vanguard’s bulked-up wealth management division might be heading.
In this episode of Advisor Insider, host Jeff Benjamin talks with Vanguard-watcher Jeff DeMaso about the Vanguard Group’s latest push into the wealth management space.
Plans to create an Advice & Wealth Management division from the existing advisory platform that already has more than $300 billion under advisement will present increased competition with the financial advisors buying low-cost Vanguard ETFs and mutual funds.
As DeMaso explains, Vanguard is not unique in directly competing with advisors, but if Vanguard’s low-cost reputation extends to the advice business, this will be a game changer.