As of 31 Dec, Vanguard's hybrid robo-advisory platform, Vanguard Personal Advisor Services, reached $31bn AUM, an increase of 46% since the end of June. The steep acceleration occurred as the platform emerged from beta status in May and upgrades were completed. Vanguard Personal Advisor Services' charges are at the top end of the robo-advisory scale at 30bp, however, the services blends its automated service with human interaction, giving clients the option of contact with one of 300 financial advisers on hand to help clients create a financial plan. In addition to these two services, Vanguard has also launched a new product called Vanguard Personal Advisor, which is aimed at millennials who want more control over their finances.
As of 31 Dec, Vanguard's hybrid robo-advisory platform, Vanguard Personal Advisor Services, reached $31bn AUM, an increase of 46% since the end of June. The steep acceleration occurred as the platform emerged from beta status in May and upgrades were completed. Vanguard Personal Advisor Services' charges are at the top end of the robo-advisory scale at 30bp, however, the services blends its automated service with human interaction, giving clients the option of contact with one of 300 financial advisers on hand to help clients create a financial plan. In September last year, Vanguard announced plans to enter the robo-advisory market in the UK.