Indexing giant Vanguard Group plans to launch a robo-advisory service that cuts out human financial advisers completely. Vanguard is pilot-testing the new platform, in a sign of how the world’s second-largest money manager is aiming to capture younger, tech-savvy investors. Vanguard’s robo-advisory push would increase the competition with...
Vanguard is testing a robo-advisory platform that provides a service without any human financial advisers whatsoever. Vanguard Digital Advisor is aimed at younger investors and will compete against Charles Schwab and Betterment with fees of 0.15% or $15 for every $10,000 investment. The new service is in addition to Vanguard's Personal Advisor Service, which combines robo-advisory and personal advisers for clients with a minimum investment of $50,000.