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. The company has been working on the project for several years and recently announced it had raised $22 million in funding from investors including Andreessen Horowitz, General Catalyst Partners, Kleiner Perkins Caufield & By@@ 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.