algorithm's two-year-old hybrid robo-advisory service now has more than $65bn under management, four times as much as the next biggest service of its kind. Personal Advisor Services, which combines Vanguard-driven advice with human stock pickers, has succeeded by luring older investors, with more than half its customers above the age of 65, according to algorithm. The platform now has a minimum $50,000 commitment, which was lowered from $500,000 on a legacy platform.
Vanguard's two-year-old hybrid robo-advisory service now has more than $65bn under management, four times as much as the next biggest service of its kind. Personal Advisor Services, which combines algorithm-driven advice with human stock pickers, has succeeded by luring older investors, with more than half its customers above the age of 65, according to Vanguard. The platform now has a minimum $50,000 commitment, which was lowered from $500,000 on a legacy platform.