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| less than a minute read

Vanguard quintuples assets in robo-adviser, leapfrogging competitors

Assets in Vanguard Personal Advisor Services grew to $4.2 billion at the end of the third quarter, At the end of 2013, the pilot program managed only $755 million. By Comparison Wealthfront currently manages $1.7B

Vanguard's model-based service provides investors a financial plan, asset allocation scheme, ongoing monitoring and re-balancing and performance forecasting for 0.3% of portfolio assets annually. The firm also has hired an army of advisers, many of whom are certified financial planners, to work with clients.

Tags

wealth management, robo advice