Vanguard Group has grown to $3.4 trillion in assets by dominating sales of low-cost index mutual funds, the ultimate do-it-yourself investments. Now it’s seized an early lead in a new business: inexpensive financial advice.
Automated, Web-based “robo advisers” such as the startups Betterment and Wealthfront have attracted a lot of attention in the investment industry. But Vanguard’s new Personal Advisor Services platform, which combines tech with human advisers reached by phone or video chat, is drawing more money.
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