Vanguard has unveiled its ‘robo' advice offering in the US, which provides portfolio management for investors with minimum assets of $50,000 and charges as little as 30bps per annum.
Its hybrid 'Personal Advisor Services', which combines an online offering with adviser assistance, offers investors access to Vanguard's suite of funds only. The provider has lowered the minimum investment requirement to $50,000 (£32,800) from $100,000. Investors are charged an annual fee of 30bps on managed assets, before fund expenses which range between 5bps and 19bps. The rise of automated advisory services has been marked in the US, while parallel services in Europe have been slow to develop. However, there have been launches in the space including Wealth Horizon, which unveiled ...
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