Vanguard has rolled out a new hybrid personal advice service for individual investors with assets of $50,000 or more available for a managed portfolio.
The new Vanguard Personal Advisor Services will combine an ongoing relationship with an advisor, a user-friendly online experience, and sophisticated investment modeling technology.
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The personal advisor will be available at an annual advisory cost of 0.30% of a client’s managed assets or $150 on a $50,000 portfolio annually.
The new offering will create custom financial plans for clients based on attitude to risk, objectives and time horizons and will monitor the portfolios.
Personal advisor will focus on retirement planning by providing each client, who are in or nearing retirement, with a customized tax-sensitive, total-return drawdown strategy that aligns with their unique financial goals.
Vanguard Personal Advisor Services head Karin Risi said: "We value the role that an advisor plays in helping our clients achieve better results. In fact, Vanguard’s Advisor’s Alpha research quantifies the key role an advisor plays in constructing a portfolio and serving as a behavior coach.
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By GlobalData"In particular, an advisor can act as an emotional circuit breaker during periods of market volatility, make adjustments to a financial plan when a client’s financial situation changes, and counsel clients on other financial issues."
