Vanguard acquires Altruist to expand financial advice reach
The AI-forward wealth technology platform will operate independently while integrating with Vanguard’s custody systems to serve more advisors and investors.
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Investment management and financial services company
vanguard.comLast updated
In short: Vanguard celebrated 50 years, agreed to buy Altruist for $4.6 billion, and reached $1 trillion in assets for its S&P 500 ETF (VOO).
The AI-forward wealth technology platform will operate independently while integrating with Vanguard’s custody systems to serve more advisors and investors.
He succeeds retiring Mark Loughridge; John Murphy becomes Lead Independent Director.
The funds simplify access to public and private markets for eligible investors, initially available through Bank of America wealth management.
Oliver Zipse, former BMW CEO, brings global experience. Perold served for over 20 years.
Vanguard Group agreed to buy digital wealth platform Altruist, intensifying its efforts to expand in wealth management.
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