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How exactly Vanguard Group -- with a dash of robo and lots of mojo -- went from a virtual unknown in wealth management to posing a threat to Merrill Lynch

The fund giant has 250 CFPs on staff for VPAS in Malvern, Charlotte and Scottsdale and virtually no minimum or maximum client size

Author Brooke Southall July 14, 2014 at 12:00 AM
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Karin Risi: To the extent there's conflict, it's always been there.

Stephen Winks

Stephen Winks

July 14, 2014 — 7:32 PM

Will Vanguard assume fiduciary responsibility for each client as an advisor as well act in a fiduciary capacity as a money manager? If so, it is an industry first. A conflict exists in Vanguard acting as an advisor and manager. Will VanGuard advisor ever fire Vanguard manager? Same for Schwab. Isn’t an objective intermediary (the advisor) required?




July 19, 2014 — 2:22 PM
Just some simple math. $50,000 account at 0.30% is $12.50 in monthly revenue. Twelve dollars and fifty cents. Funny to hear Wealthfront talk about Vanguard not having to make a profit given that they still need to triple in size just to get to breakeven. Meanwhile, an advisor with a few connections can get perhaps 20 accounts (at much higher account size) and instantly generate an income without taking outside investment.

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Wealthfront's unlikely tapping of Sheila Bair and Tom Curry signals likely push to gain a bank charter, analysts say

The Redwood City robo-advisor's addition of two renowned former chief banking regulators brings legitimacy and guidance that could lead to a margin-fattening bank charter and help solve the robo-advisor's problem of high client acquisition costs.

December 31, 2020 at 4:37 AM

Karin Risi, who built $170-billion Vanguard Personal Advisor Services, takes new role and Matt Benchener is taking her spot as head of US retail for the $6.3 trillion manager

Risi now heads planning and still directly reports to CEO Tim Buckley and her 34 year-old understudy, Benchener gets her job at year's end.

December 4, 2020 at 2:56 AM

Brouwer & Janachowski gets its rainmaker --the former head of $18-billion Bernstein office -- in a 'grand experiment' to grow from $1.7 billion to $5 billion in AUM

The $1.7 billion Mill Valley, Calif.-based RIA signs on Tony Orme, a player/coach who will work with existing advisors as well as handling high-end clients himself.

January 6, 2020 at 6:32 PM

Infamous stockbroker resolves civil suit stemming from violent tirade -- the apparent final chapter in an incident that went viral and forever branded him the 'Fairfield Smoothie Guy'

Broker Jim Iannazzo went all out with high-powered attorneys and slick Las Vegas crisis pr team to limit the damage from his actions, but whether he can ever live down the incident remains to be seen.

September 1, 2022 at 5:11 AM

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