Vanguard is pushing into Fidelity's turf.
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Vanguard CEO Salim Ramji. Photo: Michael Nagle/Bloomberg via Getty Images
Vanguard Group on Wednesday announced an agreement to acquire Altruist, a California-based provider of software for registered investment advisors.
Why it matters: Vanguard is seeking to expand deeply into lucrative advisory work — competing with firms like Fidelity and Schwab — despite being best known for its low cost index funds.
Vanguard strikes deal for fintech platform Altruist
Vanguard to acquire fintech platform Altruist for $4 billion
Vanguard Takes On Fidelity, Charles Schwab With $4 Billion Altruist Deal
Vanguard to acquire Altruist in bet on AI-powered financial advice
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Aug 26 : Vanguard Group said on Wednesday it would acquire fintech platform Altruist, giving the asset manager greater access to…
The deal would give the $12 trillion asset manager a larger foothold in independent financial advice through Altruist's custody…
Vanguard bolsters its wealth custody, advisory offerings with a reported $4 billion acquisition for AI-forward platform Altruist.
Vanguard is acquiring Altruist in a push to strengthen technology for independent advisors and expand access to financial advice.
Vanguard Buys Wealth Management Platform Altruist in $4 Billion Deal
The brokerage firm, long averse to crypto, will let traders buy and sell blockchain-wrapped funds.
