Vanguard Group Inc. will give some American Express Co. credit-card customers access to financial advice, a business the fund manager is working to build up.
Clients in the program, called Invest for AmEx by Vanguard, can schedule one financial-planning phone call in their first year of enrollment, and those with at least $100,000 in advised assets get unlimited access to Vanguard advisory services, the Valley Forge, Pennsylvania-based firm said in a statement Tuesday.
The agreement pairs two very different brands: Vanguard is a paragon of low-cost, index-based investing, while New York-based American Express is known for its points programs with perks for travel, dining and shopping. The new program has an investment minimum of $10,000 and an annual gross advisory fee of 0.5%, with fees waived for the first 90 days for new members.
“As Vanguard seeks to make our advice more accessible, we are excited to team up with the distinguished brand of American Express to deliver on our mission to give investors the best chance for investment success,” Vanguard Chief Executive Tim Buckley said in the statement.
Vanguard oversaw $8 trillion on behalf of 30 million clients as of the end of February.
From outstanding individuals to innovative organizations, find out who made the final shortlist for top honors at the IN awards, now in its second year.
Cresset's Susie Cranston is expecting an economic recession, but says her $65 billion RIA sees "great opportunity" to keep investing in a down market.
“There’s a big pull to alternative investments right now because of volatility of the stock market,” Kevin Gannon, CEO of Robert A. Stanger & Co., said.
Sellers shift focus: It's not about succession anymore.
Platform being adopted by independent-minded advisors who see insurance as a core pillar of their business.
RIAs face rising regulatory pressure in 2025. Forward-looking firms are responding with embedded technology, not more paperwork.
As inheritances are set to reshape client portfolios and next-gen heirs demand digital-first experiences, firms are retooling their wealth tech stacks and succession models in real time.
