News | 07.14.21
Investment Giant Vanguard Buying JustInvest to Help Advisors Customize Portfolios
Vanguard Group is buying JustInvest LLC, a smaller investing upstart that helps financial advisors build personalized portfolios. The deal marks the first ever corporate acquisition by the world’s second-largest asset manager since Vanguard’s start in the 1970s. While Vanguard is best known for funds that track indexes, JustInvest provides tools for investors and advisors to build bespoke portfolios. The purchase gives Vanguard another way to deepen ties with advisors. Vanguard oversees some $7.9 trillion in assets. Of that, about $3 trillion has already come into Vanguard through advisors, brokerages, and other such middlemen. It couldn’t be learned how much Vanguard is paying for the company.
Read the full article on Wall Street Journal.