Vanguard rating

Vanguard Wealth Management Review


2024 Vanguard Personal Wealth Management review: advisor fees, pros and cons, performance, account minimum investments. Is it a safe and legitimate firm?


Vanguard Wealth Management Review


Vanguard Group, Inc. offers a variety of financial services including asset management, brokerage services, education, and financial planning through its subsidiaries. This review will focus on its investment-advisory program.


Overview of Vanguard’s Advisory Program


Vanguard provides both discretionary and non-discretionary advisory accounts. These accounts have various minimum investment requirements and fees, managed by different Vanguard subsidiaries. All are registered with U.S. securities regulators like FINRA and the SEC, and are covered by SIPC insurance. Additionally, Vanguard has extra insurance with London Insurers and Lloyd's of London for cases where SIPC coverage is not enough.


Vanguard Wealth Management


Vanguard’s Wealth Management service is for clients who can invest a minimum of $5 million. Clients pay a 0.30% fee on the first $5 million, with even lower fees for larger investments. Despite the low fees, clients receive extensive services, including:

  • Investment management
  • Wealth transfer advice
  • Collaboration with external financial experts
  • Regular financial plan reviews
  • Tax advice
  • Charitable giving assistance
  • Trust services
  • Client events
  • Retirement income planning
  • Behavioral coaching

This premium service also provides access to private equity investments and a dedicated team of financial specialists.


Vanguard Wealth Advisory Review


Vanguard Personal Advisor


For those without $5 million, the Personal Advisor program requires $50,000 to start, with a 0.30% fee. However, this program lacks many of the services available in the Wealth Management program, such as dedicated financial planners, and uses a robo-advisor for investment decisions.

While it lacks some high-end services, it does offer phone consultations with human advisors.


Find a Financial Advisor


If you are looking for a professional money management service in your area, you can find a Financial Advisor on the Wiser Advisor (or read Wiser Advisor review).

Visit Wiser Advisor


Vanguard Personal Advisor Select


The Personal Advisor Select program offers a balance between the other two. It requires $500,000 to start and also charges a 0.30% fee. This plan includes a dedicated advisor and trust services but only allows investments in Vanguard funds.


Vanguard Wealth Management Review


Vanguard Digital Advisor®


Vanguard’s Digital Advisor, for those with less than $50,000, requires just $3,000 to start. It's a robo-advisor like the Personal Advisor program, but with even lower fees, starting at 0.15%. It offers no advisory services but provides tax-loss harvesting and ESG investing options.


Margin


None of Vanguard’s advisory accounts offer margin trading.


Opening an Account


You can start the application process for any of Vanguard’s managed accounts online, but some may require a follow-up call. Vanguard does not have physical branches, so all advisory interactions are online or over the phone.

For assistance, call 855-365-6908 for general inquiries, or 866-327-8915 for Wealth Management.


Vanguard Funds


Vanguard’s advisory accounts primarily invest in its own mutual and exchange-traded funds. While the Wealth Management program occasionally includes private equity, other programs do not offer such diverse options.


Recommendations


Beginners: Vanguard’s advisory accounts are a solid starting point for new investors, especially those that include access to human advisors.

Small Accounts: Vanguard’s $3,000 minimum for the Digital Advisor program is accessible, but other robo-advisors require even less to start.

Equity Trading: Vanguard’s programs are not suitable for active stock trading, which is better handled through firms like Charles Schwab.

Mutual Funds: Vanguard funds are available without transaction fees in its accounts, offering a good option for mutual fund investors.

Long-Term Investors and Retirement Savers: The Wealth Management program is ideal for those with substantial assets and long-term investment goals.


Vanguard Wealth Management Review Judgment


While Vanguard offers a range of advisory services with competitive fees, the limited investment options and lack of physical branches might not suit everyone. Comparing other advisory services might be beneficial, depending on your needs.


Find a Financial Advisor


If you are looking for a professional money management service in your area, you can find a Financial Advisor on the Wiser Advisor (or read Wiser Advisor review).

Visit Wiser Advisor


Updated on 6/26/2024.


About the Author
Arthur Chachuna is a professional personal finance blogger, and the owner of Brokerage-Review.com. He has been an avid investor for 25 years, and has a background in both applied math and programming.