Vanguard to establish new advice and wealth management division

Asset management firm Vanguard has announced plans to establish a new advice and wealth management division.

The advice and wealth management arm will focus on enhancing a "range of capabilities" aimed at improving outcomes for its clients.

Vanguard’s current wealth management offer sits within its personal investor division.

The new division will be led by Joanna Rotenberg, who will join Vanguard in January 2025 as a managing director and a member of the firm’s senior leadership team.

Rotenberg was most recently Fidelity president of personal investing, leading the company’s retirement, brokerage, and wealth management businesses.

She also spent over a decade as a member of BMO Financial Group’s Executive Committee and was a partner at McKinsey & Company serving clients in wealth and asset management.

Vanguard said that its existing advice and wealth management businesses were among the fastest growing offers within a large and growing industry segment, grounded in its "core philosophy of high-quality, diversified, low-cost solutions" designed to help clients keep more of their return.

Commenting on the announcement, chief executive officer at Vanguard, Salim Ramji, said: "For nearly five decades, Vanguard has been a positive force in democratising investing, helping to give 10s of millions of investors the best chance for investment success.

"With the addition of Joanna to our leadership team, our goal is to further democratise our advice and wealth management offerings for our clients through enhanced technologies and offers – with the same client zeal that Vanguard has long been known for."

Rotenberg added: "I have always admired Vanguard’s unique structure and client-focused mindset.

"I am humbled by the opportunity to lead the new advice & wealth management group and expand Vanguard’s offerings to help more people achieve investment success."

Alongside the creation of the advice and wealth management division, Vanguard also announced a series of appointments and promotions to expand its senior leadership team.

Managing director at Vanguard Institutional Investor Group, John James, has been named as head of workplace and adviser solutions, Vanguard's managing director and chief human resources officer, Lauren Valente, has been appointed as head of the Institutional Investor Group, while Jon Couture will join Vanguard as a managing director and member of the senior leadership team.

"These changes will allow us to sharpen our client focus, advance our digital capabilities to scale our impact, and add to our strong leadership bench,” commented Ramji.

"We welcome Joanna and Jon and congratulate John and Lauren on their new responsibilities."



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