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.
Relationships are key to our business but advisors are often slow to engage in specific activities designed to foster them.
Whichever path you go down, act now while you're still in control.
Pro-bitcoin professionals, however, say the cryptocurrency has ushered in change.
“LPL has evolved significantly over the last decade and still wants to scale up,” says one industry executive.
Survey findings from the Nationwide Retirement Institute offers pearls of planning wisdom from 60- to 65-year-olds, as well as insights into concerns.
Streamline your outreach with Aidentified's AI-driven solutions
This season’s market volatility: Positioning for rate relief, income growth and the AI rebound
