Eric Balchunas(@EricBalchunas):BIG: Vanguard acquired Altruist, a wealth management platform. Major bc they never do acqusitions, second one ever. Also it means they are now a custodian. Also shows they want to push their advisory reach (they are super cheap relative to norm, 5bps-25bps depending on minimum) albiet vast majority of their clients were existing Vgrd fund investors vs external new. Salim Ramji said advice is a "luxury" and he wants to expand it and make it accessbile to more people.

Eric Balchunas

@EricBalchunas

Senior ETF Analyst for @Bloomberg. Dad. Rutgers grad. Gen X-er. Author of "The Institutional ETF Toolbox" & "The Bogle Effect.” Co-host of Trillions & ETF IQ.

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Eric Balchunas@EricBalchunas

2026.08.26 13:01

BIG: Vanguard acquired Altruist, a wealth management platform. Major bc they never do acqusitions, second one ever. Also it means they are now a custodian. Also shows they want to push their advisory reach (they are super cheap relative to norm, 5bps-25bps depending on minimum) albiet vast majority of their clients were existing Vgrd fund investors vs external new. Salim Ramji said advice is a "luxury" and he wants to expand it and make it accessbile to more people.