Vanguard restructures wealth management business to enhance client services
ft.com —
Vanguard is restructuring its $900 billion wealth and advice business into a separate unit to enhance investment and meet growing client demand. This change is part of a broader strategy under new CEO Salim Ramji, marking the firm's largest overhaul in over a decade. The new unit will focus on personalized advice, expanding access by lowering minimum account requirements. Joanna Rotenberg, a former executive at Fidelity, will lead the new division, which aims to improve client experience and streamline services. The restructuring will also merge corporate retirement services with those for outside advisers. Vanguard plans to enhance its offerings in active fixed income and cash products as it approaches its 50th anniversary in 2025.