Pilot of USD 4.2 Bn....if the big established players make themselves angry....hard for attackers like wealth front to beat them as the IT is easy to build.
The Vanguard Group Inc. has more than quintupled the assets in its human-augmented online advice platform this year, despite the program not yet being made widely available. Assets in Vanguard Personal Advisor Services grew to $4.2 billion at the end of the third quarter, spokeswoman Katie Henderson said Monday. At the end of 2013, the pilot program managed $755 million. The program's fast growth leapfrogs asset-gathering efforts by its competitors, including a raft of start-ups favored by venture capitalists, some of which have partnered with broker-dealers and custodians that work with financial advisers. Wealthfront, a top online offering, manages more than $1.7 billion.