“Just Invest’s capabilities in large-scale data analysis, quantitative algorithms and risk modeling will augment Vanguard’s $3 trillion financial intermediary business, serving registered investment advisers, bank and broker-dealer financial advisers.” Vanguard said in a release.
Direct indexing can offer tax optimization benefits and serve as a values-based investing tool, Vanguard said, adding that the direct indexing tools it will offer after the acquisition will build on a pilot program that it has been offering to its registered investment adviser clients over the past year and a half that is powered by Just Invest.
The purchase, terms of which were not disclosed, is expected to be completed in the fourth quarter.
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Andrew is half-human, half-gamer. He’s also a science fiction author writing for BleeBot.