WSJ News Exclusive | Investment Giant Vanguard Buying JustInvest to Help Advisers Customize Portfolios
The asset manager’s first corporate acquisition gives it another way to deepen ties with advisers.
✒ Vanguard, the world’s second largest asset manager overseeing $7.9tn worth of assets, has made the first acquisition in its 46-year history, with JustInvest, a boutique that has $1bn AUM and builds bespoke portfolios for individual investors.
The acquisition will help Vanguard push into the growing part of the asset management: direct indexing — which allows investors / advisors to tweak existing indices to create bespoke portfolios.