Vanguard acquires Altruist and becomes a custodian, Eric Balchunas notes

Vanguard acquires Altruist and becomes a custodian, Eric Balchunas notes
Vanguard acquires Altruist and becomes custodian

Eric Balchunas, senior ETF analyst at Bloomberg Intelligence, reports that Vanguard has acquired Altruist, a wealth management platform.

This move marks only the second acquisition in Vanguard's history and signals a new step for the company as it becomes a custodian. Balchunas also points out that Vanguard is aiming to expand its advisory reach, highlighting its position as a low-cost provider with fees ranging from 5 to 25 basis points depending on minimums.

Balchunas has previously covered developments in the ETF sector, including VolShares’ filing for exchange-traded funds that track performance across 32 NHL teams, with returns calculated from game outcomes and futures contracts using a team index (read more). In another report, he detailed Goldman’s planned acquisition of BTCI in the Neos deal, which adds a $1 billion bitcoin premium income ETF featuring a 27% yield and positions Goldman to compete with BlackRock (see details). These reports highlight Balchunas’s ongoing coverage of both traditional and crypto-linked ETF strategies.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.