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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.
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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.