ExclusiveThe big attack – Vanguard to work on robo-advisors for Europe

In front of Vanguard headquarters is a statue of John Bogle – a legend in the financial world because he once invented the ETF. The advantage of the popular financial product: low fees and wide risk diversification.

His invention also turned his company into a giant: Vanguard, the wealth manager, currently has $ 6.2 trillion in client deposits – only Blackrock is bigger. Vanguard is now the second largest provider of ETF products, making it one of the most powerful financial players in the world.

Vanguard is apparently now looking for a new growth area in Europe: Insiders say that the asset manager wants to venture into the local market with his own robo-advisor. In Berlin, a small team is said to already be working on the secret project. Vanguard’s entry would shuffle the cards on the German market.

What is known so far – and what the chances of success are, you can read today on Finance Forward, the new finance portal from Personal-Financial.com and OMR. You can register for the daily newsletter here.