Investment Products and Service Launches

Vanguard Innovation Center to Open in 2017; and Morningstar Launches Open Indexes Project with Free Access to Global Equity Indexes.

By Alison Cooke Mintzer | November 03, 2016
Page 1 of 2 View Full Article

Vanguard Innovation Center to Open in 2017

Vanguard plans to launch a new operation dedicated to meeting the changing needs of its individual, financial adviser, and institutional clients. The Vanguard Innovation Center is scheduled to open during the second quarter of 2017 in Philadelphia’s business and academic center, within proximity to the region’s transportation hubs and Vanguard’s headquarters in Malvern, Pennsylvania.

Vanguard envisions the Innovation Center as an entrepreneurial team of 20 crew members dedicated to “galvanizing existing innovation efforts and serving as a catalyst for new ideas and solutions.” The Center also aims to boost partnerships with other businesses and universities by sharing expertise from research to technology across industries.

Today, more than 90% of Vanguard’s interactions with its 20 million clients occur digitally. In May 2015, the firm launched Vanguard Personal Advisor Services—one of the industry’s first solutions combining robo-advisers based on computer modeling with the judgement of human advisers. 

“We are in the midst of a great technological revolution, from self-driving cars and package-delivering drones to smart phones and 3D-printers, that is changing the way we live, work, and, in Vanguard’s realm, invest. With a centralized, and centrally located, Innovation Center, Vanguard seeks to harness emerging technologies and new processes to create value for our clients by improving their investing experience and their investment outcomes,” says Vanguard CEO Bill McNabb.

NEXT: Morningstar Launches Open Indexes Project with Free Access to Global Equity Indexes