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.
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