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Vanguard Australia has announced fee changes to its personal investor platform, which included the removal of the account fee for Vanguard exchange traded funds (ETFs), managed funds and the cash account from 18 August.
At the same time, Vanguard said a $9 brokerage fee would apply for trades of all listed investments including ETFs.
The firm said that the launch of the platform in April 2020 allowed it to closely observe investing behaviours amid a period of COVID-induced market volatility and these fee changes were being introduced as part of its ongoing commitment to keep costs low.
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Sonya Sawtell-Rickson, HESTA chief investment officer (CIO), said his appointment would continue to build on the internalisation program that would see management of fixed interest and cash begin to shift in-house in 2022.
“Stephen will be leading the next phase of our internalisation journey, as we move to internally manage fixed interest and cash instruments,” Sawtell-Rickson said.
“It’s exciting to have Stephen come on board as he has a proven track record of investing significant portfolios, managing highly successful teams and leading strategic thinking.”
Howard said he looked forward to joining HESTA and being part of an innovative and leading investment team with strong growth plans.
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The latest in financial #AdviserTech April 2021
The big news, announcements and underlying trends emerging in the world of technology solutions for financial advisers!
April 19, 2021 35 MINS
This month’s edition kicks off with the big news that AssetMark has acquired UK financial planning software provider Voyant for $145 million, with plans to bring the planning software as a new competitor to the U.S. (in addition to likely integrating it deeply into AssetMark’s own technology stack)The deal highlights both the ongoing rise of financial planning, the dearth of new financial planning competitors with enough market share for strategic acquirers, and the reality that financial planning software continues to be an appealing synergistic value-add not only to investment-centric firms offering financial planning but also asset managers and TAMPs trying to expand into working with more planning-centric advisers.