Vanguard Personal Advisor Services, the newer value wealth management unit of the mutual fund giant, oversaw $31 billion client dollars as of December 31, 2015. That’s a whopping $10 billion (46%) increase from the $21.2 billion as of June 30, 2015.

This recent acceleration in growth coincides with the division’s emergence from beta status in May 2015 and the technology upgrade that was completed at that time. The upgrade added a stronger automation component to the program, allowing investors to follow the progress of their plans without picking up a phone.

Many have called the Vanguard offering a “hybrid robo advisor service”, but these new upgrades have the program a little more in line with other so-called robo advisors. Still, Vanguard’s offering is unique, and it will be interesting to track how the Vanguard RIA program does compared to the rest of the robo advisors. At least so far, it appears there is plenty of room for all of the parties involved to be successful.

For more recent news on robo-advisors see our archives.

Vanguard’s virtual RIA adds $10 billion in last six-month period, an acceleration to $1.6 billion per month of net new assets by
Tuesday January 12th, 2016