Vanguard Personal Advice Services® combines the benefits of having a Certified Financial Planner™ professional in your corner with the cost efficiencies of using leading-edge technology for the technical aspects of portfolio management, as CEO Tim Buckley explains here. An advisor is your investing partner for the long term; someone who’ll get to know your priorities, answer your questions, strategize about college savings or retirement planning–and can coach you through periods of markets turbulence, life changes, or whatever else may come along.

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Rebecca Katz: I have about five questions and they’re all the same, “Please explain Vanguard’s advice services. What are the advantages of Vanguard’s personal advice services? What do Vanguard’s financial advisors do for their clients?” Lots of interest in this topic. Tim, do you want to elaborate?

Tim Buckley: On Personal Advisor Services? Sure. I’ll use the acronym PAS and talk about what it is and the value you get. The thing about PAS is taking the best of technology and the best of a Certified Financial Planner™ professional. We leverage technology to help set your asset allocation, rebalance your portfolio, do all the rote things, the tax-loss harvesting you talked about. We’ve automated all of those. The tax drawdowns, do it efficiently and do it effectively. And by automating it, we can bring the costs way down. Where most people will charge 1% to run the portfolio, we’ll do it for 0.3%, 0.3. And you still get a person with that. So it’s not just a robo answer; you get a Certified Financial Planner professional who can help customize your answer. Can understand what your goals are, what you’re trying to achieve.

If you’re in retirement and you want to start a bike shop, you want to buy that extra home, should you do it, should you not? They can help you think through that. They can help you think through what you do for your kids. That’s the added advantage of having a person. They also will be that coach when you want to do something silly. When the markets are taking off or tanking, they will be that emotional coach for you. So they play a big role, but that’s essentially what you’re getting—the best of technology and the best of a Certified Financial Planner professional combined together.

Important Information

Investments in stocks or bonds issued by non-U.S. companies are subject to risks including country/regional risk and currency risk.

Tax-loss harvesting involves certain risks, including, among others, the risk that the new investment could perform worse than the original investment, and that transaction costs could offset the tax benefit. There may also be unintended tax implications. We recommend that you consult a tax advisor before taking action.

This webcast is for educational purposes only and does not take into consideration your specific circumstances or other factors that may be important in making investment decisions. We recommend that you consult a tax or financial advisor about your individual situation.

Advice services are provided by Vanguard Advisers, Inc., a registered investment advisor, or by Vanguard National Trust Company, a federally chartered, limited-purpose trust company.

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