Vanguard Introduces New Financial Advice Service for American Express U.S. Consumer Card Members

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Apr 12, 2022, 09:28 ET

American Express Membership Experience Expands to Meet the Broader Financial Needs of its Members

VALLEY FORGE, Pa. and NEW YORK, April 12, 2022 /PRNewswire/ -- Vanguard and American Express today announced a new Vanguard financial advice service to be offered exclusively to eligible American Express U.S. Consumer Card Members.¹ INVEST for Amex by Vanguard features Vanguard's digital financial planning and investment management expertise coupled with American Express' differentiated rewards. The service will also include access to Vanguard financial advisors.

Vanguard consistently looks for ways to reduce cost and complexity for investors and strongly believes that advice can help clients achieve better financial outcomes. With access to Vanguard's time-tested financial planning and investment expertise, the service supports American Express' commitment to expand and innovate the Membership experience with unique and high-quality rewards for its Card Members.

"Advice is a powerful accelerant for investment success, providing coaching and guidance to help investors avoid financial pitfalls, build wealth, and fulfill their long-term goals," said Tim Buckley, Vanguard Chairman and CEO. "As Vanguard seeks to make our advice more accessible, we are excited to team up with the distinguished brand of American Express to deliver on our mission to give investors the best chance for investment success."

"Our collaboration with Vanguard demonstrates the power of partnership as we come together to deliver access to a transparent and trusted service to help our Card Members reach their financial goals," said Stephen J. Squeri, American Express Chairman and CEO. "American Express continually innovates to provide differentiated value and services to our customers and INVEST extends our reach beyond their everyday needs helping them plan for the future."

INVEST for Amex by Vanguard will feature Vanguard's financial planning and advice methodology, along with:

An intuitive and dynamic digital experience paired with the guidance of a Vanguard financial advisor. INVEST clients can schedule one planning phone consultation within their first year of enrollment. INVEST clients with at least $100,000 in advised assets will have unlimited access to Vanguard advisor consultations.
Personalized, goals-based financial plans and sophisticated portfolio management. Vanguard's service will create a customized investment strategy based on INVEST clients' unique circumstances and goals, and provides ongoing management of portfolios constructed with low-cost, diversified Vanguard ETFs.
Comprehensive features coupled with extra rewards. Clients with at least $50,000 in taxable assets managed by INVEST² will be eligible to earn rewards annually. INVEST clients with an American Express® High Yield Savings Account will also be eligible to receive a cash bonus in their Savings Account.³

Vanguard has provided financial planning and wealth management services directly to clients for more than a quarter of a century. Including the addition of INVEST for Amex by Vanguard, Vanguard offers a spectrum of advice services to help investors achieve better financial outcomes. Vanguard Personal Advisor Services, the firm's industry-leading hybrid advice service,⁴ launched in 2015 and combines sophisticated and customized portfolio management, extensive financial planning capabilities, and the behavioral coaching of a financial advisor. In 2020, the firm introduced Vanguard Digital Advisor to deliver personalized, convenient, and affordable advice in an all-digital format.

INVEST for Amex by Vanguard will feature an investment minimum of $10,000 and an annual gross advisory fee of 0.50%,⁵ with advisory fees waived for the first 90 days for first-time enrollees.

The service is available in beta today and will continue to evolve with new features in the coming months. Terms and limitations apply. More information about INVEST for Amex by Vanguard can be found here.

Advice services are provided by Vanguard Advisers, Inc. ("VAI"), a registered investment advisor. VAI is a subsidiary of The Vanguard Group, Inc.

American Express ("Amex") is a non-client promoter of INVEST. Amex is not affiliated with VAI. Amex receives a portion of Vanguard's advisory fee for those clients who invest. Visit INVEST Benefits Terms to learn more about the relationship between American Express and Vanguard.

About Vanguard
Founded in 1975, Vanguard is one of the world's leading investment management companies. The firm offers investments, advice, and retirement services to individual investors, institutions, and financial professionals. Based in Valley Forge, Pennsylvania, Vanguard has offices worldwide and managed $8.0 trillion on behalf of 30 million clients as of February 28, 2022. Vanguard operates under a unique, investor-owned structure where Vanguard fund shareholders own the funds, which in turn own Vanguard. As such, Vanguard adheres to a simple purpose: To take a stand for all investors, to treat them fairly, and to give them the best chance for investment success. For more information, visit vanguard.com.

About American Express
American Express is a global services company, providing customers with access to products, insights and experiences that enrich lives and build business success. Learn more at americanexpress.com and connect with us on facebook.com/americanexpress, foursquare.com/americanexpress, linkedin.com/company/american-express, twitter.com/americanexpress and youtube.com/americanexpress.

For more information about Vanguard funds, visit vanguard.com to obtain a prospectus or, if available, a summary prospectus. Investment objectives, risks, charges, expenses, and other important information about a fund are contained in the prospectus; read and consider it carefully before investing.

All investing is subject to risk, including the possible loss of the money you invest. Diversification does not ensure a profit or protect against a loss.

Vanguard ETF Shares are not redeemable with the issuing Fund other than in very large aggregations worth millions of dollars. Instead, investors must buy and sell Vanguard ETF Shares in the secondary market and hold those shares in a brokerage account. In doing so, the investor may pay more than net asset value when buying and receive less than net asset value when selling. VAI typically will invests client assets in a portfolio of Vanguard ETFs^®, all of which are commission-free through Vanguard brokerage accounts.

VAI is a subsidiary of VGI and an affiliate of VMC. Neither VAI nor its affiliates guarantee profits or protection from losses.

Vanguard Marketing Corporation, Distributor.

¹ INVEST is limited to basic American Express Card Members with a Consumer Card issued by American Express National Bank who have a permanent residence in the 50 United States, the District of Columbia, and the US Virgin Islands or have an APO/FPO/DPO mailing address and who are not a control person. Additional Card Members are not eligible to enroll in INVEST. Enrollment in INVEST requires you to have an eligible Vanguard brokerage account(s) and a total balance of $10,000 to be managed by INVEST. Terms apply.

² Taxable assets include assets in Vanguard brokerage accounts enrolled in INVEST and held individually or jointly (i.e. joint tenants with rights of survivorship (JTWROS)), but do not include assets in traditional or Roth individual retirement accounts. Terms apply.

³ American Express High Yield Savings account holders will be eligible to receive an annual cash bonus based on the average daily balance in their Savings account over the 12 months prior to their INVEST anniversary - that's $15 for every $10,000 in an American Express Savings account, up to $75 annually. Limit one bonus per American Express Savings account. American Express High Yield Savings Accounts are offered by American Express National Bank, Member FDIC. Terms apply.

⁴ Vanguard Personal Advisor Services advises $268 billion as of March 31, 2022. Per Morningstar's 2022 Robo Advisor Landscape, which assesses Vanguard Personal Advisor Services and Digital Advisor.

⁵ This gross advisory fee is reduced by a credit of the actual revenue that Vanguard, or its affiliates, retains from certain assets in brokerage accounts enrolled in INVEST, resulting in a net advisory fee. Terms apply.

SOURCE Vanguard