Vanguard to acquire Altruist fintech

Vanguard announced its acquisition of the fintech platform Altruist for approximately $4 billion, aiming to expand its wealth management capabilities and provide more integrated services for independent financial advisors. Altruist will continue to operate as an independent entity under Vanguard’s ownership, with the deal expected to be finalized later this year, in line with the company's strategy to expand into advisory services and wealth management.