FT News Briefing Vanguard doubles down on wealth management
22 snips
Dec 10, 2024 The UK faces a sharper decline in hiring compared to other economies, raising concerns about its job market. Vanguard is restructuring to boost its advisory services amid growing competition, while Japan is ambitiously trying to become a semiconductor power with its new Rapidus initiative. Tensions rise in the Middle East as Israel expands its territory, provoking a strong reaction from Egypt. Additionally, the evolving landscape of financial services highlights a competitive rivalry between Vanguard and Robinhood.
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UK Hiring Decline
- UK job postings have declined more sharply than other major economies.
- Factors include slow growth, rising wages, and increased employment taxes.
Vanguard's Shift to Advisory
- Vanguard is restructuring to prioritize wealth management and advisory services.
- This reflects a broader industry trend driven by changing investor needs and competitive pressures.
Asset Manager Pressures
- Traditional asset managers face pressure from banks, fintechs, and evolving client needs.
- They are adapting by offering advisory services to enhance client connections and navigate a complex investment landscape.