Vanguard Announces Partnership With Ant Financial To Bring Wealth Management Services To Consumers In China

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Dec 24, 2019, 10:07 EST

Dec 24, 2019, 10:07 /Comserve / -- The companies plan to combine their expertise in technology and investment management to bring investment advisory services to investors in China

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Vanguard, an asset management company based in the U.S., announced a joint venture with Ant Financial Services Group, the company operating the world’s largest payment and lifestyle platform, Alipay. The partnership would bring a new modernized and widely-available investment advisory service to the retail consumers in the country. The combination of Vanguard’s knowledge in investment management and advisory services with Alipay’s technologies is expected to form a fund investment advisory service to Chinese investors. This has received approval from the China Securities Regulatory Commission (CSRC).

The joint venture of Vanguard and Alipay will provide personalized advisory services to investors with minimum investments of approximately USD 113 on the basis of their time horizon, investment objectives along with risk preferences which will be accessible through Ant Fortune, a wealth management platform run by Ant Financial, along with Alipay. Formerly, only a small number of individuals with a high net worth were able to access these professional investment advisory services in China.

Vanguard has aided the asset management industry in the United States by reducing the cost along with the complexity of investing. The company ensures success in terms of investment and is known for bringing low cost and high quality solutions to over 30 million investors from all across the globe.

On the other hand, Alipay has been serving more than 1.2 billion people around the world by providing users with a broad range of services that are required by them in daily life, including hailing cabs, making doctor’s appointments and paying bills among several others. The platform is a provider of innovative technology that aims to bring improved financial services to its users.

Independent Writer

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Jackie Hurtado

News Updates on Industries
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