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Vanguard Takes On Fidelity, Charles Schwab With $4 Billion Altruist Deal

Vanguard announced a $4 billion deal to acquire Altruist, an AI-forward wealth management platform and custodian for independent financial advisors, aiming to bolster its advisory offerings and compete with Charles Schwab and Fidelity. Charles Schwab stock retreated Wednesday following the announcement.

read1 min views1 publishedAug 26, 2026
Vanguard Takes On Fidelity, Charles Schwab With $4 Billion Altruist Deal
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Vanguard on Wednesday announced a $4 billion deal to acquire Altruist as the investment management firm looks to bolster its financial advisory offerings to better compete with the likes of Charles Schwab and Fidelity. Charles Schwab stock retreated Wednesday. Vanguard on Wednesday said it reached a deal to acquire Altruist, an AI-forward wealth management platform and custodian for independent financial…

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