On this page13 sections
- Ratings and complaints
- Vanguard vs. competitors
- Pricing
- Step by step
- Vanguard's financial advice legitimacy and licensing
- How much a Vanguard financial advisor costs
- What you get at each level
- Vanguard complaints and how to avoid problems
- Cancelling and moving your money
- Who should pick something else
- What customers say
- Alternatives
- FAQ
Vanguard's fees are well below the roughly 1% many human advisors charge. It is a legitimate, low-cost place to get investment advice. The tradeoff is how much help you get at each level: under $500,000 you get either a robo-advisor or a hybrid service where you book time with whichever advisor is available, and only Personal Advisor Select gives you one dedicated CFP professional. Phone help runs weekdays only, service reviews are poor, and in August 2025 Vanguard Advisers paid a $19.5 million SEC penalty for telling clients its advisors had no incentive to enroll them while it paid bonuses tied to enrollment.
- Digital Advisor (robo)
- $100 minimum; 0.20% gross a year for all-index portfolios (0.25% with active funds), about $15 to $16 per $10,000 after Vanguard's fund revenue credit; no advisory fee for the first 90 days1
- Personal Advisor (hybrid)
- $50,000 minimum; 0.35% gross for all-index (0.40% with active funds), about $30 to $31 per $10,000 net; access to an advisor team by appointment, not a dedicated advisor2
- Personal Advisor Select
- $500,000 minimum in eligible Vanguard accounts; tiered fee with a 0.30% maximum; dedicated CFP professional3
- Wealth Management
- $5 million minimum; tiered fee, 0.30% maximum; adds estate planning, trust services and private investments1
- Who gives the advice
- Vanguard Advisers, Inc., SEC-registered investment adviser (CRD 106715, SEC 801-49601), Malvern, Pennsylvania; latest Form ADV filed September 24, 20264
- SEC penalty
- $19.5 million civil penalty, censure and cease-and-desist order (August 29, 2025) for contradictory disclosures about bonuses and raises paid to advisors for enrolling clients, August 2020 to December 20235
- Customer service
- Phone Monday to Friday, 8 a.m. to 8 p.m. Eastern; no 24/7 phone or chat and no branches1
- Fees not included
- Advisory fees don't include fund expense ratios; brokerage fees such as $100 to close or fully transfer an account out can apply6
Pros
- Low fees: about 0.15% to 0.16% net for the robo and no more than 0.30% for a dedicated CFP
- $100 robo minimum and a 90-day fee waiver
- Advisors act as fiduciaries under an SEC-registered adviser
- Tax-loss harvesting included in the advisory fee
- Index-based portfolios built with low-cost Vanguard funds
Cons
- No dedicated advisor until $500,000
- Phone support weekdays only, no branches
- $19.5 million SEC penalty in 2025 over advisor incentive disclosures
- Advice only covers accounts held at Vanguard; 401(k)s at other firms, 529s and UTMAs don't count toward minimums
- Very poor Trustpilot score driven by service complaints
Best for: Buy-and-hold investors who want low-cost, index-based management and are fine with a robo or an advisor team until they reach $500,000.
Skip it if: You want one planner who knows your situation at under $500,000, need evening or weekend phone help, or want to trade actively.
Vanguard vs. competitors
| Company | Robo-advisor fee | Team or hybrid advice | Dedicated advisor fee | Dedicated advisor minimum |
|---|---|---|---|---|
| Vanguard | Digital Advisor: 0.20% gross, $100 | Personal Advisor: about 0.30% net, $50,000 | Personal Advisor Select: 0.30% maximum | $500,000 |
| Fidelity | Fidelity Go: $0 under $25,000, 0.35% above | Fidelity Advisory Services: 1.10% gross, $50,000 | 0.50% to 1.50% gross, less a fee credit | Typically $500,000 |
| Charles Schwab | $0 ($5,000 minimum) | Premium CFP tier closed in early 2026 | 0.80% on the first $1 million, tiered down | $500,000 |
| Betterment | $5 a month, or 0.25% | Premium: 0.65%, $100,000 | No dedicated advisor | Not offered |
| Empower | Not compared | Personal Strategy: from 0.89%, $100,000 | Tiered, two dedicated advisors | $250,000 |
Vanguard pricing at a glance
Vanguard advice services, as listed October 20261
| Service | Minimum | Annual advisory fee | Advisor access |
|---|---|---|---|
| Digital Advisor | $100 | 0.20% gross (index), about $15 to $16 per $10,000 net; first 90 days free | None, automated |
| Personal Advisor | $50,000 | 0.35% gross (index), about $30 to $31 per $10,000 net; 0.40% gross with active funds | Advisor team, by appointment |
| Personal Advisor Select | $500,000 | Tiered, no more than 0.30% | Dedicated CFP professional |
| Personal Advisor Wealth Management | $5 million | Tiered, no more than 0.30% | Dedicated CFP plus a team of specialists |
Fund expense ratios are extra. Example: $100,000 in Personal Advisor costs about $300 to $310 a year in net advisory fees, plus fund costs.
Vanguard, step by step
Open a Vanguard account
You need a Vanguard Brokerage Account before you enroll. Money held elsewhere has to be transferred in to count toward a minimum.
Answer the questionnaire
You share goals, timeline and risk tolerance online. Personal Advisor also screens whether you can handle active funds if you want that option.
Get a plan and portfolio
Vanguard builds a portfolio, usually of Vanguard index ETFs and funds. At Personal Advisor Select your CFP walks you through the plan within a few weeks, and you can decline with no obligation.
Ongoing management
The service rebalances and may tax-loss harvest. Hybrid clients schedule calls with an available advisor; Select clients contact their own.
Leave when you want
You can unenroll. If you move the account to another firm, Vanguard's brokerage fee schedule lists $100 per account for a full transfer out.
Vanguard's financial advice legitimacy and licensing
Yes. Vanguard’s advice services are provided by Vanguard Advisers, Inc., an SEC-registered investment adviser in Malvern, Pennsylvania (CRD 106715), or by Vanguard National Trust Company. Accounts are held at Vanguard Marketing Corporation, a FINRA member broker (CRD 7452) and SIPC member. Vanguard says its advisors act as fiduciaries.
There is a recent black mark that matters for this exact service. On August 29, 2025, the SEC found that from August 2020 through December 2023 Vanguard Advisers paid advisors on its Personal Advisor Services program bonuses, raises and sometimes promotions for getting clients to enroll and stay, while its Form CRS, brochure supplement and website said those advisors had no extra pay or incentives. Vanguard Advisers agreed, without admitting or denying the findings, to a censure, a cease-and-desist order and a $19.5 million penalty. Separately, The Vanguard Group paid $106.41 million in January 2025 over target date fund tax disclosures.
Vanguard’s own site now says it is incentivized to recommend its programs over outside options and that advisors aren’t required to recommend the lowest cost solution. Read the Form CRS before you enroll.
How much a Vanguard financial advisor costs
Vanguard prices its four tiers as a percentage of the assets it manages for you:
- Digital Advisor: 0.20% gross a year for an all-index portfolio, 0.25% with active funds. Vanguard credits back the fund revenue it earns, so the net cost is about $15 to $16 per $10,000. No advisory fee for the first 90 days.
- Personal Advisor: 0.35% gross for all-index, 0.40% with active funds, about $30 to $31 per $10,000 net. $50,000 minimum.
- Personal Advisor Select: a tiered schedule with a 0.30% maximum, averaged across all advised assets. $500,000 minimum.
- Personal Advisor Wealth Management: same 0.30% maximum, $5 million minimum.
Fund expense ratios come on top. On $500,000, Select costs no more than $1,500 a year in advisory fees. A 1% advisor would charge about $5,000.
What you get at each level
Digital Advisor is a robo-advisor. It builds and rebalances a portfolio, helps with retirement saving and debt payoff goals, and includes tax-loss harvesting. You don’t get a person.
Personal Advisor is a hybrid. Software manages the portfolio and you schedule appointments with an advisor from a team when you need one. You can keep some holdings, choose an ESG option or add active funds for a higher fee. It isn’t a dedicated relationship.
Personal Advisor Select assigns one CFP professional who builds a plan from more than 30 data points, including Social Security timing, Roth conversions and withdrawal order. Only individual, IRA and trust accounts at Vanguard count toward the $500,000; outside 401(k)s, 529s and UTMAs can go into the plan, but you manage them yourself.
Wealth Management adds a team of specialists, trust services, estate planning and access to private equity funds.
What customers say about Vanguard
Recurring themes across the review sites and complaint records listed above, not individual quotes.
Common praise
- Low advisory fees compared with traditional advisors
- Low-cost index funds used to build portfolios
- Individual representatives who are patient once you reach them
- Help with rollovers and retirement paperwork
Common complaints
- Long phone holds and calls transferred or dropped
- Trouble logging in and making changes online
- Delayed distributions and transfers
- Fees customers say weren't clearly disclosed, such as the $25 account fee
Vanguard complaints and how to avoid problems
Vanguard’s unclaimed Trustpilot page scored 1.3 out of 5 from 387 reviews in October 2026. The recurring complaints are long holds, calls transferred without resolution, login trouble and slow distributions. The app does far better, at 4.6 out of 5 on the US App Store. We found no BBB profile for The Vanguard Group.
To avoid surprises: get the fee for your tier in writing, ask whether your advisor’s pay depends on enrolling or keeping you, turn on e-delivery to avoid the $25 annual account fee, and plan calls for weekdays between 8 a.m. and 8 p.m. Eastern. If a dispute with the adviser stalls, you can file a tip or complaint with the SEC.
Cancelling and moving your money
You can unenroll from any Vanguard advice service. If you leave Digital Advisor during the 90-day waiver, you owe no advisory fee, but you can’t get a second waiver if you come back. The account stays at Vanguard as a self-directed brokerage account. Vanguard’s brokerage fee schedule lists $100 per account to close or fully transfer to another firm, waived for Wealth Management and advisory accounts and for clients with $5 million or more. Ask the receiving firm whether it reimburses transfer fees.
Who should pick something else
Vanguard’s advice is built for long-term index investors. It’s a weak fit if you want to trade, own crypto or futures, or have a planner on call in the evening. If you have $50,000 to $500,000 and want the same person every time, compare a flat-fee planner or an independent fee-only CFP. If you have less than $25,000, Fidelity Go charges no advisory fee at that size.
This is general information, not investment advice. Check any adviser on the SEC’s Investment Adviser Public Disclosure site before you hire them.
Alternatives to Vanguard
- Fidelity Go Charges no advisory fee under $25,000, so it costs less than Vanguard Digital Advisor on small balances. Read review
- Betterment Premium Gives CFP access from $100,000 if you want planning help sooner than Vanguard's $500,000 dedicated tier, at a higher 0.65% fee. Read review
- Facet A flat annual fee that can cost less than a percentage fee once your portfolio is large. Read review
- A three-fund index portfolio you manage yourself If you only need a simple allocation, buying a few index funds at Vanguard or any broker costs nothing beyond fund expenses.
Vanguard reviews
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Frequently asked questions
How much does a Vanguard financial advisor cost?
Personal Advisor costs about 0.30% to 0.31% a year net for an all-index portfolio with a $50,000 minimum. Personal Advisor Select costs no more than 0.30% with a $500,000 minimum. Fund expenses are extra.
What is the minimum for a Vanguard advisor?
$100 for Digital Advisor, $50,000 for Personal Advisor, $500,000 for Personal Advisor Select and $5 million for Wealth Management. Only eligible Vanguard accounts count.
Do I get a dedicated advisor with Vanguard Personal Advisor?
No. Personal Advisor gives you access to a team of advisors by appointment. A dedicated CFP professional starts with Personal Advisor Select at $500,000.
Are Vanguard advisors fiduciaries?
Vanguard says they are. Vanguard Advisers is an SEC-registered investment adviser, which owes clients a fiduciary duty, but the SEC found in 2025 that it misdescribed how its advisors were paid.
Why did the SEC fine Vanguard Advisers?
The SEC found that from 2020 to 2023 advisors were rewarded with bonuses, raises and promotions for enrolling clients in Personal Advisor Services while disclosures said they had no such incentives. Vanguard paid $19.5 million without admitting or denying the findings.
Is Vanguard Personal Advisor worth it?
It can be if you want low-cost, hands-off management and occasional advisor calls. If you want detailed planning from one person, the $500,000 Select tier or a flat-fee planner is a better match.
Does Vanguard Digital Advisor have a free trial?
Vanguard waives the advisory fee for roughly the first 90 days, the first billing period. Fund expenses still apply, and the waiver is one time only.
Is Vanguard Digital Advisor better than Betterment?
Vanguard costs about $15 to $16 per $10,000 net with a $100 minimum. Betterment charges $5 a month or 0.25%. Betterment offers more account features; Vanguard is cheaper on larger balances.
Does Vanguard offer free financial advice?
No. Vanguard says it doesn't provide free investment advice, though its education articles and planning tools are free to use.
Can a Vanguard advisor manage my 401(k)?
Only a Vanguard-administered 401(k) whose employer offers Personal Advisor. Other 401(k)s can be included in your plan but aren't managed and don't count toward the minimum.
Sources (11)
Facts on this page come from company websites, government agencies and regulators, checked on the dates shown. Editorial standards
- Vanguard: Compare investment advice services (accessed October 13, 2026)
- Vanguard: Personal Advisor (accessed October 13, 2026)
- Vanguard: Personal Advisor Select (accessed October 13, 2026)
- SEC Investment Adviser Public Disclosure: Vanguard Advisers, Inc. (CRD 106715) (accessed October 13, 2026)
- SEC: Vanguard Advisers charged for failing to adequately disclose conflicts of interest (IA-6912, August 29, 2025) (accessed October 13, 2026)
- Vanguard: Brokerage Services commission and fee schedules (accessed October 12, 2026)
- SEC: Vanguard to pay $106 million over target date fund disclosures (2025-21) (accessed October 12, 2026)
- FINRA BrokerCheck: Vanguard Marketing Corporation (CRD 7452) (accessed October 12, 2026)
- Trustpilot: Vanguard reviews (accessed October 13, 2026)
- Apple App Store: Vanguard (accessed October 13, 2026)
- Vanguard: Digital Advisor (accessed October 13, 2026)
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