From Morningstar: 2025-05-06 05:33:00

Vanguard recently hired Joanna Rotenberg from Fidelity to oversee their advisory and wealth units, aligning with their shift towards advice services. Rotenberg brings experience in wealth and advice from her time at Fidelity and BMO. Vanguard aims to expand beyond their direct-to-investor model, facing challenges in value proposition and client type. The transition to advisory services may be met with skepticism from investors accustomed to Vanguard’s traditional approach. 1. The stock market reached new highs today, with the S&P 500 closing at a record 4,500 points. Strong corporate earnings and positive economic data drove the gains, with tech stocks leading the way. The Dow Jones and Nasdaq also saw significant increases, continuing the market’s upward trend.

2. In international news, tensions are rising between Russia and Ukraine as Russian troops continue to build up near the border. The United States and European Union have expressed concern over the situation, calling for a peaceful resolution. The conflict has sparked fears of a potential military intervention and disruption in the region.

3. The latest report on climate change from the UN warns of dire consequences if immediate action is not taken to reduce greenhouse gas emissions. The report highlights the urgent need for global cooperation to combat climate change and its devastating effects on the planet. Scientists urge policymakers to prioritize sustainability and implement effective measures to curb emissions.

4. In technology news, Apple announced the launch of its new iPhone 13 series, featuring improved camera capabilities and faster processing speeds. The company also unveiled updates to its Apple Watch and iPad lineup, emphasizing the integration of health and fitness features. The new products are set to hit the market later this year, attracting tech enthusiasts worldwide.



Read more at Morningstar: Vanguard’s Challenges in Advice and Wealth