Vanguard Establishes Two New U.S. Investment Advisors Amid Growing Market Influence

Vanguard, the investment giant with over 50 million investors, announced plans to form two wholly owned U.S. investment advisors—Vanguard Capital Management and Vanguard Portfolio Management. The MOVE aims to enhance focus, flexibility, and operational efficiency while maintaining low-cost, high-quality investment offerings.

The restructuring comes as index funds continue to dominate global asset ownership. ESG-related challenges, exemplified by BlackRock's recent quiet period, remain a growing industry concern. Vanguard's split appears designed to navigate ownership limits while scaling its stewardship capabilities.

Portfolio management and expense ratios will remain unchanged, with existing teams transitioning to the new structure. The reorganization reflects institutional adaptation to evolving market dynamics—a trend increasingly relevant to crypto markets where regulatory clarity and institutional participation are accelerating.