Vanguard strikes deal for fintech platform Altruist

Aug 26 : Vanguard Group said on Wednesday it would acquire fintech platform Altruist, giving the asset manager greater access to independent financial advisers and expanding its wealth-management capabilities.Here are some more details:• While the terms of the deal were not disclosed, the Wall Street Journal said the transaction was worth roughly $4 billion, citing people familiar with the matter.• Founded in 2018, Altruist is a wealth-management technology platform used by independent financial advisers. It is a competitor to Charles Schwab and Fidelity's custody businesses. • "As more investors in Vanguard funds choose to work with financial advisors, we see a significant opportunity to build on the strengths of two highly complementary organizations to help advisors serve clients more e