Vanguard CEO Salim Ramji. Photo courtesy of Vanguard.

If you want proof that Vanguard is shifting to managed accounts with model portfolios, read this from Crypto Intelligence:

Model portfolios, commonly offered by large brokerage firms, are diversified investment strategies that balance risk and return, providing investors with pre-designed templates or โ€œrecipesโ€ for investing.

BlackRock anticipates that the management of model portfolios will grow from the current $4.2 trillion to $10 trillion over the next five years.

Earlier in July, Salim Ramji, global head of iShares and index investments at BlackRock, commented on the growing trend, stating, โ€œItโ€™s going to be massive,โ€ and emphasizing the importance of fiduciary advisers in this shift.

Action Line: That quote from Salim Ramji is from before he joined Vanguard. Could his mind have changed so quickly? Did Vanguard hire him, expecting a tiger to change his stripes? There are problems at Vanguard. Read more about them in my SPECIAL REPORT: The Trouble with BlackRoโ€ฆ erโ€ฆ ummm, Vanguard.

Originally posted on Your Survival Guy.