Vanguard Buying Direct Indexing Firm Just Invest

“The success of our pilot program validated both the need in the marketplace and the compelling offer developed by Just Invest,” said Tom Rampulla, managing director of Vanguard Financial Advisor Services, in a statement.

Just Invest, founded in 2016, has more than $1 billion in assets, and uses sophisticated portfolio management tools traditionally available only to institutional or ultra-high-net-worth investors to personalize investment portfolios to reflect investors’ values, financial objectives, and tax-loss-harvesting needs.

Its capabilities will augment Vanguard’s $3 trillion financial intermediary business, helping the fund giant better serve advisors through broader, cost-effective access to tax-efficient, personalized investment solutions, according to Vanguard. Over time, Vanguard will work with the Just Invest team to expand its offering to a broader set of clients and build upon existing capabilities.

“Since our founding, Just Invest’s mission has been to empower financial advisors through modern and scalable custom asset management technology like direct indexing, enabling them to focus on what matters most — their clients,” said Jonathan Hudacko, CEO of Just Invest, in a statement. “With Vanguard’s tremendous brand, reach, and investment leadership, we will be able to help even more advisors drive better investment outcomes for their clients.”