# Vanguard Advisers, Inc.

> Vanguard Advisers, Inc. is an SEC-registered investment advisory firm in Malvern, PA, registered since 1995, reporting over $5 billion in regulatory assets under management in its Form ADV filing dated September 24, 2026.

- CRD: 106715
- Filed as: VANGUARD ADVISERS, INC.
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Malvern, PA
- Filing period: October 2026
- Form ADV filing dated: September 24, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/106715
- AdvisorCensus page: https://advisorcensus.com/firm/vanguard-advisers-inc-malvern-pa-106715

## Quick answers

**How is Vanguard Advisers, Inc. compensated?**
On its Form ADV (Item 5.E, October 2026), Vanguard Advisers, Inc. reports these compensation arrangements: a percentage of assets under its management; fixed fees (other than subscription fees). The amounts are in Item 5 of its Form ADV Part 2A brochure.

**Where is Vanguard Advisers, Inc. located?**
Vanguard Advisers, Inc.'s principal office is in Malvern, PA, according to its Form ADV; the October 2026 filing also lists 5 other offices (Schedule D, Section 1.F).

**Is Vanguard Advisers, Inc. registered with the SEC or a state?**
Vanguard Advisers, Inc. is an SEC-registered investment advisory firm, registered since 1995. Status as filed: Approved. CRD 106715.

**How much does Vanguard Advisers, Inc. manage?**
Vanguard Advisers, Inc. reports $344,619,578,214 in regulatory assets under management in its Form ADV filing dated September 24, 2026 (35% discretionary).

**How have Vanguard Advisers, Inc.'s assets and staff changed since 2021?**
In the Form ADV data for Vanguard Advisers, Inc.: Regulatory assets under management: $276,525,412,785 in the October 2021 data and $344,619,578,214 in the October 2026 data, up 25%. Total employees: 1,866 in October 2021 and 2,208 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Vanguard Advisers, Inc. serve?**
By number of clients on Form ADV Item 5.D: individuals (other than high net worth individuals) (711,336); high net worth individuals (80,159); other investment advisers (21).

**Which custodians does Vanguard Advisers, Inc. use?**
Vanguard Advisers, Inc.'s most recent Form ADV filing (Schedule D, Section 5.K(3)) lists The Vanguard Group Inc (affiliated with the firm), Vanguard Fiduciary Trust Company (affiliated with the firm) and Vanguard Marketing Corporation (affiliated with the firm) as custodians holding 10% or more of its separately managed account assets.

**Does Vanguard Advisers, Inc. report any disciplinary disclosures?**
Reports 9 disclosure items on Form ADV Item 11: yes answers to 2 questions about criminal matters, 6 questions about regulatory matters, and 1 question about civil court matters (11.A(1), 11.A(2), 11.C(2), 11.C(4), 11.C(5), 11.D(2), 11.D(4), 11.E(2), 11.H(1)(c)). Each question covers the firm and its advisory affiliates, and one event can produce several yes answers. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/106715

**What changed in Vanguard Advisers, Inc.'s recent Form ADV filings?**
In the October 2026 filing data: Updated its list of owners and control persons (Schedule A).

## From the Form ADV filing

### Compensation (Item 5.E)
- A percentage of assets under your management
- Fixed fees (other than subscription fees)

### Custodians (Schedule D, Section 5.K(3))
- The Vanguard Group Inc (affiliated with the firm)
- Vanguard Fiduciary Trust Company (affiliated with the firm)
- Vanguard Marketing Corporation (affiliated with the firm)

Custodians holding 10% or more of the firm's separately managed account assets, as filed on Form ADV (Schedule D, Section 5.K(3)). A custodian holds client assets; it does not endorse or supervise the firm. AdvisorCensus has no relationship with any custodian.

### Regulatory assets under management (Item 5.F)
- Total: $344,619,578,214
- Discretionary: $120,702,382,632
- Non-discretionary: $223,917,195,582

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | 711,336 | $164,798,715,692 |
| High net worth individuals | 80,159 | $164,525,130,429 |
| Banking or thrift institutions | 0 | $0 |
| Investment companies | 0 | $0 |
| Business development companies | 0 | $0 |
| Pooled investment vehicles (other than investment companies and business development companies) | 12 | $15,295,732,093 |
| Pension and profit sharing plans (but not the plan participants or government pension plans) | 0 | $0 |
| Charitable organizations | 0 | $0 |
| State or municipal government entities (including government pension plans) | 0 | $0 |
| Other investment advisers | 21 | $0 |
| Insurance companies | 0 | $0 |
| Sovereign wealth funds and foreign official institutions | 0 | $0 |
| Corporations or other businesses not listed above | 0 | $0 |
| Other | 0 | $0 |

### Advisory services (Item 5.G)
- Financial planning services
- Portfolio management for individuals and/or small businesses
- Portfolio management for pooled investment vehicles (other than investment companies)
- Portfolio management for businesses (other than small businesses) or institutional clients
- Selection of other advisers (including private fund managers)

### Firm details
- Registered since: 1995 (31 years)
- Employees: 2,208 total, 1,903 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: AK, AL, AR, AZ, CA, CO, CT, DC, DE, FL, GA, HI, IA, ID, IL, IN, KS, KY, LA, MA, MD, ME, MI, MN, MO, MS, MT, NC, ND, NE, NH, NJ, NM, NV, NY, OH, OK, OR, PA, PR, RI, SC, SD, TN, TX, UT, VA, VI, VT, WA, WI, WV, WY
- Disclosures (Item 11): Reports 9 disclosure items on Form ADV Item 11.

### Item 11 questions answered yes
- 11.A(1): In the past ten years, has the firm or an advisory affiliate been convicted of, or pleaded guilty or no contest to, a felony?
- 11.A(2): In the past ten years, has the firm or an advisory affiliate been charged with a felony?
- 11.C(2): Has the SEC or the CFTC ever found that the firm or an advisory affiliate was involved in a violation of SEC or CFTC regulations or statutes?
- 11.C(4): Has the SEC or the CFTC ever entered an order against the firm or an advisory affiliate in connection with investment-related activity?
- 11.C(5): Has the SEC or the CFTC ever imposed a civil money penalty on the firm or an advisory affiliate, or ordered the firm or an advisory affiliate to cease and desist from an activity?
- 11.D(2): Has another federal regulator, a state regulator, or a foreign financial regulator ever found that the firm or an advisory affiliate was involved in a violation of investment-related regulations or statutes?
- 11.D(4): In the past ten years, has another federal regulator, a state regulator, or a foreign financial regulator entered an order against the firm or an advisory affiliate in connection with investment-related activity?
- 11.E(2): Has a self-regulatory organization or a commodities exchange ever found that the firm or an advisory affiliate was involved in a violation of its rules, other than a minor rule violation under a plan the SEC approved?
- 11.H(1)(c): Has a domestic or foreign court ever dismissed, under a settlement agreement, an investment-related civil action brought against the firm or an advisory affiliate by a state or foreign financial regulator?

Each question covers the firm and its advisory affiliates: its current employees other than clerical staff, its officers, partners, and directors, and anyone who controls the firm or is controlled by it. One event can produce yes answers to several questions. SEC-registered advisers and exempt reporting advisers may leave out events more than ten years old, and may answer 11.A(2) and 11.B(2) for pending charges only. The detail of each yes answer is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/106715

### Other offices (Schedule D, Section 1.F), as of the October 2026 filing
- Charlotte, NC
- Malvern, PA
- Newtown Square, PA
- Plano, TX
- Scottsdale, AZ

### Websites listed on Form ADV (Item 1.I)
- institutional.vanguard.com/401k-plans/employee-advice.html
- investor.vanguard.com/advice
- investor.vanguard.com/advice/personal-financial-advisor
- investor.vanguard.com/advice/personal-hybrid-robo-advisor
- investor.vanguard.com/advice/robo-advisor
- reddit.com/user/vanguardgroup
- Facebook @VANGUARD
- Instagram @VANGUARDGROUP
- LinkedIn @VANGUARD
- LinkedIn @vanguard-institutional-investing
- Pinterest @Vanguard_Group
- X @VANGUARD_GROUP
- X @Vanguard_FA
- YouTube @VANGUARD

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $276,525,412,785 | 1,866 | October 1, 2021 |
| October 2022 | $338,870,938,273 | 1,932 | September 21, 2022 |
| October 2023 | $299,191,714,649 | 2,124 | August 24, 2023 |
| October 2024 | $333,066,527,268 | 2,107 | September 4, 2024 |
| October 2025 | $300,434,933,763 | 2,225 | July 31, 2025 |
| October 2026 | $344,619,578,214 | 2,208 | September 24, 2026 |

Regulatory assets under management: $276,525,412,785 in the October 2021 data and $344,619,578,214 in the October 2026 data, up 25%.
Total employees: 1,866 in October 2021 and 2,208 in October 2026.

## Changes in the filing (last 12 months)

### October 2026
- Updated its list of owners and control persons (Schedule A).

### August 2026
- Updated its list of owners and control persons (Schedule A).

### April 2026
- Its Item 11 disclosure answers changed (now yes: 11.H(1)(c); now no: 11.H(2)).
- Employees performing advisory functions went from 1567 to 1903.
- Regulatory assets under management went from $300,434,933,763 to $344,619,578,214 (+15%).
- Added an office in Malvern, PA.
- Updated its list of owners and control persons (Schedule A).

### March 2026
- Updated its list of owners and control persons (Schedule A).

### December 2025
- Item 11 disclosure answers changed: 9 yes answers, previously 7 (now yes: 11.A(1), 11.A(2)).

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Vanguard Advisers, Inc. (CRD 106715): Form ADV filing data as of October 2026.