Pennsylvania-based asset manager The Vanguard Group Inc. is looking to expand its operations in the United Kingdom with over a dozen job listings for financial experts, Bloomberg reported.
Vanguard Head of Europe Sean Hagerty said the firm is looking to employ dozens more until April, with the focus on client services roles as the firm welcomes new clients. It has hired over 60 in the past year, with the majority being financial planning experts.
Hagerty cited the need for manpower as new clients are expected between 180,000 to 200,000 a year, with the business almost doubling in the past year to 370,000. He said the growth of staff would depend on the clients onboarded.
The group has attracted new clients with its low fees and do-it-yourself investing and threatens to poach talent from firms such as Quilter Plc. and St. James Place Plc.
Hagerty acknowledged that this could mean competition with advisers who already recommend its product but noted the difference between investors who value face-to-face relationships and those who don’t.