American Express and Vanguard have officially launched their investment management and credit card services program, INVEST for Amex by Vanguard. This program is designed to give basic American Express cardholders access to financial advice and exclusive rewards points when investing. The program requires an investment minimum of $10,000 and an annual gross advisory fee of 0.50%.
The program is beneficial for those who are looking to invest in Vanguard funds, ETFs, and other products. Investors can take advantage of the low fees and competitive returns offered by Vanguard. Additionally, the program allows for easy access to Vanguard’s wide range of services, such as financial advice, portfolio management, and portfolio research.
When investing through INVEST for Amex by Vanguard, customers will have access to two ETFs, the Vanguard Utilities ETF (AMEX:VPU) and the Utilities Select Sector SPDR ETF (AMEX:XLU). Both ETFs have large asset bases, with VPU having $5.40 billion in assets and XLU having $15 billion. VPU has an expense ratio of 0.10% and XLU has an expense ratio of 0.13%.
In addition to the low fees and competitive returns, the program offers a unique incentive in the form of Amex points. Amex customers can earn rewards points when investing with INVEST for Amex by Vanguard. These points are redeemable for a variety of rewards, including travel, merchandise, gift cards, and cash back.
Vanguard also offers a variety of research tools to help customers make informed investment decisions. Customers can access Vanguard's Investing Insights, which provides a range of research and analysis on topics ranging from retirement planning to stock market performance. Additionally, customers can access Vanguard's Investment Planning Calculator, which helps investors calculate their financial goals and determine the best investment strategies for their needs.
Finally, the program also features a customer service team that is available to answer any questions that customers may have about their investments. The customer service team is available through phone, email, and chat.
The program is beneficial for both Amex customers and those who are looking to get started in investing. By providing low fees, competitive returns, and rewards points, INVEST for Amex by Vanguard is a great option for those looking to make the most of their investments.