Vanguard: Financial Advice for Amex Cardholders

Investment management firm Vanguard has partnered with American Express on a new Vanguard financial advisory service that will reduce costs and complexity, according to a press release.

The service, INVEST for Amex by Vanguard, will be for eligible American Express members and will come with expertise in digital financial planning and investment management.

It will partner with American Express’ differentiated rewards and provide access to Vanguard advisors.

The service will add ways for customers to achieve “better financial results.”

The release notes that INVEST will include a digital experience paired with advice from a Vanguard financial advisor, personalized and goal-based funding plans, and eligibility to earn rewards.

“Counseling is a powerful accelerator to investment success, providing guidance and advice to help investors avoid financial pitfalls, build wealth and achieve their long-term goals,” said Tim Buckley, President. -CEO of Vanguard. “As Vanguard seeks to make our advice more accessible, we are thrilled to partner with the distinguished brand of American Express to fulfill our mission to give investors the best chance for investment success.”

Meanwhile, Amex CEO and Chairman Stephen J. Squeri said the collaboration would help “provide access to seamless and reliable service to help our cardholders achieve their financial goals.”

“American Express is continually innovating to deliver differentiated value and service to our customers, and INVEST extends our reach beyond their day-to-day needs by helping them plan for the future,” he said.

Along the same lines, a PYMNTS report says the IRS is looking into whether or not American Express sales staff are guilty of giving wrong tax advice to potential customers, in an attempt to sell to them. payment card services.

Read more: Report: IRS investigates Amex business proposals

The pitch involved business operators deducting card processing fees from company income for tax purposes. Then they transferred the fee-triggered rewards to the AmEx cards they controlled – tax-free, apparently.

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