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Advisor’s Digest
Vanguard Research & Commentary for financial professionals
January 30, 2018
Webcast replay: Our 2018 economic and market outlook
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In this replay of an exclusive live webcast for advisors, Vanguard Global Chief Economist Joe Davis breaks down Vanguard's 2018 economic and market outlook.
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The evolution of Vanguard Advisor's Alpha: From portfolios to people
Changes in the advisory business, including the automation of advice, are forcing advisors to enhance their value by building deeper relationships with clients.
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Boomers vs. millennials: Who's better for the economy?
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Vanguard experts Jonathan Lemco and Andrew Patterson explain how shifts in the population can affect economic growth.
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Technology isn't a threat--It's an opportunity
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Many in our industry see only doom when it comes to automation. But automation in reality opens the door to provide greater client value than ever before.
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ETF Perspectives-Winter 2018
Inside ETFs' Matt Hougan looks at the 25th anniversary of the first U.S. ETF and talks about how ETFs have helped change the culture of finance.
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For financial professionals only. Not for public distribution.

All investments are subject to risks, including possible loss of principal. Prices of mid- and small-cap stocks often fluctuate more than those of large-company stocks. Foreign investing involves additional risks including currency fluctuations and political uncertainty. Stocks of companies in emerging markets are generally more risky than stocks of companies in developed countries. Funds that concentrate on a relatively narrow market sector face the risk of higher share-price volatility. Investments in bond funds are subject to interest rate, credit, and inflation risk. Although the income from a municipal bond fund is exempt from federal tax, you may owe taxes on any capital gains realized through the fund's trading or through your own redemption of shares. For some investors, a portion of the fund's income may be subject to state and local taxes, as well as to the federal Alternative Minimum Tax. Diversification does not ensure a profit or protect against a loss in a declining market.

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