Tom Ellis: Is Vanguard Personal Financial Planning going to be a true advice disruptor?

It's been a long time coming but a global investment giant has entered the UK advice market with a challenging proposition in a meaningful way. Vanguard is here and, as one might have expected, it's cheap. It's not quite the doomsday ‘what if Amazon, with all its data and consumer habits, launches a UK financial services arm' threat, but at 0.79% all-in for its advice service, including platform fee, fund costs and the rest, at a minimum portfolio size of £50,000, it's very different to what's currently on offer in the market. But those basic facts do not paint the whole picture. It m...