The Vanguard Group, Inc. (Malvern)


The Vanguard Group, Inc. is a large advisory firm based in Malvern. It manages $4.53 trillion of regulatory assets for 254 client accounts. It has been registered with the SEC as an adviser since 2001.

The Vanguard Group provides portfolio management for investment companies, portfolio management for pooled investment vehicles, portfolio management for businesses and institutional clients, selection of other advisers, and publication of newsletters. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.

The Vanguard Group: assets under management

The assets under management (AUM) of The Vanguard Group, Inc. is $4.53 trillion, all of which is managed in discretionary accounts. The firm's AUM has grown by 709% since the beginning of its operation, and $13.05 billion of the total AUM is attributable to clients outside of the United States.

The firm manages $4.53 trillion in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $17.84 billion each.

Fees & Commissions

The advisory firm has a single stream of revenue. Clients pay The Vanguard Group, Inc. for their services and products based on a percentage of assets under management. Compensation based on assets under management promotes a long-term relationship between a client and the adviser and helps align mutual interests. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Joann Heffernan Heisen serves?

The firm provides services to investment companies and pooled investment vehicles. The largest group of clients of Joann Heffernan Heisen is investment companies with 191 clients and $4.52 trillion of assets under management. Among the 9 most similar advisory firms, The Vanguard Group has the highest percentage of investment companies out of all clients.

The amount of regulatory assets under management is $4.53 trillion for 254 clients. 42% of the firm’s clients are foreign persons or businesses.

The Vanguard Group also advises several private funds. Namely, two hedge funds. The minimum investment commitment required of non-related persons is $1 for each fund.

Careers at The Vanguard Group, Inc.

The company employs 490 people that are either part- or full-time employees. 75 percent of the employees work as investment advisers or researchers. 5 employees are registered as investment adviser representatives with the state securities authorities.

There isn’t anyone with the role of looking for and bringing in new clients on behalf of the firm. The firm compensates employees in addition to the salary for bringing in new clients. Employees don’t receive compensation from other entities for client referrals.

Joann Heffernan Heisen has been acting as President since 1 Jul 1998. John Schadl joined the executive team most recently as the Chief Compliance Officer.

Direct owners and executive officers


Name Entity Date acquired Ownership Employer ID
Vanguard Explorer Fund Stockholder 1 Dec 1972 Other 51-0106626
James Overman Welch Director 1 Sep 1974 Other 4335730
Vanguard Wellington Fund Stockholder 1 May 1975 Other 51-0071687
Vanguard Windsor Funds Stockholder 1 May 1975 Other 51-0082711
Vanguard World Fund Stockholder 1 May 1975 Other 04-6035483
Vanguard Morgan Growth Fund Stockholder 1 May 1975 Other 51-0108190
Vanguard Wellesley Income Fund Stockholder 1 May 1975 Other 23-1711688
Vanguard Fixed Income Securities Funds Stockholder 1 May 1975 Other 23-1899003
Vanguard Money Market Reserves Stockholder 1 May 1975 Other 23-6607979
Vanguard World Funds Stockholder 1 May 1975 Other 04-6035483
Vanguard Explorer Fund Stockholder 1 Dec 1975 Other 51-0106626
Vanguard Preferred Stock Fund Stockholder 1 Dec 1975 Other 23-1976122
Vanguard Index Funds Stockholder 1 Aug 1976 25% - 50% 23-1999755
Burton Gordon Malkiel Director 1 May 1977 Other 4335688
Vanguard Municipal Bond Funds Stockholder 1 Sep 1977 Other 23-2022170
Vanguard Trustees' Equity Fund Stockholder 1 Feb 1980 Other 23-2439141
Vanguard Trustees Equity Fund Stockholder 1 Feb 1980 Other 23-2439141
Vanguard Trustees Equity Funds Stockholder 1 Feb 1980 Other 23-2439141
Vanguard Specialized Funds Stockholder 1 Oct 1983 Other 23-2284351
Vanguard Chester Funds Stockholder 1 Aug 1984 Other 23-2311358
Vanguard Primecap Fund Stockholder 1 Aug 1984 Other 23-2311358
J Lawrence Wilson Director 1 Apr 1985 Other 1462324
James Lawrence Wilson Director 1 Apr 1985 Other 1462324
Vanguard California Tax Free Funds Stockholder 1 Oct 1985 Other 23-2388563
Vanguard New York Tax Free Funds Stockholder 1 Jan 1986 Other 23-2388559
Vanguard Pennsylvania Tax Free Funds Stockholder 1 Jan 1986 Other 23-2388562
Vanguard Convertible Securities Fund Stockholder 1 Apr 1986 Other 23-2397232
Vanguard Quantitative Funds Stockholder 1 Aug 1986 Other 23-2426756
Ian A Mackinnon Managing director 1 Aug 1986 Other 1567063
Ian Alexander Mackinnon Managing director 1 Aug 1986 Other 1567063
Vanguard Bond Index Funds Stockholder 1 Dec 1986 Other 23-2383781
Vanguard New Jersey Tax Free Funds Stockholder 1 Sep 1987 Other 23-2488282
Vanguard Fenway Funds Stockholder 1 Nov 1987 Other 23-2491240
Vanguard Malvern Funds Stockholder 1 Nov 1988 Other 23-2520805
James Henry Gately Managing director 1 Aug 1989 Other 218643
Ralph Kempton Packard Managing director & cfo 1 Aug 1989 Other 1566598
George Upham Sauter Managing director & investment manager 1 Oct 1989 Other 1767147
Vanguard International Equity Index Funds Stockholder 1 Apr 1990 Other 23-2590839
Vanguard Ohio Tax Free Funds Stockholder 1 Jun 1990 Other 23-2601142
Vanguard Variable Insurance Funds Stockholder 1 Apr 1991 Other 23-2585135
Vanguard Variable Insurance Fund Stockholder 1 Apr 1991 Other 23-2585135
Vanguard Massachusetts Tax Exempt Funds Stockholder 1 Jul 1992 Other 23-2975858
Vanguard Florida Tax Free Funds Stockholder 1 Sep 1992 Other 23-2687102
Vanguard Valley Forge Funds Stockholder 1 Nov 1992 Other 23-2691871
Vanguard Balanced Index Funds Stockholder 1 Nov 1992 Other 23-2691871
Vanguard Admiral Funds Stockholder 1 Dec 1992 Other 23-2696041
Alfred M Rankin Director 1 Dec 1992 Other 2522554
Alfred Marshall Rankin Director 1 Dec 1992 Other 2522554
Alfred Marshall Rankin Director 1 Jan 1993 Other 2522554
Vanguard Tax Managed Funds Stockholder 1 Sep 1994 Other 23-2764159
Vanguard Horizon Funds Stockholder 1 Jun 1995 Other 23-2787277
Frederick William Mcnabb Managing director 1 Aug 1995 Other 1567399
Vanguard Whitehall Funds Stockholder 1 Feb 1996 Other 23-2827110
John Joseph Brennan President, ceo & director 1 Feb 1996 Other 1567065
Jeremy Geoffrey Duffield Managing director 1 May 1996 Other 714328
Michael Sidney Miller Managing director 1 Aug 1996 Other 2130803
Vanguard Treasury Funds Stockholder 1 Dec 1996 Other 23-2439140
Kathleen Crossett Gubanich Managing director 1 Aug 1997 Other 1567136
Robert Anthony Distefano Managing director 1 Aug 1997 Other 1323695
James Henry Gately Managing director 1 Aug 1997 Other 218643
Ian A Mackinnon Managing director 1 Aug 1997 Other 1567063
Frederick William Mcnabb Managing director 1 Aug 1997 Other 1567399
Michael Sidney Miller Managing director 1 Aug 1997 Other 2130803
Ralph Kempton Packard Managing director & cfo 1 Aug 1997 Other 1566598
John Joseph Brennan Chairman 1 Jan 1998 Other 1567065
Joann Heffernan Heisen Director 1 Jul 1998 Other 1461567
Thomas Joseph Higgins Controller internal audit 1 Jul 1998 Other 1992036
Rosemary D Whitaker Chief compliance officer 1 Feb 2000 Other 1566591
Charles Daniel Ellis Director 1 Jan 2001 Other 4347358
Robert Gregory Barton Managing director & corporate secretary 1 Jun 2001 Other 1462355
Rajiv Lochan Gupta Director 1 Dec 2001 Other 4497024
Rajiv L Gupta Director 1 Dec 2001 Other 4497024
Mortimer Joseph Buckley Managing director and chief investment officer 1 Jan 2003 Other 2167630
Robert David Snowden Chief compliance officer 1 Jan 2003 Other 1827728
Marybeth Callahan Matecki Chief compliance officer 1 Jan 2004 Other 1586209
Andre Francois Perold Director 1 Dec 2004 Other 4660204
Heidi Stam Managing director, general counsel, and secretary 1 Jul 2005 Other 2985810
Pauline Catherine Scalvino Chief compliance officer 1 Mar 2006 Other 5030240
Amy Gutmann Director 1 Jun 2006 Other 5304199
Paul Andrew Heller Managing director and chief information officer 1 May 2007 Other 1359165
Vanguard Montgomery Funds Stockholder 1 Nov 2007 Other 26-1082315
Emerson U Fullwood Director 1 Jan 2008 Other 5511592
Frederick William Mcnabb Director and president 1 Mar 2008 Other 1567399
Glenn W Reed Managing director 1 May 2008 Other 5543460
Frederick William Mcnabb President, ceo, and chairman 1 Aug 2008 Other 1567399
Richard David Carpenter Chief audit executive 1 Sep 2008 Other 1395642
Peter Frederick Volanakis Director 1 Dec 2008 Other 5648569
James Maurice Norris Managing director 1 Mar 2009 Other 1783874
Vanguard Star Funds Stockholder 1 Mar 2009 Other 23-2282995
Francis Joseph Loughrey Director 1 Oct 2009 Other 5755253
Vanguard Scottsdale Funds Stockholder 1 Nov 2009 Other 27-0840999
Vanguard Charlotte Funds Stockholder 1 Oct 2011 Other 45-3707767
Martha G. King Managing director 1 Mar 2012 Other 1420059
Christopher Davis Mcisaac Managing director 1 Mar 2012 Other 2928259
Scott Charles Malpass Director 1 Mar 2012 Other 2532347
Mark Loughridge Director 1 Mar 2012 Other 6048361
Martha Geiger King Managing director 1 Mar 2012 Other 1420059
John T Marcante Managing director 1 Mar 2013 Other 2366586
John Thomas Marcante Managing director and chief information officer 1 Mar 2013 Other 2366586
Natalie Bej Chief compliance officer 1 Apr 2014 Other 6311859
Frank Lord Satterthwaite Chief financial officer 1 Apr 2014 Other 2078363
Thomas Mark Rampulla Managing director 1 Jul 2015 Other 1816948
Karin Ann Risi Managing director 1 Jul 2015 Other 3209445
Sarah Liane Houston Chief audit executive 1 Jul 2015 Other 2228004
Michael Thomas Rollings Managing director and chief financial officer 1 Jun 2016 Other 1592402
Anne Robinson General counsel, managing director, and secretary 1 Sep 2016 Other 6706699
Anne Elizabeth Robinson General counsel, managing director, and secretary 1 Sep 2016 Other 6706699
John Mark James Managing director 1 Dec 2016 Other 5594356
John M James Managing director 1 Dec 2016 Other 5594356
Brian Wayne Dvorak Chief compliance officer 1 Jun 2017 Other 2651639
Deanna Marie Mulligan Director 1 Jul 2017 Other 4562715
Sarah Bloom Raskin Director 1 Jul 2017 Other 6844984
Gregory Davis Managing director and chief investment officer 1 Jul 2017 Other 2416369
Mortimer Joseph Buckley Director and president 1 Jul 2017 Other 2167630
Mortimer Joseph Buckley Chief executive officer, president, and director 1 Jan 2018 Other 2167630
Vanguard Institutional Index Funds Stockholder 1 Feb 2018 Other 23-2601141
Joseph Patrick Brennan Managing director and chief risk officer 1 Sep 2018 Other 2193881
Mortimer Joseph Buckley Chairman of the board, chief executive officer, and president 1 Jan 2019 Other 2167630
John Schadl Chief compliance officer 1 Mar 2019 Other 6931790

Based in Malvern

The principal office where The Vanguard Group, Inc. performs its advisory services is located at 100 Vanguard Blvd, Malvern, PA 19355, which is also the mailing address of the firm. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 610-669-1000 or by fax 610-669-6600. The normal business hours are 8:30am - 5:30pm on Monday - Friday. You can find more information about the New York firm at vanguard.com.