*The Vanguard Group* Vanguard works with TCS and AWS to empower more customers with accessible and expert financial planning advice.
Vanguard reimagines personal advisory services to further democratize the financial planning business through a partnership with Tata Consultancy Services (TCS) and Amazon Web Services (AWS).
TCS BaNCS used AWS to deliver accurate, out-of-box portfolio performance reporting and ensure secure data storage.
In collaboration with TCS and AWS teams, Vanguard enabled the use of AWS PrivateLink to link two different Amazon Elastic Compute Cloud (Amazon EC2) instances owned by TCS and Vanguard.
According to experts, US financial literacy ranks at about 57 percent.1 That means too many people lack a confident understanding of personal finance management, which affects everything from their checking and savings to loans and investing—and their future financial security.
To empower more customers to manage their finances prudently and seize more investment opportunities, The Vanguard Group launched Vanguard Personal Advisor Services (PAS) to reimagine the personal advisory business and significantly lower the cost of entry for customers.
Vanguard began development on PAS in 2012 to deliver the company’s proprietary financial planning methodology and expertise to customers in a series of four products spanning the entire advisory journey: financial planning, portfolio construction, portfolio monitoring, and portfolio analytics and reporting.
Vanguard worked with Tata Consultancy Services (TCS) to engineer and deliver the financial reporting and analytics functionality through TCS’ BaNCS financial solution software (SaaS). Both Vanguard’s proprietary software and TCS BaNCS are powered by Amazon Web Services (AWS).
Vanguard provides an intuitive and dynamic digital experience with personalized, goals-based financial plans and sophisticated portfolio management, as well as recommendations for portfolio optimization. Best of all, Vanguard can deliver its customers financial insights that were previously only available to high-powered investors.
Vanguard has further lowered entry barriers to investing, democratized access to financial advice, and brought to Main Street living rooms the high-quality financial advice that once was exclusive to Wall Street.
1 Milken Institute, “Financial Literacy in the United States,” 2021
