T3’s Joel Bruckenstein weighed in on Vanguard’s $4.6 billion acquisition of Altruist in RIABiz: “The sale at this price is impressive,” especially when compared to the $300 million Robinhood paid for TradePMR. “Robinhood underpaid, or Vanguard overpaid.” Referring to the intended structure of the deal in which Altruist is to remain a standalone business, Joel added: “We always hear these statements when a takeover is announced.”
Read the article: Vanguard Group and Altruist can win RIA hearts
