Vanguard has unveiled a new advice service for investors with $50,000 or more.

Vanguard, the Pennsylvania-headquartered investment manager, has launched Personal Advisor Services - a new personalized online offering with a lower investment minimum to cater to various investor demographic and behavioral trends.

For example, Vanguard believes that Baby Boomers who are near or in retirement are particularly well-suited for PAS. It noted that this generation (born between 1946 and 1964) represents nearly a quarter of the US population. While PAS could be valuable for investors at any stage, Vanguard said that as individuals near retirement and prepare to shift into the "drawdown" phase, the complexity of their financial situations "increase significantly." 

PAS marries the "sophistication of digital advice providers with the personal relationship and judgment of a human advisor," Vanguard explained. It is aimed at investors with at least $50,000, with an annual advisory cost of 0.3 per cent of a client's managed assets - or $150 on a $50,000 portfolio annually.

"We value the role that an advisor plays in helping our clients achieve better results," said Karin Risi, head of Vanguard Personal Advisor Services. "In fact, Vanguard's Advisor's Alpha research quantifies the key role an advisor plays in constructing a portfolio and serving as a behavior coach. In particular, an advisor can act as an emotional circuit breaker during periods of market volatility, make adjustments to a financial plan when a client's financial situation changes, and counsel clients on other financial issues."

The launch follows a two-year pilot period for investors with $100,000 or more, during which the service attracted more than $7 billion in new assets through March 31, 2015. 

Vanguard said it is transitioning clients of Vanguard Asset Management Services - which provides wealth management, trust, and estate planning services - to the new platform.