Vanguard CEO Salim Ramji made a promise to wealthier clients in his May 1, 2026, letter to investors. For investors with higher assets and more complex needs, he wrote, Vanguard was “bringing back a more personalized tier of service under the Flagship name.”
That service is now arriving. In mid-October, Vanguard emailed self-directed investors with $1 million to $10 million to tell them they had been enrolled, RIABiz reported Oct. 23.
The same letter carried a line worth holding onto: “High-quality financial advice shouldn’t be a luxury good.” Flagship is mostly about service. Ongoing advice is a separate product with its own price.
What $1 million gets you at Vanguard
Flagship is open to Vanguard Brokerage Services clients with $1 million to $10 million in qualifying assets, and there is “no fee to be in Flagship,” Vanguard says. Eligible clients are enrolled automatically.
The package includes a dedicated Flagship phone team, priority live chat with human representatives, a higher yield on Vanguard’s Cash Plus account, a TurboTax discount and preferred margin rates.
Flagship clients may also qualify for full or partial reimbursement of another firm’s fee when they move assets to Vanguard through a qualifying transfer.
For the first time, non-Vanguard funds held at the firm can count toward the $1 million minimum, according to RIABiz.
A consultant is not a financial plan
Flagship clients get access to financial consultants, whom Vanguard pitches for big decisions like approaching retirement, but whose guidance it describes as being on “Vanguard products and services.”
That can help with an account question or a fund choice. It is not the same as someone building a withdrawal plan around your taxes, Social Security and Medicare costs.
Vanguard sells that kind of help separately. Vanguard Personal Advisor requires $50,000 and charges about 0.30% a year for an all-index portfolio, before fund expenses. On $1 million, that’s roughly $3,000 a year. Vanguard Digital Advisor, the automated version, charges 0.15% and starts at $100.
Titles can blur the line between a service rep and a planner, and the letters after a name, from CFP to RIA, each mean something different. So does the source of the guidance itself, since retirement advice varies widely in quality depending on who is giving it.
Schwab draws the same line
Schwab automatically enrolls households with more than $1 million in qualifying assets in Schwab Private Client Services. Members can consult specialists on legal, tax and retirement strategies.
That access is part of the complimentary program, Schwab says, “but payment for their services beyond the initial consultation is not.”
At both firms, a big balance buys better service. Ongoing planning is billed on top.
Questions to ask before you consolidate
Flagship rewards consolidation, and Vanguard says moving more assets there helps you qualify. Before you shift accounts to clear a threshold, get three answers.
- What counts. Vanguard defines qualifying assets in its brokerage fee schedules, so confirm your own total before assuming you are in.
- Who is advising you, and how they are paid. Brokers and advisors must give you a relationship summary called Form CRS when you open an account or make a change such as an IRA rollover. It spells out the services you get and how the firm is paid.
- What advice costs in dollars. A percentage fee looks small until you multiply it by your balance.
Getting a plan without a tier
Planning help does not require a seven-figure balance. If you have $100,000 or more in investments, SmartAsset can match you with up to three fiduciary financial advisors, who are legally required to act in your best interest. The service is free, comes with no obligation, and nearly all advisors offer a free first appointment.
The questionnaire takes about 10 minutes and asks for a phone number near the end, and you control whether and when you respond to anyone. Get matched with a fiduciary advisor.
Before your first Flagship call
If you have been enrolled, use the first call to ask the consultant which decisions they can help you make and which ones belong to an advisor.
Write down the answer, along with the dollar cost of any advice service they suggest. Use that figure to compare against every other option.
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