Vanguard has acquired wealth management platform Altruist in only the firm's second acquisition, expanding its advisory strategy and making the asset manager a custodian. The deal adds infrastructure as Vanguard seeks to broaden access to financial advice, which it prices at 5 to 25 basis points depending on account minimums. Salim Ramji said advice has become a "luxury" and that Vanguard aims to make it accessible to more people. Most of Vanguard's advisory clients have historically been existing Vanguard fund investors rather than new customers from outside the company.