As it adjusts, Vanguard is doubling down on managing money for individual investors, setting up a potential price war for investment advice. It’s promoting a robo-adviser that selects portfolios made up of Vanguard ETFs. For those with about $50,000 or more to invest, Vanguard pushes a reduced-cost advisory service with access to a human via phone, email or video conference. Since setting up a joint venture with China’s Ant Group Co. last December, the duo unveiled a robo adviser aimed at customers with at least 800 yuan ($122) to invest, which recommends portfolios built from 6,000 mutual funds.

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