Vanguard Group has discontinued a cash management service for larger customers. The Malvern-based investment management giant said VanguardAdvantage, formed in 2002, no longer met the needs of its clients.
VanguardAdvantage allowed customers to write checks, pay bills, and use a debit card to withdraw cash from one of its accounts. It was offered for an annual fee to customers with between $500,000 and below $1 million invested with Vanguard and was free to those exceeding $1 million.
