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As of March 31, 2024, Vanguard manages approximately $9.3 trillion in assets, positioning itself as the second-largest asset manager globally, following Black Rock. In addition to managing index funds and ETFs, Vanguard offers brokerage accounts, prioritizing low-cost investing strategies primarily for buy-and-hold investors. However, it neither operates a bank nor holds a banking license, which distinguishes it from some competitors in the market.