The Vanguard Group is an American registered investment advisor based in Malvern, Pennsylvania with over $5.1 trillion in assets under management.[3] It is the largest provider of mutual funds and the second-largest provider of exchange-traded funds (ETFs) in the world after BlackRock's iShares.[4] In addition to mutual funds and ETFs, Vanguard offers brokerage services, variable and fixed annuities, educational account services, financial planning, asset management, and trust services.