Supplement to the Vanguard Personal Advisor …

1 Supplement to the Ask a CFP Professional, Vanguard Financial Plan, and Vanguard Personal Advisor Services Brochures April 27, 2018. Vanguard Advisers, Inc. 100 Vanguard Boulevard Malvern, PA 19355. 800-416-8420. This brochure Supplement provides information about the Ask The certificant must pass the CFP Certification Examination a CFP Professional, Vanguard Financial Plan, and Vanguard that assesses his or her ability to apply financial planning Personal Advisor Services advisory services under knowledge, in an integrated format, to financial planning Vanguard Advisers, Inc.

2 ( VAI ), the registered investment situations. Advisor ,that supplements the Ask a CFP Professional, The certificant must have three years of full-time relevant Vanguard Financial Plan, and Vanguard Personal Advisor Personal financial planning experience. Services Brochures. The certificant must agree to adhere to the Certified You should have received a copy of the respective brochure. Financial Planner Board of Standards' Code of Ethics and Please contact VAI at the number above if you didn't receive Professional Responsibility, Rules of Conduct, and a brochure or if you have any questions about the contents of Financial Planning Practice Standards.

3 This Supplement . VAI has no affiliation with the Certified Financial Planner Additional information about VAI is available on the SEC. Board of Standards. website at Ask a CFP Professional, Vanguard Financial Educational background and business experience Plan, and Vanguard Personal Advisor Services Your financial planner from Vanguard Advisers, Inc. ( VAI ), financial planners will have several years of experience with investment In addition to name, year of birth, and formal education after products in addition to the Vanguard group of mutual funds high school, the current position and business experience for and is a registered investment Advisor representative.

4 At least the preceding five years is included below for each All of VAI's financial planners have completed Vanguard 's financial planner. own financial training program covering: retirement and Caroline Elise Allen, CFP (1984). education investing and analysis, investment and asset Finance, Grand Valley State University (2008). allocation principles, VAI's investment advisory methodology, Financial planner, Vanguard (2018 present); investment client communications, ethics, and compliance issues. In consultant, Vanguard (2014 2018); investment specialist, addition, the financial planners participate in ongoing Vanguard (2013 2014).

5 Seminars and training programs conducted both by Vanguard and by independent financial planning organizations. Elizabeth Battaglia (1991). Business administration, The University of Vermont Many of VAI's financial planners hold the Certified Financial (2013). Planner (CFP) certification. To obtain the certification, Financial planner, Vanguard (2018 present); client service financial planners are required to meet the following four administrator, Retirement Direct (2016 2017); client service criteria set forth by the Certified Financial Planner Board specialist, Vanguard (2013 2016).

6 Of Standards: Brian Michael Davis, CFP (1989). The certificant must have a bachelor's degree (or higher). Finance, The University of Arizona (2012). or its equivalent, in any discipline, from an accredited Financial planner, Vanguard (2018 present); assigned college or university, and successfully complete one representative, Vanguard (2014 2018); client service of the following additional education requirements: a specialist, Vanguard (2013 2014). CFP board-registered program, a challenge status, or a transcript review.

7 Connect with Vanguard > 800-416-8420 1. Melissa Einberg, CFP (1965) Vincent Maimone, CFP (1987). Economics, Brandeis University (1986) Finance, Temple University (2009). Finance, Harvard Extension School (2014) Financial planner, Vanguard (2018 present); senior financial Financial planner, Vanguard (2018 present); financial Advisor , Capital One Investing (2016 2018); financial Advisor , planner, self-employed (2016 2017); wealth Advisor , AXA Equitable (2013 2016). Buckingham Strategic Wealth (2016); financial Advisor , Gordon Michael McCay, CFP (1977).

8 Gage-Wiley & Co., Inc. (2014 2016); financial planner, self- Business administration, College of Charleston (1999). employed (2014); wealth Advisor , Forteris Wealth Financial planner, Vanguard (2018 present); senior wealth Management (2013 2014); wealth Advisor , Altfest Wealth Advisor , Linden Thomas & Company (2017); client service Management (2013). director, Robert Half Management Resources (2017);. Desislav Genov, CFP (1982) dedicated retirement planner and financial Advisor , Fidelity International business, University of National and World Investments (2013 2017).

9 Economy (2006). Robert McDevitt, CFP (1958). Financial planner, Vanguard (2018 present); retirement , Temple University (1980). planning specialist, Nationwide (2014 2018); paraplanner, Finance, Drexel University (1986). Hanson Ayala & Associates (2013 2014); registered Financial planner, Vanguard (2018 present); business representative, Charles Schwab (2013). consultant, Continental Packaging (2016 2017); vice Nathan Goings, CFP (1987) president retirement plan services, AEPG Wealth Strategies Financial management, The Ohio State University (2011) (2014 2016); retirement plan consultant, RTD Financial Financial planner, Vanguard (2018 present); assigned Advisors (2013 2014).

10 Representative, Vanguard (2016 2018); retirement specialist, Martin P. Monahan, CFP (1983). Vanguard (2013 2016); associate Advisor , The Monitor History, Winthrop University (2005). Group (2013); retirement associate, Fidelity Investments Finance, Winthrop University (2014). (2013). Financial planner, Vanguard (2018 present); sales Justin Graupensperger, CFP (1980) consultant, Vanguard (2014 2018); investment specialist, Marketing, Shippensburg University (2004) Vanguard (2013 2014). Financial planner, Vanguard (2018 present); relationship Todd D.