Vanguard founder Jack Bogle has resigned from his position of chairman of the board of standards at Advizent LLC, the adviser marketing cooperative, according to InvestmentNews.

The trade publication cites an Advizent statement that explains that Bogle had stepped down due to time constraints.

“Because of substantial other commitments, he is not able to devote the necessary time and effort to our project,” the statement reads. “However, Jack continues to strongly support Advizent's mission to educate investors and hold advisers to high standard practices.”

InvestmentNews calls the July appointment of Mr. Bogle as chairman was something of a coup for Advizent, the upstart adviser marketing cooperative co-founded by Charles Goldman, the former head of Schwab Advisor Services, and Steve Lockshin, founder of Convergent Wealth Advisors and Fortigent LLC. 

Edited by: Tommy Fernandez


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