After equal measures of anticipation and fear, Vanguard has finally unveiled its D2C offer for the UK retail market. Advisers should celebrate. Sounds contradictory? Not at all. What’s being offered Firstly, a quick look at what is being offered. Vanguard is offering direct access to its funds through with the option of holding them through an ISA or JISA, with a SIPP to follow. Of most of interest (or rather for most ease), from a consumer perspective, will be the “do it for me” type of asset allocation funds that provide an entire portfolio management solution within a single fund. Specifically, the target risk funds, known as the Vanguard LifeStrategy funds, (with a fixed allocation to equity, e.g. 60% equity), and the target date funds, known as the Vanguard Target Retirement Funds (with a target date to match expected retirement date). For these portfolio management funds, the OCF is, for example, 0.22% (the Vanguard LifeStrategy 60% Equity Fund). A