Vanguard’s explosive early growth with its Personal Advisor Services — $13.1 billion in assets under management in six months — suggests that the service will be a transformative offering, writes Forrester Vice President and Principal Analyst Bill Doyle in new research evaluating the product.

Personal Advisor fills needs that have thus far only been met by robo-advisors. With a lower investment minimum, consumers who previously couldn’t afford a personal advisor can now benefit from this service that is part automated platform and part human financial advisor. “The market may not realize it yet,” notes Doyle, “but this service will have a big impact.”

Learn more about the research here.