Earlier this year, Vanguard – the largest issuer of mutual funds in the world and the second-largest issuer of exchange-traded funds – claimed it would roll out a new app designed with clients’ needs in mind. The problem is that barely one month into its launch, clients are overwhelmingly giving it a thumbs down on review platforms.

Why should we care?
When Vanguard initially announced the app revamp, it said it would consider client feedback and human-centered design to improve functionality. The goal would be to offer a “single, all-encompassing tool that supports all of our investors,” the company said. But among more than 6,700 reviews on the Google app store, the average rating is just two stars. “The thing I can’t stand about the latest version is the constant screen scrolling. The font is so enormous that I can only view one transaction at a time, and [I] need to take a motion sickness medication to scroll back and forth between my account info,” one customer wrote. Meanwhile, on Bogleheads.org, an investing advice forum, contributors weren’t offering rave reviews. And while reviews on the Apple app store were on average higher (4.7 stars), recent reviews are decidedly more critical. One Twitter user called it “the worst financial app I’ve ever used.” Asked for comment, the company said it plans to introduce upgrades including a new look and feel and “the ability to initiate transactions from the research pages.” Let’s hope the new, improved user experience the company says it will deliver will correspond to customer feedback.