News, Vision & Voice for the Advisory Community


Vanguard makes mockery of 'digital' myth by reporting $1.3 trillion after its new mobile app's panned debut -- then makes Tara Bunch a director

The talent who made AppleCare work before Airbnb joins the $8.4 trillion AUM giant hot on the heels of two fresh software glitches that sparked industry debate over Vanguard's technology.

Author Oisin Breen December 9, 2021 at 3:19 AM
no description available
Vanguard is likely hoping that the millennial friendly software design know how that Tara Bunch (pictured) picked up over her 30 year career will rub off on the firm.



December 10, 2021 — 10:53 PM
The new Vanguard app is close to worthless it overemphasizes return percent. Much more important to me is to see all my assets in a grid Excel like sheet view, like everyone does.


December 11, 2021 — 12:27 AM
The following paragraph overstates Vanguard’s growth: “ Vanguard Group again this fall shrugged off a barrage of criticism lobbed toward its technology -- this time related to its new mobile app -- by adding $1.3 trillion year-to-date in new asset growth.” While assets have grown year to date by $1.3 trillion-the vast majority of that growth can be attributed to market performance- Morningstar states that Vanguard has garnered $373 billion in new assets YTD through October 2021. That means assets increased by roughly $900 billion as a result of positive market returns, The $373 billion is the largest amount of any Fund Family according to Morningstar.
brooke southall

brooke southall

December 11, 2021 — 1:56 AM
Ed, Yes, not net new assets. It added that amount, $1.3B to its total.


December 11, 2021 — 8:36 PM
“Ed, Yes, not net new assets. It added that amount, $1.3B to its total.” Brooke should that read $1.3 Trillion?
brooke southall

brooke southall

December 11, 2021 — 8:38 PM
Ed, Argh, yes. You're hired.


December 26, 2021 — 12:18 PM
Overlooked in the discussion of the Vanguard mobile app is that on August 10, 2021 Vanguard had the best mobile app among its peers On August 11, 2021 this excellent mobile app was replaced by a dysfunctional, broken, app which listed dashes instead of figures for gain/loss, and that does not provide access to accounts that were accessible the day before, and on which most transactions could be performed. The app was apparently designed for would-be Wall Street Bros to thumb scroll through their meme stocks. The app remains in a broken useless state four months after its infliction upon Vanguard retail investors and none of the "Flagship" advisors has any clue whatsoever about this situation. Why anyone would trust Vanguard with an opaque Robo advisor algorithm or pay for their Personal Advisors is beyond me.

Related Moves

Tim Buckley sends shockwaves by retiring as Vanguard CEO after adding $750 billion per year during his stay in the executive suite

The 54 year-old lasted just over six years in the job, delivered on targets, but he also made head-scratching decisions and never solved its technology woes

March 1, 2024 at 3:35 AM

Biz Briefs: Vanguard's tax-loss harvest yields a caveat• Vermont green with envy ... of red states? • CFP Board spends $12 million on bungee metaphor • BlackRock isn't neutral on Credit Suisse • Women are the Goliath of 'David' in UK finance

Tax-loss harvest gains may have some home assembly required, says Jeff DeMaso • Adrian Johnstone is now in the driving seat at Practifi • CFP Board spending just topped $150 million • and Vermont shares some Texas thinking on ESG investing.

March 25, 2023 at 1:32 AM

Biz Briefs: Fidelity says humans beat robots, even for Gen Z • Joe Lonsdale's Opto starts signing RIA test-drivers • Vanguard launches oddly delayed fund • Wealthbox hires, and Dynasty buys

Fidelity wins Delta Airlines business with sweetener • Opto pairs-up with Riskalyze and Merchant • Moonfare raises $15 million • CAIS bucks real estate trend • Vanguard launches "curious[ly]" delayed fund • WealthBox, Dynasty, and others buy and hire.

March 8, 2023 at 3:28 AM

Biz Briefs: Schwab puts checks for $52 million in mail to robo-RIA customers allegedly misled about cash allocations • BlackRock blacklisted (again) • iShares beats NZAM-exiter Vanguard • Fidelity makes first acquisition in eight years • CFP board realizes Moms don't like CFPs

BlackRock gets Kentucky coal in stocking, and Vanguard keeps skating; iShares inches above -- by 2.8% -- Vanguard's annual net new ETF asset haul; Fidelity takes "natural next step" for stock plan business; new CFP chair outlines plans and the DOJ is set to become a major Robinhood shareholder..

January 13, 2023 at 3:01 AM

See more related moves

RIABiz Directory

The Industry Sourcebook for RIAs

   |    LISTING

RIABiz Directory sponsored by:

Directory Sponsor Logo