Vanguard Robo-Advisor
The investing advisor for people who are overwhelmed by investing.
Overview
While many people want to get into investing, starting can be difficult and confusing. Investing is full of confusing new terms, an overwhelming amount of strategies, and hundreds of people telling new investors that they should and shouldn’t do certain things.
The aim of this redesign is to give users the tools they need to be confident in their abilities and investment choices.
Its success can be measured through user testing and how easily users are able to complete tasks that a new user might complete.
Original UI Testing
Using pages from both the public and private-facing Vanguard Digital Advisor site, my group conducted six user tests. All users had little experience in finance or no experience in finance at all, as shown in the graph to the right.
Results of the UI tests showed that users found terminology on the public-facing Digital Advisor page to be unclear and some of the FAQ section of the private-facing Digital Advisor page to be unnecessary. Moving forward, our recommendation for Vanguard was to include educational resources about financial investment for users and to push the FAQ page to the public-facing forum.
Audience Analysis Chart
Group Personas
Finance Bro-Wannabe Brad - Is a major in business and believes he should be managing his money smartly. Doesn’t really know about big money investing, though he does own a couple of stocks and has sold sneakers in high school before. Has dabbled in his dad’s business but mostly through nepotism, and has no experience with investing with a digital advisor.
Lost Lily - Has no experience with investing, is scared by it. Her parents taught her to save her money and not put trust in investments due to the risk that is always possible with investing. She is a young adult, about to graduate college, and has been hearing that investing is important but is scared and not sure where to begin.
Ambivalent Annie - Is neutral and open towards the idea of investing. Doesn’t have preconceived notions regarding danger or trustworthiness of AI or investment strategies in general. Is in her late 20’s and has had a stable job for a few years. She is open to starting an investing account because she has the money and is living comfortably, but doesn’t know much about it.
Hesitant Hank - experience in own finance, limited experience in tech. Interested in starting an investment account with Vanguard, but wants to learn more about how the Digital Advisor works before he trusts it with his money.
Business Bro Brad: thinks he knows more about investing than everyone else, and probably feels too smart to use a financial advisor. He is probably in his late 20s, he would be interested in opening a business account if he knew that it would be easier for him, but would probably be hesitant while he feels educated to do it himself.