Tag: plum

Plum expands investment offering in Ireland with ETFs

Smart money app Plum has expanded its investment offering to include ETFs in Ireland and other EU markets. Customers can invest in diversified funds by geographical region, sector and asset class, as well as tracking multiple stock market indices from around the world.

In partnership with Berlin-based fintech Upvest, Plum now offers its customers investments in EUR-denominated ETFs, including fractional shares. As a result, Plum is able to offer them a broader, enhanced investment experience, in addition to the 3,000 US stocks it already offers.

The Easy ETF range, accessible without a paid subscription, consists of three globally diversified ETFs tailored to different risk levels to help customers start their investment journey. The rest of the ETFs are available with Pro and Premium subscriptions, with more than 40 carefully selected funds on offer in total, such as S&P 500 US, Artificial Intelligence ETF or Europe Dividend Income.

The launch of ETFs follows the success of ‘Plum Interest’, an innovative product based on a money market fund offering a variable return of up to 3.80%. Paired with Plum’s stock investing product, the company aims to offer Irish savers a full suite of products to build wealth over the long-term.

Victor Trokoudes, CEO and founder of Plum, comments: “We know already that people in Ireland are great at saving. But they’ve been let down by poor interest rates and inaccessible and confusing investment options from the traditional banks and providers. That is why we have carefully selected a range of ETFs that will provide customers with more high-quality options to put their money to work.”

“The recent success of our ‘Plum Interest’ product in Ireland shows that people are hungry for innovative products to build their wealth. Now, with the addition of diversified, expertly created ETFs as well, it will be easier than ever for people to invest in the sectors and regions that matter to them, as well as being more able to find the risk level appropriate for their circumstances.”

As well as Ireland, ETFs are available to Plum customers in seven other EU markets (France, the Netherlands, Italy, Spain, Portugal, Cyprus and Greece).

Smart money app Plum expands investment offering in Ireland

Plum, the smart money app, has launched two new smart features for stock investors in Ireland. These features are aimed at improving customer understanding of their portfolio and providing them with timely information to make decisions about their investments.

Plum customers can now monitor financial instruments that interest them via ‘Watchlists’, before deciding whether to purchase them. This will enable customers to track stocks in one place, empowering them to improve their understanding of both their portfolio and the wider investment world.

In addition, Plum is introducing ‘Price Alerts’, which will allow customers to set target prices on stocks. The app then automatically notifies the customer when the share price rises or falls to the level set by them. This customised feature means investors can easily monitor all the stocks on their radar for purchasing, with Plum updating them automatically on price movements important to them.

Plum launched stock investing for Irish customers in 2022, and now offers up to 3,000 single US stocks for customers to invest in.

Elise Nunn, Plum’s wealth product manager comments: “Thanks in part to increased awareness of and access to the stock markets over the past few years, we’ve seen lots of customers join our platform to try stock investing for themselves. But what we’ve noticed is that these customers need a balance between automation and control to ensure they are able to invest wisely.”

“Both of these new features have automation at their heart, breaking down barriers that might have once made investing inaccessible. In the same way that you’d favourite an item of clothing while online shopping, you can now track stocks through watchlists and receive alerts from Plum when a set price is hit. This will help put customers in a strong position to make informed investment decisions and build their wealth.”