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Revolut and Plum have their sights set on disrupting the wealth management industry with cheap and easy-to-use investments that suit customers traditional managers find hard to attract.
A beta version of the offering, which was open to 2,000 customers, has been running over the summer and £500,000 has been invested so far. Plum will offer three Vanguard funds designed for different risk profiles: conservative, balanced and growth. It will also provide access to three themed funds: an LGIM tech fund, an SLA ethical fund and a Vanguard emerging markets fund. Victor Trokoudes, Plum chief executive, said the themes were chosen to appeal to the interests of millennials and that the company would consider rolling out funds focused on the environment, healthy eating and artificial intelligence.
https://www.ft.com/content/6c6ba12f-9964-3b82-8da7-281f937c1f20
