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Plum introduces Watchlists and Price Alerts to support stock investor decision-making.
28 April 2023
LONDON, UK - Plum, the smart money app, is today launching two new smart features for stock investors. 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.
Plum launched stock investing in May 2022, and now offers up to 3,000 single US stocks for customers to invest in. One fifth of the investors on its platform are choosing this method to grow their money over the long-term.
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 the best possible position to make informed investment decisions and build their wealth.”
Recent research from Plum into young people aged 18-44 showed that knowledge and interest in investing is growing. Two thirds (67%) of young people think that new technologies make saving and investing easier to understand, while close to one in four (23%) are considering investing in stocks to make their money work harder**.
However, the cost of living crisis has impacted appetite for risk, with nearly three quarters (72%) of young people agreeing that the state of the economy has made them less likely to take risks with their cash. The stock market has been increasingly volatile over the past 12 months, with the VIX index at a 4-year high in March, making savvy investment strategies even more critical.
Nunn added, "Investment platforms need to ensure they are equipping customers with the right tools to help them invest confidently in this challenging environment. Both first timers and more experienced investors need to be ready with the right knowledge at the right time about their portfolio. These improvements to our platform will ensure that our customers feel empowered at every stage of their wealth-building journey.”
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*Price Alerts available currently on Plum Premium only.
**Research conducted by OnePoll on behalf of Plum. Results gathered between 10/3/2023 and 15/3/2023 of 1,725 respondents aged between 18 and 44 years old.
Plum is money, motivated. We’re the ultimate smart money app, with the mission to make wealth building automatic. Founded in 2016 by Victor Trokoudes (ex-Wise), Plum automates parts of personal finance that people find difficult or don’t have time for, helping them save, invest, budget and manage their spending. Plum has over 1.5 million customers across the UK and EU, helping them set aside more than £1.5 billion. The app ranked no.1 among fintechs and no.5 overall in the 2022 Deloitte UK Technology Fast 50, a ranking of the 50 fastest-growing technology companies in the UK. Plum is headquartered in London, UK, and has offices in Athens, Greece and Nicosia, Cyprus.
Disclosures
Plum is the trading name for Plum Fintech Limited (no. 09952199). Plum Money is the trading name for Saveable Limited (no. 09777255). Plum Fintech Limited and Saveable Limited's registered office is on Floor 2, 2-7 Clerkenwell Green, London, EC1R 0DE. Saveable Limited is a wholly owned subsidiary of Plum Fintech Limited.
Plum Fintech Ltd is registered with the Financial Conduct Authority as an Account Information Service Provider (FRN: 836158) and an electronic money agent (FRN: 902844). Saveable Limited is authorised and regulated by the Financial Conduct Authority (FRN: 739214).
Plum is an electronic money agent of PayrNet Limited. PayrNet Limited is authorised by the Financial Conduct Authority as an Electronic Money Institution (FRN: 900594). PayrNet Limited is registered at Kemp House, 152 City Road, London, EC1V 2NX, UK.
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