Plenty requires an initial $100 deposit and charges a $150 annual membership fee for individuals or $200 per couple, with both people getting their own Plenty account. In addition, users get an AI-powered direct indexing strategy that Luk said has historically required a $500,000 investment minimum. There is also a cash management product - a portfolio backed by money market funds currently offering 4.83% annual percentage yield. Users connect their financial accounts and then can choose which accounts to share with their partner. Here’s how it works: The wealth-building platform enables users to join as individuals or couples. There is also automated forecasting so that couples can plan for milestones they want to achieve together, like paying off student debt, buying a house or having a child. They left Even last year, before the acquisition, and set out to build Plenty as an SEC-registered Investment Advisor with a goals-based approach to investing. Luk recalls finding options for growing wealth when you’re already wealthy, but when it came to people not in that category, she said options were limited for products that didn’t have high upfront fees or ones that provided potentially predatory advice. They got engaged to each other in late 2021, and got the idea for Plenty as they looked for products to help them plan their finances together, Luk told TechCrunch.
Plenty, a one-year-old company that helps couples discuss, manage and invest their money together, is the latest to launch its platform, focused on millennials who want access to wealth-building opportunities that take into account their relationship status.Ĭo-founders Emily Luk and Channing Allen met while working together at Even, which was acquired by One in 2022.
Relationships are complicated - however, thanks to some fintech companies, mingling the finances of these modern couples can be easy.
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