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Plenty
Wealth for every household.

Plenty
Freemium

Home: https://www.withplenty.com

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What is Plenty?

Plenty was a financial management platform designed to help couples manage their finances collaboratively. It featured tools for net worth tracking, budgeting, goal planning, and investment management through a next-generation robo-advisor powered by machine learning algorithms. The platform aimed to provide accessible financial tools for wealth building, emphasizing shared and individual financial views for partners. Important Notice: Plenty's product is closing as the company has joined Wealthsimple to continue its mission.

The platform offered features like direct indexing, values-based investing, and tax-loss harvesting, with investment accounts held at BNY Mellon - Pershing and SIPC insured. Users could sync their financial accounts, track transactions, and set joint financial goals. Plenty's model included free access to some tools and a fee-based structure for its investment advisory services, focusing on transparency and low annual fees for long-term wealth growth.

Features

  • Net Worth Tracking: Monitor collective and individual financial standing.
  • Collaboration: Designed for couples to manage finances together with 'ours + mine' views and shared/private labels.
  • Budgeting: Tools to plan and manage spending.
  • Dashboard: Intuitive overview of financial health.
  • Investing: Next-gen robo-advisor with direct indexing, machine learning algorithms, values-based investing, goals-based investing, and tax-loss harvesting. Featured a 0.20% annual investment fee.
  • Transactions: Track spending, saving, and earning with insights.
  • Goal Planning: Set and work towards shared financial objectives.
  • Cash Management: Offered competitive APY on cash (e.g., 4.14% 7-day yield, subject to change).
  • Account Security: Investments were held at BNY Mellon - Pershing, SIPC insured up to $500k per account.

Use Cases

  • Couples managing shared and individual finances.
  • Joint investment planning and execution.
  • Tracking combined net worth and financial goals.
  • Collaborative budgeting and spending analysis.
  • Automated investment management with a robo-advisor.
  • Optimizing investments through tax-loss harvesting and direct indexing.

FAQs

  • What was the pricing model for Plenty?
    Plenty's platform could be signed up for free. There was a 0.20% annual investment fee for investment advisory services. Other standard investing fees might have applied.
  • How was Plenty built for couples?
    Plenty allowed couples to manage money with 'ours + mine' views, share access to existing accounts, start new goals together in Plenty investment accounts, and keep other finances private, all in one central hub.
  • Were Plenty accounts insured?
    Yes, investment accounts were SIPC insured up to $500k per account. Investments were held in accounts at BNY Mellon - Pershing.
  • Did Plenty offer one account or two for couples?
    Plenty supported both joint and individual brokerage accounts, allowing couples to invest together and individually.

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