NEWPORT BEACH, Calif., Aug. 24, 2017 /PRNewswire/ -- Swell Investing announced today two new updates to its platform – the ability to open an IRA and rollover an existing 401(k) or IRA, as well as a new lower minimum option. Swell now offers one of the most accessible impact investing IRA options today with its new $50 minimum.
Swell was incubated by Pacific Life, a company with nearly 150 years of experience in financial services, and built in partnership with design thinking firm IDEO. Nearly every member of Swell's team is engaged with investors each week, listening to them and incorporating their feedback into the platform. Since launching in May, Swell's investor base has grown by an average of nearly 20% week on week and the average account balance to date is in excess of $4,000.
"Every week we sit down and listen to users as part of our human-centered design approach," said Dave Fanger, CEO of Swell Investing. "Overwhelmingly, we heard that investors want to shift money they are already investing for the future into an impact option. That's why we set our sights on an IRA and rollover option."
Swell currently offers six portfolios focused on addressing social and environmental challenges: Green Technology, Renewable Energy, Zero Waste, Clean Water, Healthy Living and Disease Eradication. The portfolios offer retail investors the opportunity to invest in nearly 300 companies chosen for their commitment to progress as well as their potential for growth. Swell portfolios combined have returned 18% and individually up to 30% to investors since inception September 2016 through July 31, 2017.
Using a rules-based approach, Swell's impact team pulls from thousands of sources daily, including each company's MSCI ESG (Environmental, Social and Governance) rating and its alignment with the United Nation's Sustainable Development Goals. Swell differs from others in the socially responsible investing (SRI) space in that it also requires each company to derive revenue from its associated impact theme, an indicator that it is actively contributing to progress.
"With Swell, investors don't have to choose between purpose and profit," said Dave Fanger, CEO of Swell Investing. "Today nearly anyone can get started and invest their dollars towards companies that are working to solve the world's greatest challenges."
Swell Investing LLC is an SEC registered investment adviser. Brokerage services provided to clients of Swell Investing LLC by Folio Investments, Inc., an SEC registered broker-dealer and member FINRA/SIPC.
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