Savings and investments platform Chip launched ChipX, a new membership plan that aims to boost access to more investment funds from BlackRock for its users.
The new membership plan launches with additional BlackRock funds, including actively managed, ethical funds, as well as a Stocks & Shares ISA. Some of the actively managed funds from the BlackRock MyMap include Cautious X, Balanced X, Adventurous X.
The membership also offers exclusive early access to new features and funds, as well as a members-only ChipX icon. Users of the new membership plan will have access to a wide range of investment funds from asset manager BlackRock.
The launch of the membership plan follows the release of the Chip Investment Platform in May which saw users invest in higher-risk funds, with 57% of the deposits currently held in the Adventurous fund.
ChipX is available for a £3 subscription every 28 days and offers access to the aforementioned funds and features a competitive 0.25% per annum platform fee.
Commenting on the new launch, Chip CEO Simon Rabin said, “With ChipX, we wanted to offer our users a way to try to build wealth without guessing, picking, scrolling, or trading. To show that you don’t need to be a millionaire to get the millionaire experience. It’s been a long time in the making and I’m delighted to say that it’s finally here. ChipX is our hotly-anticipated product for people who are serious about trying to earn returns.
Rabin stated that today, cash savings are dead, interest rates are down with a major uncertainty with bitcoin. He added, “Which is why we’re bringing our users a range of investment funds from BlackRock so that they can put their money to work without the hassle of checking the stock market every day.
“We have set ourselves a hefty goal of democratising savings and investments, and while there’s still a long way to go, I believe that milestone launches like ChipX are what propels us along the right trajectory and gets us ever closer to that goal.”
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