There’s an app for everything you need these days: Food, shopping, entertainment and more are all at your fingertips, 24/7, anywhere in the world. All you need is a data connection and a couple of taps on your smartphone screen. Putting your money to work for you should be just as easy, and LU Global makes it so.
Backed by Lufax, one of the world’s top fintech unicorn valued at more than one billion dollars, LU Global introduces an app that makes self-directed investments a breeze while removing many traditional barriers to entry.
It can take as little as five minutes to open an investment account if you have all your documents at hand – no more waiting in line or appointment- scheduling to open an account with relationship managers. Video and animated quick guides introduce product launches and investment terms to help new users start investing with ease.
The wealth management app also gives access to open- and closed-ended funds from partners such as J.P. Morgan Asset Management, KKR and BlackRock – some of which were previously offered only to private banking and institutional clients due to the large minimum investment sums and long lock-in periods imposed.
In contrast, LU Global offers fixed-term products with zero subscription fees, tenor periods as short as three months, and investments starting as low as US$1. With such flexibility, next- generation investors are better empowered to work their money, their way.
By removing the need for relationship managers and physical branches, coupled with the smart use of technology, LU Global lowers its operating costs so it can pass these savings on to its users. Simply put, that means you can invest in great products, without paying top dollar for the opportunity and worrying about shocking fee increases. What’s more, for a limited period, your first US$100 investment is free, once you’ve successfully opened a new account via the app. This bonus sum is a great way to get acquainted with the workings of the app.
For those worried about who you’re investing with and where, rest assured that you’re in good hands. While firmly in the league of fintech disruptors, LU Global is no small start-up – its parent company Lufax operates China’s largest financial services platform LU.com, which manages a staggering US$55.8 billion for nearly 37 million users (as of end of June 2018).
LU Global is a member of the Ping An Group, which is the number one name in insurance and the 10th largest company globally, according to the Forbes 2018 Global 2000 list of publicly traded companies, and has developed digital capabilities such as world-class facial recognition, artificial intelligence, blockchain capabilities and cloud technology, all of which LU Global leverages for risk management and to strengthen know-your customer investor checks.
With apps such as LU Global’s, a strong portfolio of competencies empowers a digital- savvy generation to approach wealth management in a new way. As LU Global CEO Kit Wong puts it, “our mission is to make investing intuitive, accessible and self-directed”.