Life insurance firm Pacific Life has launched Swell, a social impact investing platform open to investors with as little as $500 to commit.
The venture, Swell, is a similar concept to other impact-focused investing platforms targeting everyday investors that have launched and raised money recently (OpenInvest closed a seed round of funding earlier this week).
Swell is not a robo-advisor, however; its “rules based” investing is backed by a portfolio management team.
Swell’s six portfolios are aligned with MSCI index’s environmental, social and governance criteria and the U.N.’s Sustainable Development Goals, among other metrics.
It charges a flat 0.75 percent annual fee.