Excellent! ROSHI has found 11 Robo-Advisors that suit your criteria.
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Phillip SMART Portfolio
On Phillip SMART's website
On CONNECT's website
On UTRADE's website
On AutoWealth's webste
On OCBC's website
On SquirrelSave's website
On StashAway's website
Once you open an account, you’ll need to to provide your personal details and investment goals. Following this, you’ll need to deposit your initial investment amount.
With all this information, your robo advisor will determine where and how to invest, offering you investments that match your chosen parameters.
The first thing you will want to consider is the fees of each robo advisor. Every platform has a different set of fees. Usually, these fees will vary from 0.25% to 1%. The fee may also be higher for a larger investment.
On top of this, you also need to look into minimum investment and risk options for each platform. If they do not match your investment goals, there’s no point in opening an account with them.
Finally, ensure that the robo advisor has good customer reviews.
|StashAway||Deep Analysis of Economic Cycles||Open Account|
|AutoWealh||Diversified Investment Strategy||Open Account|
|Syfe||ETF Portfolios||Open Account|
|Endowus||Lowest fees||Open Account|
Most commonly, robo advisors invest in a mix of commodities, bonds, ETFs and stocks. Each platform has a different set of asset classes that they work with.
Most platforms go with ETFs as they are easier to invest in. Your robo advisor can create quite a substantial portfolio using them, making it easier for you to invest safely.
The advantage of unit trusts is that they are controlled by professional fund managers, which likely gives you higher returns.
Utilizing foreign currency will also bring about an additional 0.16-0.3% exchange fee.
It’s an electronic advice investment service. It uses a machine learning algorithm to provide this advice. The service offers free maintenance for your investment portfolio. The program will calculate your ideal investment strategy via your financial goals and risk level.
General fees & minimum investments as follows:
Yes, they are regulated by MAS. They are required to be licensed with SFA or FAA. MAS tries their best not to slow down this developing industry.
Most platforms can be licensed as long as the board contains at least several experienced members. However, they will have limited investment options if they do not provide all requirements.
You could go through a typical brokerage firm, a financial advisor, or your bank. These tend to be more expensive so consider moving your investments to a robo advisor.
They are best for people aiming at smaller investments who have a basic understanding of different assets classes and investments types.