Smartly

Okenba

Supremacy Member
Joined
Nov 14, 2012
Messages
5,324
Reaction score
1,004
Smartly seems to have been down for several months already. Not sure what is going on.
 

JetStorm

Senior Member
Joined
May 27, 2007
Messages
1,574
Reaction score
63
Liquidity issues perhaps?

Sent from Xiaomi REDMI NOTE 8 PRO using GAGT
 

s0crates

Senior Member
Joined
Jan 15, 2015
Messages
1,398
Reaction score
412
People don't understand that these robos need scale and size to be sustainable.

Actually I was a bit surprised that grab didn't buy smartly out instead. Some of the older platforms are struggling and they would have done well to get acquired by Grab.
 

BeefCutlet

Banned
Joined
Dec 20, 2019
Messages
4,100
Reaction score
1
People don't understand that these robos need scale and size to be sustainable.

Actually I was a bit surprised that grab didn't buy smartly out instead. Some of the older platforms are struggling and they would have done well to get acquired by Grab.

:eek: those who put their life savings inside how sia
 

JetStorm

Senior Member
Joined
May 27, 2007
Messages
1,574
Reaction score
63
Really makes me wonder if going with the robo offered by banks is a better choice. Now really deciding between uob robo due to good funds vs syfe due to low fees. Based on my projected investment.. dun think i can hit 925k for stashaway

Sent from Xiaomi REDMI NOTE 8 PRO using GAGT
 

assiak71

Master Member
Joined
May 3, 2018
Messages
4,643
Reaction score
43
Really makes me wonder if going with the robo offered by banks is a better choice. Now really deciding between uob robo due to good funds vs syfe due to low fees. Based on my projected investment.. dun think i can hit 925k for stashaway

Sent from Xiaomi REDMI NOTE 8 PRO using GAGT

Stashaway can add up srs too fyi

For uob kay hian, they dont disclose their etfs right
 

JetStorm

Senior Member
Joined
May 27, 2007
Messages
1,574
Reaction score
63
Stashaway can add up srs too fyi

For uob kay hian, they dont disclose their etfs right
Not that i know of based on their website. For srs, once my parenthood rebate runs out, i will start srs by buying g3b with ocbc bcip.

Planning to follow brother tangent314 on using cash for foreign stocks or in my case robo... Srs for local equity and cpf for bonds.

At this rate...this year will be the year where my portfolio makes a big change in terms of cash allocation.

Sent from Xiaomi REDMI NOTE 8 PRO using GAGT
 

2474265

Junior Member
Joined
Jul 18, 2019
Messages
87
Reaction score
0
Wah robo very dangerous Sia... if they suddenly close shop we suck thumb?

It seems MAS is very strict when it comes to segregation of assets. CMS license holders cannot touch client assets, so even if they go bust, they cannot touch client assets and everyone will receive their money back, because MAS will appoint a new fund manager to take care of customer
 

sgdividends

Senior Member
Joined
Oct 11, 2008
Messages
2,372
Reaction score
12
Just thinking.

SDIC insure up to 75k for bank deposits.
Why need to insure when our funds are already segregated , im assuming?

asking because these robo platforms state their funds are segregated but is segregation enough to protect funds?
 

sgdividends

Senior Member
Joined
Oct 11, 2008
Messages
2,372
Reaction score
12
Just thinking.

SDIC insure up to 75k for bank deposits.
Why need to insure when our funds are already segregated , im assuming?

asking because these robo platforms state their funds are segregated but is segregation enough to protect funds? If yes, then why need SDIC for bank deposits?
 

2474265

Junior Member
Joined
Jul 18, 2019
Messages
87
Reaction score
0
Just thinking.

SDIC insure up to 75k for bank deposits.
Why need to insure when our funds are already segregated , im assuming?

asking because these robo platforms state their funds are segregated but is segregation enough to protect funds? If yes, then why need SDIC for bank deposits?

the bank needs sdic because they have your money

different for a robo advisor which purchases securities (stocks, bonds, commodities) for you and uses a bank as a custodian (e.g. hsbc, citi)

you need sdic because if your bank goes bust then at least 75k are protected by sdic, the rest is most likely lost

if a robo (CMS license holder) goes bust, assets are still with the custodian
 

Han Shot First

Senior Member
Joined
May 28, 2017
Messages
690
Reaction score
15
different for a robo advisor which purchases securities (stocks, bonds, commodities) for you and uses a bank as a custodian (e.g. hsbc, citi)

The uninvested cash is with a bank as a custodian.

if a robo (CMS license holder) goes bust, assets are still with the custodian

Are you sure you are the beneficial owner of the securities? Did Smartly inform its investors (in black and white) that they are the beneficial owners of the securities (or are you making assumptions)?
 

S1mpleGuy

Master Member
Joined
Jan 11, 2015
Messages
3,634
Reaction score
11
It seems MAS is very strict when it comes to segregation of assets. CMS license holders cannot touch client assets, so even if they go bust, they cannot touch client assets and everyone will receive their money back, because MAS will appoint a new fund manager to take care of customer
Will they force sell the assets if that happens? Yes i will get my money but if its in the red i will still lose
 

tangent314

Moderator
Moderator
Joined
Jul 26, 2002
Messages
5,135
Reaction score
218
Will they force sell the assets if that happens? Yes i will get my money but if its in the red i will still lose

Even if they force sell, it doesn't really matter.
Just use the money and buy equivalent assets through a broker or another robo.
 

hwmook

Arch-Supremacy Member
Joined
Dec 12, 2002
Messages
24,410
Reaction score
1,126
Just thinking.

SDIC insure up to 75k for bank deposits.
Why need to insure when our funds are already segregated , im assuming?

asking because these robo platforms state their funds are segregated but is segregation enough to protect funds? If yes, then why need SDIC for bank deposits?

For bank deposits, the banks have your money and can use it for any purpose. They can loan out these money for business, invest in forex, stocks or anything they like. Basically you are lending this money to the banks in exchange for interest rate. If the bank go bust, you get back max 75k from SDIC insurance.

For stocks, funds etc that you purchase from brokers, robo advisor etc, these assets belong to you and the brokers are not allowed to trade these stuffs for their own purpose. If the brokers go bust, you will get back everything.

Putting money in deposits actually carry a higher risk, that's why they need an insurance.
 
Important Forum Advisory Note
This forum is moderated by volunteer moderators who will react only to members' feedback on posts. Moderators are not employees or representatives of HWZ. Forum members and moderators are responsible for their own posts.

Please refer to our Community Guidelines and Standards, Terms of Service and Member T&Cs for more information.
Top