View Single Post
Old 10-02-2020, 06:26 AM   #12
Junior Member
Join Date: Feb 2020
Posts: 2
thanks everyone!

What sort of services are you looking for them to provide?

I've spoken to them before on retirement planning and had them took a look at my finances but in the end I didn't engage them. The $2,000 you mentioned is one off but for my case, there is a recurring annual fees based on AUM and this fees could range from (if I recall correctly) 0.5% to more than 1%.
Mostly insurance. But seems like MoneyOwl might be a better option if I'm not sure if the $1,000/$2,000 is worth it. I don't really care about the rebate on the commission - I just don't like the conflict of interest (i.e. insurance agents get a cut of whatever they recommend, so I don't know if the agent really is recommending something that's best for me) but seems like this is the way the industry is set up in Sg.

I was sort of thinking of checking in with Providend about investments too, but might just as well DIY it if all I want to do is buy ETFs (gonna read the Shiny Things thread for this). Do you think Providend has similar offerings as MoneyOwl? Seems as though the fee structure might be the same as other robo advisors - my finances aren't complex so judging from your comments, doesn't seem as though it'll be worth it.

Just realised that MoneyOwl has some $500 rebate (ending 11 Feb) for comprehensive financial planning so I'll be trying that out - it's a bit irritating cos I have to leave my contact details and the advisor will contact me with the promo code, can't just get the promo code directly from the website. Will update if I actually go through with this.

Last edited by loldol; 10-02-2020 at 06:39 AM.. Reason: left out some info
loldol is offline   Reply With Quote