FSMOne web platform

[teckgamer]

it roughly took 3 days to transfer to cash account from auto sweep.

how does the conversion of USD works?
cash account SGD to another cash account USD?

pardon me for asking this,
aren't you bothered by the withholding tax of 30% from these 2 counters?
other than that, the management fee is considered very low.

I didn't use auto sweep yet haha. Just set up my FSM account - so what I did was to ibank to top up my cash account (through fast transfer).
And then do a FX Conversion from SGD to USD.
So right now I have 2 cash account - 1 in SGD and 1 in USD.

Yeah it did bother me a little - but the alternative is IWDA which is not available in FSM. Right now, I'm doing RSP about 150USD each - so I think any dividend declared would likely be nullified by their dividend charges anyway.

 

[5408854088]

it roughly took 3 days to transfer to cash account from auto sweep.

how does the conversion of USD works?
cash account SGD to another cash account USD?

pardon me for asking this,
aren't you bothered by the withholding tax of 30% from these 2 counters?
other than that, the management fee is considered very low.

After much consideration, i hv decided to switch my IWDA (SCB) to VT (FSMOne RSP). I'm fully aware of the witholding tax and estate tax issue with US ETF, but the cost saving is quite significant.

As I am investing S$800/mth for IWDA/VT, this is my comparison.

1) SCB forex spread = 0.4%, FSMOne forex spread = 0.25%
2) SCB brokerage fees = $10.7 * 4 (batch 3 mths), FSM brokerage fees = $1.07 * 12
3) IWDA witholding tax = 15%, VT witholding tax = 30%. Assuming dividend at 2% pa, the saving from IWDA is 0.3%. (corrected)
4) IWDA TER = 0.2%, VT TER = 0.09%
5) FSMOne has dividend handling fees of $2.5 per dividend. So its $10 per year of dividend loss.

Based on the above number, I use the spreadsheet created by another forummer, VT annual fees is S$43 (include dividend handling fees) vs IWDA S$96 (didn't include opportunity cost).
However, this comparison only applicable to my case.

can use this as an example

 

[kurtgoh]

I didn't use auto sweep yet haha. Just set up my FSM account - so what I did was to ibank to top up my cash account (through fast transfer).
And then do a FX Conversion from SGD to USD.
So right now I have 2 cash account - 1 in SGD and 1 in USD.

Yeah it did bother me a little - but the alternative is IWDA which is not available in FSM. Right now, I'm doing RSP about 150USD each - so I think any dividend declared would likely be nullified by their dividend charges anyway.

your top up, is not monthly right?

auto sweep, got some interest.
it works like Poems MMF, interest is 1.09 %

 

[kurtgoh]

can use this as an example

thanks Buddy, you are a lifesaver.

Credit to this Mr Brown24 too.

can anyone please share with me how does the expense ratio and management fee works?
simplified version please

 

[5408854088]

thanks Buddy, you are a lifesaver.

Credit to this Mr Brown24 too.

can anyone please share with me how does the expense ratio and management fee works?
simplified version please

its basically how much the the fund manager charge for managing the fund, something like service fee. what you get is already net-off the management fee. usually the lower the better, which means more of your money is going into the actual investment, instead of the fund manager. these days ETFs expense ratio are pretty much comparable already.

 

[Sadisticnoob]

thanks Buddy, you are a lifesaver.

Credit to this Mr Brown24 too.

can anyone please share with me how does the expense ratio and management fee works?
simplified version please

Dependent on Assets under Management (AUM)

Management fee.

Aum at end of day * management fee percentage and divided by number of days.

Will be paid quarterly usually.

TER is just management fee + trust expense + comissions to brokerage divided by AUM.

 

[kurtgoh]

Dependent on Assets under Management (AUM)

Management fee.

Aum at end of day * management fee percentage and divided by number of days.

Will be paid quarterly usually.

TER is just management fee + trust expense + comissions to brokerage divided by AUM.

sorry to ask further,

if the expense ratio is 0.04%
and management fee is 0.06%

how does it work too?

FSM dont display TER, mainly expense ratio and management fee.

we pay these expense ratio and management fee separately??
FSM will send us a bill?

 

[kurtgoh]

anyway i have called FSM to enquire about the expense ratio, etc fee

the prices that we getting on RSP, are already factored with.
hence, no need to worry further.

anyone on:
Fidelity® MSCI Information Technology Index ETF (NYSE.FTEC)

O'Shares Global Internet Giants ETF (NYSE.OGIG)

i have also enroll myself for
Vanguard Total World Stock Index Fund ETF Shares (NYSE.VT)

 

[teckgamer]

your top up, is not monthly right?

auto sweep, got some interest.
it works like Poems MMF, interest is 1.09 %

I think we can't do RSP from auto sweep. And there is some small charges for auto sweep account too. Can't remember the exact charges.
RSP have to be from cash account

 

[kurtgoh]

I think we can't do RSP from auto sweep. And there is some small charges for auto sweep account too. Can't remember the exact charges.
RSP have to be from cash account

Nope, you can't.

So every few months, I had to transfer money to auto sweep.
Then at month end, transfer to cash account.

Next month will be worst, repeat and USD account

 

[teckgamer]

anyway i have called FSM to enquire about the expense ratio, etc fee

the prices that we getting on RSP, are already factored with.
hence, no need to worry further.

anyone on:
Fidelity® MSCI Information Technology Index ETF (NYSE.FTEC)

O'Shares Global Internet Giants ETF (NYSE.OGIG)

i have also enroll myself for
Vanguard Total World Stock Index Fund ETF Shares (NYSE.VT)

Added FTEC into my RSP. Didn't get oshares because its still new and the daily volume traded pretty low. Its Mr wonderful ETF (if you follow shark tank)

 

[5408854088]

Added FTEC into my RSP. Didn't get oshares because its still new and the daily volume traded pretty low. Its Mr wonderful ETF (if you follow shark tank)

O'Shares create their own index and then have their own ETF to track it?

https://oshares.com/why-ogig/

 

[kurtgoh]

Added FTEC into my RSP. Didn't get oshares because its still new and the daily volume traded pretty low. Its Mr wonderful ETF (if you follow shark tank)

so you are vest in Tech ETF too, what else are you on?

i'm currently on ES3, CFA only.
thinking of adding VT, FTEC and maybe a little OGIG..

i actually like the idea of world Tech than just U.S Tech,,

 

[klanddt]

Just to share, I have the following in my balanced portfolio:

A35 Sg bonds
CFA Asia reits
ES3 local markets
SWRD.L intl developed countries

so you are vest in Tech ETF too, what else are you on?

i'm currently on ES3, CFA only.
thinking of adding VT, FTEC and maybe a little OGIG..

i actually like the idea of world Tech than just U.S Tech,,

 

[kurtgoh]

Just to share, I have the following in my balanced portfolio:

A35 Sg bonds
CFA Asia reits
ES3 local markets
SWRD.L intl developed countries

why SWRD.L ?

not much info on it, kinda new.

 

[ceecookie]

Just registered for RSP account with FSM.

My first impression of the money deposit process was headache, they dug in their bank account details so deep it actually caused me a headache playing hide and seek

 

[binary_0011]

hey guys, fsmone buy 10 share or 50,000 shares comm only $10 is it?

 

[iduncheckmail]

hey guys, fsmone buy 10 share or 50,000 shares comm only $10 is it?

Wow, this is good one, i would like to see how someone responds to this.

 

[highsulphur]

hey guys, fsmone buy 10 share or 50,000 shares comm only $10 is it?

Yes if you are silver tier or above (ie holdings of 100k and above). I thought I mentioned a few times here

 

[Sadisticnoob]

Yes if you are silver tier or above (ie holdings of 100k and above). I thought I mentioned a few times here

they are running the 10 bucks promo till july