Robo-advisors Comparison

[hellfire88]

Saw 2 more new robo-advisors being launched recently:
Syfe
SquirrelSave

Anybody trying out?
Syfe seems to have only 0.65% p.a management fee (lowest among other robo-advisors?) while squirrelSave currently have a fitbit versa giveaway promo.

Anyone currently using any other robo-advisors and how's the experience?

 

[assiak71]

Suddenly got a squirrelsave ... performance fee so no go

Im leaning more towards autowealth and endowus at the moment. there is no near-ideal one.

 

[limster]

Suddenly got a squirrelsave ... performance fee so no go

Im leaning more towards autowealth and endowus at the moment. there is no near-ideal one.

With so many roboadvisors, I think it is a near certainty that some will have to close shop because there aren't that many customers to go around. almost reminds me of those bicycle hire firms that all rushed in... or even uber which gave up... Singapore market is not that big to support so many roboadvisors.

the more established ones have a first mover advantage and I wonder how they are going to persuade those on stashaway etc, to switch to them.

squirrelsave - performance fee, nothing on the internet how much funding they received.

syfe - newspapers report they received $5.2m, funding (thats good for how many months' operating costs?)

 

[optimus_prime888]

Squirrelsave founder and CEO is Victor Lye... sounds familiar? Lol

Sent from OnePlus ONEPLUS A3000 using GAGT

 

[tangent314]

If you really want to RSP into a global diversified funds, the lower cost way is still to go with Poems or DollarDex into Lion Global All Seasons (Growth), for a total annual cost of 0.50% (0% platform charge + 0.50% fund TER), which is already cheaper than the platform charges of the roboadvisors before the funds TER.

 

[assiak71]

If you really want to RSP into a global diversified funds, the lower cost way is still to go with Poems or DollarDex into Lion Global All Seasons (Growth), for a total annual cost of 0.50% (0% platform charge + 0.50% fund TER), which is already cheaper than the platform charges of the roboadvisors before the funds TER.

But add up underlying unit trusts' TERs, about same or worse? Any other thread on this?

 

[intime]

Squirrelsave founder and CEO is Victor Lye... sounds familiar? Lol

Sent from OnePlus ONEPLUS A3000 using GAGT

So...is squirrelsave miw-linked? >.<

 

[Mr. Wood]

If you really want to RSP into a global diversified funds, the lower cost way is still to go with Poems or DollarDex into Lion Global All Seasons (Growth), for a total annual cost of 0.50% (0% platform charge + 0.50% fund TER), which is already cheaper than the platform charges of the roboadvisors before the funds TER.

curious how these platforms can survive without platform fees.
they get kick backs frm funds? how to know if advisors are non-bias if they are incentived to sell higher comms funds?

 

[computers70]

If you really want to RSP into a global diversified funds, the lower cost way is still to go with Poems or DollarDex into Lion Global All Seasons (Growth), for a total annual cost of 0.50% (0% platform charge + 0.50% fund TER), which is already cheaper than the platform charges of the roboadvisors before the funds TER.

Returns are not impressive either

 

[tangent314]

But add up underlying unit trusts' TERs, about same or worse? Any other thread on this?

We've had a discussion on this before. The 0.50% includes the TER of all the underlying funds.

curious how these platforms can survive without platform fees.
they get kick backs frm funds? how to know if advisors are non-bias if they are incentived to sell higher comms funds?

Yes the fund managers pay the platforms a tiny portion of the management fees. https://www.dollardex.com/sgn/?current=fees

Returns are not impressive either

The funds invest in ETFs that follow similar indexes, so the returns are going to be similar for the risk profile, with the main differences coming from the funds TER.

Also you need to make sure you are comparing correctly. You cannot compare a 1 year returns from the factsheet against reported returns from 1 year's worth of monthly DCA, especially if you looked at what happened during end December.

 

[blurpandasg2014]

Squirrelsave founder and CEO is Victor Lye... sounds familiar? Lol

Sent from OnePlus ONEPLUS A3000 using GAGT

If it's the Victor lye we know, it's wayang technology

https://squirrelsave.com.sg/team.html

Omg it's really him alright

 

[Mr. Wood]

https://squirrelsave.com.sg/about-us.html

SquirrelSave is powered by PIVOT Fintech Pte. Ltd.

PIVOT Fintech Pte. Ltd. (“PIVOT”) (UEN 201716150D) is a Singapore-based start-up founded by Mr Victor Lye and PINTEC Group of China (“PINTEC”) to bring intelligent investing to anyone, anywhere and anytime in Southeast Asia.

china again.
gament like to use chiur hard earn money to feed those commies

 

[blurpandasg2014]

Jobs for more FTs... Perhaps their server in Tiong land

 

[hellfire88]

If it's the Victor lye we know, it's wayang technology

https://squirrelsave.com.sg/team.html

Omg it's really him alright

oh wow now that you guys mentioned it LOL. MIW ah.

 

[FinalDestiny...]

Stashaway raised $12m - Paywall Link

 

[20018tz]

Robo advisor not my thing

 

[hellfire88]

saw syfe having national day promo on their FB.
Giving out up to $10 incentive for every $1K deposit

https://invest.syfe.com/join-now/

 

[blurpandasg2014]

saw syfe having national day promo on their FB.
Giving out up to $10 incentive for every $1K deposit

https://invest.syfe.com/join-now/

3mths lock in period (~3.35%pa.)
Sounds pretty good for Lowest risk portfolio.

 

[Han Shot First]

With so many roboadvisors, I think it is a near certainty that some will have to close shop because there aren't that many customers to go around. almost reminds me of those bicycle hire firms that all rushed in... or even uber which gave up... Singapore market is not that big to support so many roboadvisors.

the more established ones have a first mover advantage and I wonder how they are going to persuade those on stashaway etc, to switch to them.

squirrelsave - performance fee, nothing on the internet how much funding they received.

syfe - newspapers report they received $5.2m, funding (thats good for how many months' operating costs?)

SquirrelSave has 10% performance fee! Must be a hedge fund manager wannabee rather than a robo-advisor start-up.

Name is also wrong. Are they trying to attract clients / customers who want to save or who want to invest? Should be avoided if SquirrelSave (management) does not even know the difference between saving and investing. Maybe they should try to get a virtual bank license instead.

Management fee of 0.5% per annum is too expensive! U.S. robo-advisors Betterment and Wealthfront both charge an annual fee of 0.25% for digital portfolio management. And the U.S. robo-advisors offer more sophisticated services (e.g. tax loss harvesting) compared to the relatively simple financial advisory services of Singapore robo-advisors.

At least one Singapore-based robo-advisor has already closed shop - CGS-CIMB Securities will be discontinuing eWealth robo advisory on 13 September 2019. They are not accepting any new investments.

 

[assiak71]

If the leading companies in the world like Betterment charge 0.25%, we cannot expect sg based to charge the same, at least for the start. I say 0.50% is reasonable for a start. But how many in sg actually 0.50% or less now...