Robo-advisors

[ForTheWind]

Any one's been using them already? E.g Stashaway, smartly, Autowealth

Share your opinion.

 

[limster]

Any one's been using them already? E.g Stashaway, smartly, Autowealth

Share your opinion.

there are so many that start up, but history tells us that after a few years, there will be consolidation and some will shut down. and roboadvisor might not be like a stockbroker where you can easily transfer the shares to another broker.

there is little to be gained from being an 'early adopter' because you don't know which is the one that will shut down. might as well stick to DIY first.

 

[ForTheWind]

there are so many that start up, but history tells us that after a few years, there will be consolidation and some will shut down. and roboadvisor might not be like a stockbroker where you can easily transfer the shares to another broker.

there is little to be gained from being an 'early adopter' because you don't know which is the one that will shut down. might as well stick to DIY first.

Indeed one of my concerns is the stability and reliability of these start ups.
If they shut down, will my portfolio be gone as well? Or would it still be with some banks or trustees etc.

 

[Shiny Things]

Indeed one of my concerns is the stability and reliability of these start ups.
If they shut down, will my portfolio be gone as well? Or would it still be with some banks or trustees etc.

No, if the robo-advisor shuts down, your shares are still going to be there; they'd probably arrange with their custodian for the custodian to take over the accounts and let you transfer the shares somewhere else.

 

[akdwivedi]

are these good. their messaging seems pretty interesting. anyone invested with stashaway.

 

[Shiny Things]

are these good. their messaging seems pretty interesting. anyone invested with stashaway.

Nah. We've looked at Stashaway a few times on here; their heart's in the right place, but their fees are a bit too high and their lineup of funds is a bit weird. They're not quite there yet.

 

[satomoto]

Indeed one of my concerns is the stability and reliability of these start ups.
If they shut down, will my portfolio be gone as well? Or would it still be with some banks or trustees etc.

I've just contacted Stashaway and AutoWealth. Based on what their customer service have explained, both uses custodian services with Saxo. AutoWealth, at least from their explanation, actually have our names as the original owner of the funds with Saxo. While Stashaway only stores the record on a ledger and our Saxo is the custodian for all of StashAway's fund.

If my account is right. If they close down, we might be able to reach out to Saxo for our funds for AW owners but for SA owners, we will also need SA to confirm our ownership. Of course MAS will help if things go sour, if we have faith in the system

Note: I am Malaysian, so any advice on how reputable Saxo is, or how MAS regulates these companies are appreciated

 

[satomoto]

Any one's been using them already? E.g Stashaway, smartly, Autowealth

Share your opinion.

I basically ruled out Smartly because online reviews have not mentioned them as favourably as SA and AW. So my comparison is the latter two.

SA - definitely more suave, looks cutting edge and Web2.0 when you use their website. Price is higher for 30,000 (or around that range) but cheaper if below. They have a referral offer so if you recommend someone your tops 20,000SGD account get no fees for 6 months. Custodian account with Saxo might be an issue as it's written under SA's ownership not the users. More online friendly.

WA - website is slightly old school. Requires a F2F meeting for validation (not a bad thing, but for someone like me that's in Malaysia not a good thing). Price friendlier if you go beyong 30,000 (or around there). Custodian is under our name.

Things I need to find out
1. Funding in USD. If you fund in SGD you lose rate when you fund and withdraw
2. Returns. All of them says they beat mutual fund, but it's not convincing enough since most index funds best mutual funds if the period is long enough.
3. My biggest worry - startups closing shop. I already pledged to P2P startups like FundingSocieties which is already a gamble, and if robo advisory is another startups I am not sure all will survive.

 

[match89]

Anyone has any blogs with real user reviews on the robo-advisors?

I only found this at the moment:
https://sgpassiveinvestor.blogspot.com/2017/09/robo-advisor.html

(new blog with few post only at the moment, will wait for its next update on the performance of its porfolio in autowealth and stashaway)

 

[ForTheWind]

TS has checked couple of things with StashAway team.

Currently they accept SGD only, so you have to put in SGD and use their service to convert to USD, the rates are pretty fine though. (The team is developing USD direct deposit as well, good news for those with some spare USD)

Also, if you know someone form their team you might get a referral code to offset 6 months of fees. (Not confirmed!)


I have decided to keep an eye on them before investing a small sum

 

[turboo]

bookmarked

 

[kyrogue]

have been with AW for ~6months, main reason i used these service instead of DIY is just convenience for me.

 

[lifeislonggamma]

I've just contacted Stashaway and AutoWealth. Based on what their customer service have explained, both uses custodian services with Saxo. AutoWealth, at least from their explanation, actually have our names as the original owner of the funds with Saxo. While Stashaway only stores the record on a ledger and our Saxo is the custodian for all of StashAway's fund.

If my account is right. If they close down, we might be able to reach out to Saxo for our funds for AW owners but for SA owners, we will also need SA to confirm our ownership. Of course MAS will help if things go sour, if we have faith in the system

Note: I am Malaysian, so any advice on how reputable Saxo is, or how MAS regulates these companies are appreciated

Legally, I would feel a lot more comfortable with AutoWealth's custodial arrangements.

 

[alexchia01]

I've just contacted Stashaway and AutoWealth. Based on what their customer service have explained, both uses custodian services with Saxo. AutoWealth, at least from their explanation, actually have our names as the original owner of the funds with Saxo. While Stashaway only stores the record on a ledger and our Saxo is the custodian for all of StashAway's fund.

If my account is right. If they close down, we might be able to reach out to Saxo for our funds for AW owners but for SA owners, we will also need SA to confirm our ownership. Of course MAS will help if things go sour, if we have faith in the system

Note: I am Malaysian, so any advice on how reputable Saxo is, or how MAS regulates these companies are appreciated

Frankly, using Saxo as their custodian?

It's like getting the must unreliable person to hold your money for you.

If they are serious, they get the major banks to be their custodian.

 

[Shiny Things]

Frankly, using Saxo as their custodian?

It's like getting the must unreliable person to hold your money for you.

If they are serious, they get the major banks to be their custodian.

Eh, I dunno - I've worked tangentially with Saxo before, and I was their client a few years back; they're actually a pretty sensible shop. They're not BNY Mellon, but they're also not Crazy Bob's Discount Custodians And Pet Food Inc.

 

[kiddykong]

Any reviews on their fees? In particular, comparison with DCA/RSP with Posbinvest savers or FSMone

 

[occifer]

These companies trade for u? Their returns how?

 

[bedtimestories]

been investing through autowealth since feb after recommended by a friend ) pleased with the returns. simple to use and convenient.

 

[blurpandasg2014]

been investing through autowealth since feb after recommended by a friend ) pleased with the returns. simple to use and convenient.

Care to share the Return?

 

[winguy]

So whats the feedback on autowealth, stashaway, smartly so far?

Stashaway etf selection looks rojak and high cost to me. Prefer a simpler selection