Roboadvisor: Stashaway vs Smartly Performance

[Syaman]

How is smartly performance now? I was invested until Nov 2019 and if I remember correctly they're vested in XLE which was down a lot yesterday

My portfolio returns are currently at -11.6%

 

[thespell]

My portfolio returns are currently at -11.6%

Not so bad. Do they still own XLE? My StashAway is -13/14% now. Though I topped up my StashAway with the proceeds from my Smartly account.

 

[Grafspee]

F.ck !!!!

Dear Grafpsee,

Thank you for investing with Smartly. We are writing to inform you that we have taken the difficult decision to cease Smartly’s operations in Singapore. As you may know, competition in the digital investment advisory space is intense and maintaining a high service standard on the platform has been challenging. Despite initially contemplating core platform improvements, strategic corporate considerations by our parent company, VinaCapital Group Ltd, ultimately guided our decision.

Smartly is a brand of VCG Partners Pte. Ltd. (“VCG”), which is regulated by the Monetary Authority of Singapore (“MAS”). Accordingly, VCG has notified MAS of its decision to cease Smartly’s operations.

In order to ensure the timely return of your funds, please follow these steps to withdraw your assets:
Login to your Smartly account and select [Transfers] near the top right-hand corner of the screen.
Click on [Withdraw Money] and enter the amount that is available for withdrawal. You will then be prompted to select “Withdraw all” and “Confirm”.
Repeat step 2 above if you have more than one “Goal” (i.e. portfolio).
If this is your first withdrawal, you will be prompted to upload a copy of a recent bank statement, to verify your ownership of the bank account that we have on record. Please note that the funds held in your Smartly account will only be returned to your bank account that we have on record if your ownership of the bank account has been verified. We will not be able to return funds to an unverified bank account.
Afterwards, we are targeting to return related monies to your bank account within 3-6 business days, however, slight delays may occur due to potential high transactions volume.

Please note that if you do not withdraw your assets by 27th April 2020, we will initiate your account closure by the next business day by selling the assets held in your Smartly account. Subsequently, we will return the sale proceeds to your bank account, assuming ownership of your bank account has been verified. Please also note that from 30th June 2020 onwards, you will no longer be able to log in to your Smartly account.

Should you desire to receive digital advice from another service provider, we have reached an agreement with Asia Wealth Platform Pte Ltd (AWP); which has kindly agreed to offer Smartly customers a 50% management fee discount for the first 6 months, up to the first SGD50,000 invested for new customers on its StashAway platform. Please click on this link if you are interested in opening an account to be entitled to this offer, which is valid until the end of April 2020.

Please note in relation to the above special promotion with AWP, VCG is not permitted to give advice on the suitability of any related investment product or market any collective investment scheme as an introducer and AWP is the party giving advice on its Stashaway Platform. VCG may be remunerated by AWP for each referred customer that proceeds to invest on the StashAway Platform. VCG will disclose the amount of the referral remuneration it receives from AWP in respect of your referral if requested by you.

If you have questions about any of the above or another matter(s) relating to your account, please contact us at support@smartly.sg or via telephone at +65 6332 9081 / +65 6332 9084.

Once again, we appreciate the trust you placed in Smartly and wish you continued success as you invest for your future.


Yours sincerely,
Richard Martin, Head of Operations
VCG Partners Pte. Ltd.

 

[2474265]

RIP Smartly

I guess not a surprise, they didn't accept new funds for quite some time...

 

[Asphodeli]

F.ck !!!!

Dear Grafpsee,

Thank you for investing with Smartly. We are writing to inform you that we have taken the difficult decision to cease Smartly’s operations in Singapore. As you may know, competition in the digital investment advisory space is intense and maintaining a high service standard on the platform has been challenging. Despite initially contemplating core platform improvements, strategic corporate considerations by our parent company, VinaCapital Group Ltd, ultimately guided our decision.

Smartly is a brand of VCG Partners Pte. Ltd. (“VCG”), which is regulated by the Monetary Authority of Singapore (“MAS”). Accordingly, VCG has notified MAS of its decision to cease Smartly’s operations.

In order to ensure the timely return of your funds, please follow these steps to withdraw your assets:
Login to your Smartly account and select [Transfers] near the top right-hand corner of the screen.
Click on [Withdraw Money] and enter the amount that is available for withdrawal. You will then be prompted to select “Withdraw all” and “Confirm”.
Repeat step 2 above if you have more than one “Goal” (i.e. portfolio).
If this is your first withdrawal, you will be prompted to upload a copy of a recent bank statement, to verify your ownership of the bank account that we have on record. Please note that the funds held in your Smartly account will only be returned to your bank account that we have on record if your ownership of the bank account has been verified. We will not be able to return funds to an unverified bank account.
Afterwards, we are targeting to return related monies to your bank account within 3-6 business days, however, slight delays may occur due to potential high transactions volume.

Please note that if you do not withdraw your assets by 27th April 2020, we will initiate your account closure by the next business day by selling the assets held in your Smartly account. Subsequently, we will return the sale proceeds to your bank account, assuming ownership of your bank account has been verified. Please also note that from 30th June 2020 onwards, you will no longer be able to log in to your Smartly account.

Should you desire to receive digital advice from another service provider, we have reached an agreement with Asia Wealth Platform Pte Ltd (AWP); which has kindly agreed to offer Smartly customers a 50% management fee discount for the first 6 months, up to the first SGD50,000 invested for new customers on its StashAway platform. Please click on this link if you are interested in opening an account to be entitled to this offer, which is valid until the end of April 2020.

Please note in relation to the above special promotion with AWP, VCG is not permitted to give advice on the suitability of any related investment product or market any collective investment scheme as an introducer and AWP is the party giving advice on its Stashaway Platform. VCG may be remunerated by AWP for each referred customer that proceeds to invest on the StashAway Platform. VCG will disclose the amount of the referral remuneration it receives from AWP in respect of your referral if requested by you.

If you have questions about any of the above or another matter(s) relating to your account, please contact us at support@smartly.sg or via telephone at +65 6332 9081 / +65 6332 9084.

Once again, we appreciate the trust you placed in Smartly and wish you continued success as you invest for your future.


Yours sincerely,
Richard Martin, Head of Operations
VCG Partners Pte. Ltd.

Hey thanks for the update! My email content is different from yours! (No $ inside, so some parts are different)

 

[firewoman]

Are we really forced to sell now? Cos 17% down now during this period

 

[hakunaymatata]

Are we really forced to sell now? Cos 17% down now during this period

Mine is -18%. I'm debating whether to sell now or wait until the deadline of 27 April to see if things pick up..

 

[assiak71]

This thread can cease already since smartly close down

 

[fairylord]

Wow, Stashaway, syfe, Kristal.. Safe?

 

[halocast]

whoa.. smartly close..

wasn't expecting them to close.

 

[hwarzoner]

I sold everything left $5 inside for stashaway

 

[S1mpleGuy]

Wow, Stashaway, syfe, Kristal.. Safe?

worrying. i think better to ownself invest

 

[JetStorm]

Wow, Stashaway, syfe, Kristal.. Safe?

they wont run away with your money if they close if thats what u are asking.

if u are wondering if they are here for the long term, who knows? Bigger players can buy over if so. Grab acquired Bento didnt they?

Anyway this thread can close liao.

Sent from Xiaomi REDMI NOTE 8 PRO using GAGT

 

[2474265]

Wow, Stashaway, syfe, Kristal.. Safe?

I think the way how Smartly closes down proves that it is safe. Everyone gets back their money etc, MAS seems to have the right measures in place.

 

[dappermen]

why terminated? Stashaway seemed better too

Roboadvisors are new in the market and there is little information online to provide us with reliable information on their performance. As such, I have decided to do a mini experiment on the returns of smartly vs stashaway

Experiment Outline
Lump sum investment of $150 to each account to kick start the investment (25th Jan)
Subsequently, to invest $50/mth into both smartly and stashaway portfolios on every 15th of the month beginning 15th Feb 2018

- Smartly Profile : 5/10
- Stashaway Profile 16 (54.5%/45.5%)

Will be updating this thread on the performance on a monthly basis. Stay Tuned

Investment updates (Stashaway vs Smartly) :

1 March 2018 (Total Invested: $200/acc) :$195.76/$196.00
13 March 2018 (Total Invested: $200/acc):$196.43/$195.53
6 April 2018 (Total Invested: $250/acc):$243.84/$242.46
18 April 2018 (Total Invested: $300/acc):$293.67/$293.03
22 April 2018 (Total Invested: $300/acc):$293.20/$293.34
28 May 2018 (Total Invested: $350/acc):$351.67/$351.00

Note: From 29 May 2018, Portfolio changed to StashAway Profile 28, Smartly Profile 10

9 June 2018 (Total Invested: $350/acc):$354.49/$353.14
26 June 2018 (Total Invested: $400/acc):$407.05/$396.29
19 July 2018 (Total Invested: $450/acc):$460.37/$454.75
30 July 2018 (Total Invested: $450/acc):$458.49/$458.28
29 Aug 2018 (Total Invested: $500/acc):$515.63/$512.01

Note: From 29 August 2018, Portfolio changed to StashAway Highest RISK Portfolio, Smartly Profile 10

14 Sep 2018 (Total Invested: $500/acc):$512.68/$509.37
22 Sep 2018 (Total Invested: $550/acc):$563.44/$566.63
08 Oct 2018 (Total Invested: $550/acc):$549.49/$557.14
11 Oct 2018 (Total Invested: $550/acc):$531.56/$542.10
22 Oct 2018 (Total Invested: $600/acc):$578.08/$586.85
30 Oct 2018 (Total Invested: $600/acc):$561.44/$568.42
06 Nov 2018 (Total Invested: $600/acc):$579.62/$588.33
18 Nov 2018 (Total Invested: $650/acc):$629.63/$638.14
27 Nov 2018 (Total Invested: $650/acc):$620.89/$629.91
02 Dec 2018 (Total Invested: $650/acc):$634.54/$639.30
10 Dec 2018 (Total Invested: $650/acc):$614.53/$617.59
20 Dec 2018 (Total Invested: $700/acc):$636.62/$652.76
27 Dec 2018 (Total Invested: $700/acc):$629.77/$633.12
08 Jan 2019 (Total Invested: $700/acc):$634.18/$652.75
11 Jan 2019 (Total Invested: $700/acc):$651.61/$662.79
18 Jan 2019 (Total Invested: $750/acc):$714.71/$719.75
7 Feb 2019 (Total Invested: $750/acc):$746.54/$741.68
13 Feb 2019 (Total Invested: $750/acc):$750.61/$743.82
16 Feb 2019 (Total Invested: $800/acc):$807.27/$800.39
14 Mar 2019 (Total Invested: $800/acc):$815.87/$807.07
21 Mar 2019 (Total Invested: $850/acc):$881.58/$865.69
7 Apr 2019 (Total Invested: $850/acc):$898.76/$876.50
19 Apr 2019 (Total Invested: $900/acc):$949.50/$932.20
25 Apr 2019 (Total Invested: $900/acc):$960.05/$934.76
9 May 2019 (Total Invested: $900/acc):$944.23/$920.46
15 May 2019 (Total Invested: $900/acc):$924.03/$914.23
25 May 2019 (Total Invested: $950/acc):$975.81/$960.29
02 Jun 2019 (Total Invested: $950/acc):$962.02/$938.02
23 Jun 2019 (Total Invested: $1000/acc):$1059.77/$1031.23
27 Jun 2019 (Total Invested: $1000/acc):$1045.70/$1020.43
07 Jul 2019 (Total Invested: $1000/acc):$1076.10/$1041.53
16 Jul 2019 (Total Invested: $1050/acc):$1132.19/$1099.64
25 Jul 2019 (Total Invested: $1050/acc):$1143.17/$1109.52
04 Aug 2019 (Total Invested: $1050/acc):$1117.48/$1092.57
==== Project Terminated ====



Backtesting Portfolio

Backtesting data from 2014-2019.
Initial contribution = $150
Monthly Top up = $50 (Re balanced Yearly)
Portfolio 1 = Stashaway Higher Risk
Portfolio 2 = Smartly (10)
Portfolio 3 = Autowealth (80/20 portfolio)

 

[blurpandasg2014]

why terminated? Stashaway seemed better too

Because smartly performance is no good and now smartly is dead

 

[Fizzical]

Stashaway sells ETFs few days ago which are jumping today.

This robo advisor really.... Dunno what to say...

 

[reddevil0728]

Stashaway sells ETFs few days ago which are jumping today.

This robo advisor really.... Dunno what to say...

Well, always judge on a longer term horizon and not a short term horizon. If you are judging based on a short term horizon and you think you can do better than them, I reckon better to take the money and invest it yourself.

 

[w1rbelw1nd]

I think the way how Smartly closes down proves that it is safe. Everyone gets back their money etc, MAS seems to have the right measures in place.

You seem to get the wrong conclusion from it - Smartly crashed when the market was extremely volatile - could they have gotten their money back and gone into the market without being out of the market a long time, and avoid being sell low buy high?

For platforms that purports to help regular joes invest long term, being run on borrowed time and worse still, having to liquidate when the company wound is a poor experience.

 

[duhduhduh]

Stashaway sells ETFs few days ago which are jumping today.

This robo advisor really.... Dunno what to say...

Ya sian right. now US huat big big lol

I got into Stashaway for the US exposure but they removed every thing!