Roboadvisor: Stashaway vs Syfe

[Peasantboy]

Thanks! I guess have to do it SAF-style, instruct your other half to withdraw the funds from SA should anything untoward happen.

Not sure if SA has some procedure to check if you’re still alive ha

No it's still a problem. Neither syfe nor stashaway want to make a committed statement. Haha this blogger called them out


https://kpo-and-czm.blogspot.com/20...-not-addressed-by-some-robo-advisors.html?m=1

 

[Han Shot First]

Interesting post on the 40% estate tax for sums above $60,000. I am also puzzled as to why StashAway and Syfe are evasive on this.
*

Do you think the US IRS (Internal Revenue Service) is stupid? Do you believe StashAway, AutoWealth and/or Syfe are smarter than the US IRS?

They are evasive because they know that you (the client) do not own the US ETFs.

Read StashAway's answer to the FAQ question: Am I subject to Estate Tax?
"If you invest in US assets directly as an individual, the estate tax regulation applies. For our clients, the ownership is indirect as StashAways' legal entity (Asia Wealth Platform Pte Ltd) is the one that holds the assets and fractionalize them for our clients. Because of this structure, our clients should not be subject to this estate and gift tax.

With that said, unfortunately, we do not and are not able to provide tax, legal or accounting advice.

*This is for informational purposes only. It is not intended to be tax, legal or accounting advice and should not be relied upon as such. We recommend that you consult your tax, legal and accounting advisors before engaging in any transaction.""

If that answer is true, StashAway's clients have a bigger problem than the 40% estate tax. It means that Asia Wealth Platform Pte Ltd is the beneficial owner of the clients' US ETF shares. All of it. StashAway clients do not have ownership. I think it is similar to unsecured credit when StashAway clients transfer monies to StashAway. StashAway can do anything with the monies and has actually invested the monies in US ETFs for the sole beneficial ownership of its legal entity.

 

[Opps-gal]

Withholding tax 30%. Plus other tax and fee? So many to pay, worth investing?

 

[JetStorm]

Do you think the US IRS (Internal Revenue Service) is stupid? Do you believe StashAway, AutoWealth and/or Syfe are smarter than the US IRS?

They are evasive because they know that you (the client) do not own the US ETFs.

Read StashAway's answer to the FAQ question: Am I subject to Estate Tax?
"If you invest in US assets directly as an individual, the estate tax regulation applies. For our clients, the ownership is indirect as StashAways' legal entity (Asia Wealth Platform Pte Ltd) is the one that holds the assets and fractionalize them for our clients. Because of this structure, our clients should not be subject to this estate and gift tax.

With that said, unfortunately, we do not and are not able to provide tax, legal or accounting advice.

*This is for informational purposes only. It is not intended to be tax, legal or accounting advice and should not be relied upon as such. We recommend that you consult your tax, legal and accounting advisors before engaging in any transaction.""

If that answer is true, StashAway's clients have a bigger problem than the 40% estate tax. It means that Asia Wealth Platform Pte Ltd is the beneficial owner of the clients' US ETF shares. All of it. StashAway clients do not have ownership. I think it is similar to unsecured credit when StashAway clients transfer monies to StashAway. StashAway can do anything with the monies and has actually invested the monies in US ETFs for the sole beneficial ownership of its legal entity.

means stashaway is one big omnibus account.

Sent from Xiaomi REDMI NOTE 8 PRO using GAGT

 

[Peasantboy]

Can anyone advise, for unit trusts (UT) say investing in US ETFs/securities, would a retail investor also be subject to the estate tax?

The same principles should apply right?

Do you think the US IRS (Internal Revenue Service) is stupid? Do you believe StashAway, AutoWealth and/or Syfe are smarter than the US IRS?

They are evasive because they know that you (the client) do not own the US ETFs.

Read StashAway's answer to the FAQ question: Am I subject to Estate Tax?
"If you invest in US assets directly as an individual, the estate tax regulation applies. For our clients, the ownership is indirect as StashAways' legal entity (Asia Wealth Platform Pte Ltd) is the one that holds the assets and fractionalize them for our clients. Because of this structure, our clients should not be subject to this estate and gift tax.

With that said, unfortunately, we do not and are not able to provide tax, legal or accounting advice.

*This is for informational purposes only. It is not intended to be tax, legal or accounting advice and should not be relied upon as such. We recommend that you consult your tax, legal and accounting advisors before engaging in any transaction.""

If that answer is true, StashAway's clients have a bigger problem than the 40% estate tax. It means that Asia Wealth Platform Pte Ltd is the beneficial owner of the clients' US ETF shares. All of it. StashAway clients do not have ownership. I think it is similar to unsecured credit when StashAway clients transfer monies to StashAway. StashAway can do anything with the monies and has actually invested the monies in US ETFs for the sole beneficial ownership of its legal entity.

 

[undergrd]

Anyone into Syfe 100% Equity portfolio? How's the performance so far?

 

[Time-to-retire]

Anyone into Syfe 100% Equity portfolio? How's the performance so far?

Generally uptrend albeit slowly. The two QQQ and CSPX are driving the uptrend. The other 8 are moving up and down thus providing good opportunities for buying in. Watch the AUM fees. Need to think long term DCA. Otherwise go buy the individual ETFs separately. Stay invested.

 

[anthonygreenisreal]

I have both 100 REITS and Equity100. Equity100 is doing well because of QQQ and the US market. Pure REITs never move much. Started both at the same time around mid July.

The AUM feed is reasonable to me because of the active management which protects against the downside. For individual ETF, you are pretty much on your own and usually have to pay transaction fees when DCA top up unless there is RSP.

 

[smoothtalker]

anyone notice syfe changed their benchmark from Morningstar to S&P Target Risk?

 

[undergrd]

Where to see this?

anyone notice syfe changed their benchmark from Morningstar to S&P Target Risk?

 

[blurpandasg2014]

I will be starting a new thread soon on syfe and stashaway. Just did some major changes to my investment strategy

 

[undergrd]

Nice... welcome back

I will be starting a new thread soon on syfe and stashaway. Just did some major changes to my investment strategy

 

[Stallone]

I see syfe having gold in the portfolio now. Previously was "commodities"

 

[smoothtalker]

I see syfe having gold in the portfolio now. Previously was "commodities"

tbh i feel a bit worried investing with Syfe.. I don't think any of the CIO team members has background in derivatives or cross assets investment in a high finance S&T arm. Didn't see any economist by training too.. then their goalpost also keep changing.. benchmark changed from Morningstar etc

While they have relevant industry experience but they pale in comparison to Stashaway.. Some more the current CIO is like not young already? what's their succession plan i wonder. Now the funny thing is.. i have more aum in Syfe than Stashaway. what do you guys think?

 

[s0crates]

Why do you think they need experience in sales and trading ? Arent they an advisory platform? Advisor don't need trading experience right?

tbh i feel a bit worried investing with Syfe.. I don't think any of the CIO team members has background in derivatives or cross assets investment in a high finance S&T arm. Didn't see any economist by training too.. then their goalpost also keep changing.. benchmark changed from Morningstar etc

While they have relevant industry experience but they pale in comparison to Stashaway.. Some more the current CIO is like not young already? what's their succession plan i wonder. Now the funny thing is.. i have more aum in Syfe than Stashaway. what do you guys think?

 

[smoothtalker]

Why do you think they need experience in sales and trading ? Arent they an advisory platform? Advisor don't need trading experience right?

have you opened an account? cause Syfe holds a CMS licence in fund management and they construct their own discretionary portfolio..? if they don't have the relevant skill sets how to trust them.. as portfolio managers in asia are traditionally more specialized in equities and lesser in fx, derivative or cross-asset investing. I am not sure if you are aware that markets don't move simply because of investors buying and selling? there are stop loss hunters and option dealers wielding great powers..

I don't work in S&T or high finance btw.

 

[Mr. Wood]

syfe got richard yeh
according to syfe website he

was also a former Senior Director of Lion Global Investors and prior to that, CEO of UOB Venture Management. Richard is also a founding member of SIMEX, Singapore’s Derivative Exchange.

anyway i invested in both becoz they are addressing long standing problems retail investors are underserved and over paying for advise. i wish them success so dat we normal low ses ppl can oso benefit.

fk those greedy bankers and insurance agents.

 

[smoothtalker]

syfe got richard yeh
according to syfe website he

anyway i invested in both becoz they are addressing long standing problems retail investors are underserved and over paying for advise. i wish them success so dat we normal low ses ppl can oso benefit.

fk those greedy bankers and insurance agents.

Indeed. I looked up their LinkedIn profiles previously and he was some adjunct professor. But that’s about it.. unable to see trainings or direct experience. I could be wrong too. Anyway. If you look up Stashaway on LinkedIn you can see some of their staff from Ivy Leagues or with directly relevant industry experience.. a diverse team with breadth and depth.

Having said that.. my aum is still higher with Syfe. But thinking of consolidating into one account..

 

[s0crates]

Very subjective on whether stashaway is more experienced. Michele from stashaway openly said he never invested before in the straits times interview until he started stashaway.

A CMS license means that they are more like Fund managers and brokers than advisors. This means that they are more like Vanguard, Schroders, Aberdeen, UOB Kayhian than a typical FA.

They have created new products (Syfe REIT+), generate alpha, while making sure that your fractionalised assets are dynamically custodised accurately in their system. It's a hell lot more specialised and difficult than people give it credit for. Without the right brokerage/ custodian middle management I don't think it's easy to do the job.

Indeed. I looked up their LinkedIn profiles previously and he was some adjunct professor. But that’s about it.. unable to see trainings or direct experience. I could be wrong too. Anyway. If you look up Stashaway on LinkedIn you can see some of their staff from Ivy Leagues or with directly relevant industry experience.. a diverse team with breadth and depth.

Having said that.. my aum is still higher with Syfe. But thinking of consolidating into one account..

 

[ahboy_ahboy]

I just registered Stashaway. Dump $200 to Simple and $200 to general investment at 18% risk to try try.

Better than go buy 4D