AutoWealth is a decent option for those seeking a competitively priced robo advisor in Singapore. While it's management fees are not the cheapest, AutoWealth stands out as licensed financial advisor that uses its robo platform to invest in low-cost ETFs.
|Summary of AutoWealth's Robo Advisor Platform|
|MAS Licensed Financial Advisor|
|In-person account opening meetings available|
|Higher than average minimum investment: S$3,000|
Table of Contents
- What Makes AutoWealth Stand Out to Investors
- Investment Opportunities at AutoWealth
- AutoWealth's Investor Eligibility Requirements
What Makes AutoWealth Stand Out to Investors
AutoWealth is not the cheapest robo advisor available in Singapore; however, there are a few reasons individuals might prefer this platform. First, AutoWealth is one of two robo advisors that is an MAS-Licensed Financial Advisors. This may provide a certain peace of mind to some investors. AutoWealth also allows users to meet advisors in-person and assigns each user a wealth manager that can be reached using WhatsApp, both of which makes it a good fit for those seeking a robo advisor with more human interaction. Finally, it is the only MAS-Licensed Financial Advisors robo advisor to invest in ETFs, rather than unit trusts. On average ETFs tend to be less expensive than unit trusts, but unit trusts offer the advantage of active management.
Summary of AutoWealth's Fees
|Platform Fee||$18 p.a.|
AutoWealth's fees are generally competitive, although they are not the lowest among the top robo advisors available in Singapore. The platform charges a set management fee of 0.5% p.a. plus a $15 annual platform fee.
Investment Opportunities at AutoWealth
AutoWealth invests in a wide variety of low-cost ETFs across international markets and across all major industries. The platform highlights its diversified portfolios, which are strategically built in order to give investors a buffer against future financial turmoil. Additionally, AutoWealth recommends its robo investing services for those seeking returns over the medium to long-term, not those seeking short-term or speculative gains.
AutoWealth's Investor Eligibility Requirements
To be eligible to invest with AutoWealth, investors must be at least 18 years old and make an initial investment of at least S$3,000. Investors can begin investing with either Singapore or U.S. dollars.
In order to create an account with AutoWealth, individuals are required to fill out a brief survey. The robo advisor uses this as a chance to understand what gauge each user's investment goals and risk preference. Autowealth then gives users a breakdown of their portfolio, complete with an asset allocation suggestion, projected returns and even a comparison to a famous investor (e.g. Warren Buffet). Next, the robo platform asks the user to state some rebalancing preferences in terms of how they would like to respond to various market events. Finally, registrants can choose to complete their registration online or in-person.