Best Robo Advisors In Singapore 2024 (Comparison & More)

Comparision of Roboadvisors in Singapore and more

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Technology has revolutionised how individuals manage their investments in the finance industry. From Syfe to Stashaway, robo advisors have gained significant traction in Singapore these past few years.

Users no longer have to delve into investment research, navigate the complexities of the stock market, handle extensive paperwork, or personally execute investment transactions.

With just an online sign-up and profile creation, you can let the app take care of everything else, streamlining the investment process for you.

What Are Robo Advisors

A robo advsior provides automated, algorithm-driven financial planning services with minimal human intervention. This means different robo advsiors will have different strategies.

Robo advisors in Singapore offer a diverse range of investment portfolios designed to cater to various investor preferences and risk appetites. These portfolios typically include a mix of asset classes such as stocks, bonds, exchange-traded funds (ETFs), and other securities.

Investors can choose from various portfolio options, including:

  • Conservative portfolios: These portfolios prioritise capital preservation and income generation, making them suitable for investors with a low risk tolerance or shorter investment horizon.

  • Balanced portfolios: Balanced portfolios strike a balance between growth and stability, blending equities and fixed-income securities to achieve moderate returns with controlled risk.

  • Aggressive portfolios: Designed for investors seeking higher returns over the long term, aggressive portfolios allocate a larger portion of assets to equities, which carry higher volatility but also greater growth potential.

Are Robo Advisors In Singapore Worth It

For individuals who are new to investing or lack the time and expertise to actively manage their portfolios, robo advisors are worth a try as they offer an accessible entry point into the world of investing with their user-friendly interfaces and automated investment strategies.

Busy professionals may also find it useful to delegate portfolio management tasks to these robo advisors while focusing on their core priorities.

However, if you have a deep understanding of financial markets and enjoy actively managing your spare cash, you may find the offerings of robo advisors too restrictive or impersonal. In such cases, the additional fees associated with robo advisors may not justify the benefits, as you may prefer the control and customisation afforded by self-directed investment platforms.

Similarly, investors with complex financial situations, such as those with significant assets or specialised investment needs, may find that robo advisors lack the nuanced guidance and tailored solutions offered by human financial advisors or wealth management firms.

Are Robo Advisors In Singapore Safe

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Generally, robo advisors adhere to diversified investment strategies and asset allocation models designed to mitigate risk and optimise returns based on investors’ risk profiles and financial goals.

The robo advisors offered in Singapore are pretty safe as they operate under stringent regulatory frameworks enforced by the Monetary Authority of Singapore, such as the Securities and Futures Act (SFA) and/or the Financial Advisers Act (FAA), depending on their business model.

Considerations For Robo Advisors In Singapore

While robo advisors in Singapore are generally safe, that doesn’t mean that they aren’t subjected to the different risks outlined below.

1. Closure of robo advisors in Singapore

Margins in this industry can be tight, given the competitive landscape and the need to offer low-cost services to clients. Factors such as high operational costs, regulatory changes, and market volatility can further strain the sustainability of robo-advisory firms.

As a result, some robo advisory firms may struggle to maintain profitability over the long term, just like Smartly and MoneyOwl.

2. Low barriers to enter the indusry

Moreover, robo advisors can also pass their clients’ orders to brokerages without the additional capital markets services license under the SFA. This means it’s fairly easy for them to operate regardless of their performance history, so users ought to be prudent in choosing their robo advisor carefully.

Money invested in robo advisors aren’t safeguarded by the Singapore Deposit Insurance Corporation (SDIC) either, unlike traditional bank deposits which enjoy SDIC protection up to S$75,000.

3.The illusion that no human intervention is needed

Lastly, the notion that technology, such as algorithms used in robo advisors, is inherently superior to human decision-making can lead to a misunderstanding of the investment process.

While algorithms can analyse vast amounts of data and execute investment strategies efficiently, they may lack the nuanced judgment and intuition that humans possess.

This means that robo advisor users ought to view the platform as a tool rather than a replacement for human judgment. They should still frequently monitor their investments, instead of solely relying solely on algorithms without any human oversight.

Comparison Between Robo Advisors In Singapore

Here’s a comparison amongst the different robo advisors in Singapore.

Robo Advisor In SingaporeMinimum Investment NeededAnnual FeesTypes Of Portfolios
AutoWealthS$00.5% + US$18 /nFor AutoWealth Plus: 8% performance fees on profitAutoWealth Starter: Globally diversified portfolios containing more than 8,000 stocks and 600 governments bonds. /n/n AutoWeath Plus+: 100% equity-based thematic portfolios with strong historical performance.
DBS digiPortfolioS$1000.25% to 0.75%Global Portfolio: Choose from three risk levels and comprises mainly globally diversified UK-listed ETFs. /n Asia Portfolio: Choose from three risk levels and comprises Singapore-listed ETFs that invest across Asia. /n Income Portfolio: Consists primarily of REITs, Asian equities and bonds. /n SaveUp Portfolio: Invests in fixed income only.
Endowus (using cash)S$1,0000.25% to 0.60%Flagship: Choose from six risk levels and consists of diversified, best-in-class and low-cost funds. /n/n ESG: Choose from six risk levels and consists of green and socially responsible funds from top ESG fund managers. /n/n Factor: Choose from six risk levels and consists of globally diversified portfolios that utilise scientifically proven factors of expected returns to target better long-term performance.
Kristal.AIS$0No management fee for the first US$10,000 /n 0.3% after US$10,000Construct your own portfolio out of individual ETFs, with over 100 options available.
OCBC RoboInvestUS$1000.88%Choose from 37 focused themes and diversified portfolios in three risk levels.
Phillip SMART PortfolioS$3000.5% to 0.8%SMART Portfolio (General Investing): Choose from three different risk levels, with the portfolio underlying asset being unit trusts. /n Smart Portfolio US Equity: Choose from three different risk levels, with the portfolio underlying asset being equity stocks.
SaxoWealthCareS$25,0000.45% to 0.75%Global Growth: Follows the trajectory and direction of global markets. /n/n Asian Growth: Focuses on Asian ETFs, equities and bonds. /n/n Sustainable Growth: Focuses on sustainability.
StashawayS$00.2% to 0.8%General Investing Powered by BlackRock: Get broad market exposure with a diversified portfolio, with insights from one of the world’s largest asset managers. /n/n Responsible investing with ESG: Optimise for both long-term returns and ESG impact. /n/n Flexible portfolio: Customise your own portfolios by picking your assets and adjusting their allocations. /n/n Thematic portfolio: Invest in major trends that you believe will shape the future.
SqSaveS$00.5% + 10% of any positive returnSelects from over 2,000 ETFs across several asset classes listed on US stock exchanges
SyfeS$00.25% to 0.65%Core portfolios: Choose from Core Equity100, Core Growth, Core Balanced, and Core Defensive. /n Satellite portfolios: Choose REIT+ portfolio which consists of 100% REITs or REITS with Risk Management. /n Themes: Choose from China Growth, Disruptive Technology, ESG & Clean Energy, and Healthcare Innovation. /n Income portfolio: Choose between Income+ Preserve and Income+ Enhance. /n Custom portfolio: Construct your own portfolio.
UOB Kay Hian’s UTRADE RoboS$5,0000.5% to 0.88%Allocates assets according to your goals, investment horizon and risk tolerance across 11,000 stocks and bonds.

Performance of Roboadvisors

While past performance is often highlighted as a crucial metric for Roboadvisors, it’s essential to remember that it doesn’t guarantee future results. A more reliable method for evaluating performance might be to consider the experiences of current users, given that performance charts on roboadvisor websites can vary in their start dates and often rely on backdated data (simulating “what-if” scenarios rather than actual performance).

If you’re keen to understand the performance of Roboadvisors in Singapore more accurately, we recommend exploring the comprehensive review by Investment Moat and the insightful video by Kelvin Learns Investing.

Not sure which robo advisor to choose in Singapore?

If you’re starting out with a small capital, consider the following with low or no minimum investment amount needed:

  • AutoWealth (S$0)

  • DBS digiPortfolio (S$100)

  • Kristal.AI (S$0)

  • OCBC Roboinvest (US$100)

  • Phillip SMART Portfolio (S$300)

  • SqSave (S$0)

  • Syfe (S$0)

If you’re looking for a peace of mind and to have all your monies parked under one platform, go for a robo advisor run by the banks in Singapore:

  • DBS digiPortfolio

  • OCBC Roboinest

  • UOB Kay Hian’s UTRADE Robo

Assuming you have S$10,000 to invest and you’re looking for the lowest fees, here are some options to consider:

  • DBS digiPortfolio (0.25% if you invest in the SaveUp portfolio)

  • Kristal.AI (no management fees for the first US$10,000 and 0.3% thereafter)

  • Stashaway (0.3% if you invest in the Single ETF Flexible Portfolio)

It’s easy to get caught up in trying to find the best robo advisor in Singapore. However, while doing your research is great, the most important thing to do is to choose one that fits your needs and begin investing.

After all, the secret to getting ahead is getting started!

Feeling overwhelmed?

Begin your investment adventure with us! We get that diving into investments can seem daunting and, frankly, a bit dull.Not everyone’s keen on handling their own investments. If you’re inclined to delegate your investment management, i.e., have someone take care of it for you, we’re here to chat! Find out more here