Thanks for your question!
I think the main difference between MoneyOwl and not just Endowus, but roboadvisers in general, is who we are. MoneyOwl is not really a "pure start-up", funded by VCs or founder money. Not to say that this is bad in itself. But for us, this is not how we started as we are a JV between NTUC Enterprise - with 5 decades of serving working families and Providend - a best-in-class comprehensive and homegrown adviser with a history of ethical advice and a pioneer in the fee-for-service model. MoneyOwl was built on this heritage and continues to bring this to Singapore, to which we are fully committed. This also means building our business in a way that is sustainable and ethical. We do not just want to compete on price to be the cheapest - though we are among the lowest cost - but focus on the value we bring.
Secondly, in a sense, MoneyOwl isn't really a roboadviser - rather, we are a comprehensive adviser that happens to have an investment robo platform. Actually we have 4 platforms: insurance, investments, will-writing and comprehensive planning that integratest CPF. We are big on CPF because we think that this is the best retirement planning tool for many Singaporeans and we have to integrate it into retirement plans.
Thirdly, MoneyOwl is Singapore's first bionic adviser. We bring human wisdom and technology together. This is not about client service or even about fund management hubris. It is about human advisers - and we have a full team all in the AWP/CFP programme- augmented by technology because being a social enterprise, it is all about people; and humans are the ones who understand humans the best.
Fourthly, if you look at investment philosophy, there are some meaningful differences. MoneyOwl is big on "market-based" investing and Dimensional funds express this view. We believe in the wisdom of markets and market information, and the futility for both equities and bonds, not just equities. There is a question in this AMA about bonds where I expanded on this. That belief is also why currently, we only have Dimensional because Dimensional is the only fund house that fulfils the criteria of having a bond fund that is global and non-forecasting and which is hedged to SGD. On the actual Dimensional funds used, there are differences as MoneyOwl selected a combination of funds that have the lower Total Expense Ratio and yet give the broad diversified exposure. While we do not compete on lowest fees, there are fee differences as well, and you can see from the way we set out our pricing that MoneyOwl is really serving small investors and ordinary families, not chasing the affluent or HNW markets.
Hope this helps.
As Chiun Ting pointed out, Moneyowl offers a range of services, while at Endowus we are a digital wealth platforms that focus on investment solutions.
In that sense, we want to develop depth in our investment offering, which is why we work with many different fund managers (beyond Dimensional, we work with PIMCO, Lion Global, Vanguard etc) to bring access to best in class funds to our clients. We are fund manager agnostic.
We are the first and only digital platform that offers CPF, SRS and Cash investments on one interface so you can manage your wealth and risk holistically with us, Hope this shed somemore light on our differences!
Ive tried both... to me, the main difference is that endowus will not reply to all your emails. But ...
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