Hi Caleb, thanks for your questions. This is Chris, CEO Providend and Executive Director of MoneyOwl
As our investment philosophy is one where we do not believe in market timing and also we believe in the use of low cost instruments, we will only bring in funds who meet these criteria. Unfortunately, there aren't many of such funds in Singapore as most financial advisers in Singapore do not want to "sell" these funds as they cannot get a trailer commission from them. As such, not many fund managers want to bring their low cost funds into Singapore as there is no demand from the advisory industry. But we will continue to be on the lookout for such funds and will do our best to persuade them to bring these funds in for Singaporeans. With regard to tiered-pricing, we hv not yet arrive at a decision. This is because we have conceived our services as a mass market service and it is this group of Singaporeans whom we really want to help. Also, our margins are already very thin. As much as we want to be cost efficient for our clients, we also need to price it at a level that is sustainable for us so that we can journey with clients for the long term. Having said that, we are not closed to the idea of tiered-pricing but the investment amount has to be a significant quantum before we can do so.
For SRS, while the funds from Dimensional are already SRS approved, we are working hard with our platform (iFAST Financial) to bring it to our clients. We are looking at Q4 but hopefully earlier. We will definitely keep you and our followers on FB informed once we have it.
Hope this clarifies!
Hi Caleb, thanks for your questions. This is Chris, CEO Providend and Executive Director of MoneyOwl
As our investment philosophy is one where we do not believe in market timing and also we believe in the use of low cost instruments, we will only bring in funds who meet these criteria. Unfortunately, there aren't many of such funds in Singapore as most financial advisers in Singapore do not want to "sell" these funds as they cannot get a trailer commission from them. As such, not many fund managers want to bring their low cost funds into Singapore as there is no demand from the advisory industry. But we will continue to be on the lookout for such funds and will do our best to persuade them to bring these funds in for Singaporeans. With regard to tiered-pricing, we hv not yet arrive at a decision. This is because we have conceived our services as a mass market service and it is this group of Singaporeans whom we really want to help. Also, our margins are already very thin. As much as we want to be cost efficient for our clients, we also need to price it at a level that is sustainable for us so that we can journey with clients for the long term. Having said that, we are not closed to the idea of tiered-pricing but the investment amount has to be a significant quantum before we can do so.
For SRS, while the funds from Dimensional are already SRS approved, we are working hard with our platform (iFAST Financial) to bring it to our clients. We are looking at Q4 but hopefully earlier. We will definitely keep you and our followers on FB informed once we have it.
Hope this clarifies!