Hi, has anyone tried the UOB robo-advisor yet? What are your thoughts?

Decent returns of about ~9% on the "Aggressive" portfolio since Nov 20 and DCA monthly.

Currently UOBAM running a promo $50 for new signups (Dec 2021)

Criteria:

• Top up minimum $500 - receive $50

Use link below to sign up: https://uobaminvest.page.link/Ex4u on your mobile phone!

I tried it out for when it first launched with the free $20 that they gave me. I chose the "Very Aggressive" portfolio which basically invest into 90%+ equities and the rest into bonds.

What I didn't like about UOBAM Invest is that the fees are still pretty high and it doesnt justify why retail investors should just do it themselves instead. In fact, I did a backtest and the returns were actually lagging S&P500 over the past 365 days. So in the end i took out the free $20 and put it into Singlife instead.

I would say, Syfe and Stashaway are overall better than this offering. Whilst a good attempt by UOB to penetrate into the Robo Market, as of right now i think the allure still lies in Robos such as Syfe and Stashaway.

I created a UOB robo account previously and check out the different portfolios. The allocations can be seen in the app itself. Also, Robo advisor usually don’t invest in stocks, they invest ETFs only.

I don’t find the UOBAM robo advisor special at all. Some of their portfolio invests in high yield Bonds aka junk bonds(higher chance of default). Next, some of their portfolio invest in US REITs. REITs must pay of at least 90% of their earnings as dividends. There is a 30% withholding tax on dividend for singapore investors so US REITs isnt suitable for Singapore residence . I’m pretty sure most Singaporeans avoid US reits 100% too.

Additionally, the highest risk portfolio invest in 2 US ETFs only. I don’t see the point of paying UOBAM recurring fees on top of the ETF management fees just for that. Remember robo advisor fees usually don’t include ETF management fees at all, so there’s 2 layer of fees which most people don’t know

One thing I like about UOB robo is the user interface.

(These are just my thoughts and views NOT financial advice)

Not the cheapest out there.

the app is slow, almost every action requires few seconds, and yes i am using new phone and wifi.