What are robo-advisors and how do they work? How is it different from the traditional way to invest? Would I need a CDP as well? Many people seem to be advising robo-advisors but why?

Hey Anon!

People usually recommend robo-advisors for beginners as they are the easiest investment methods to provide beginners with low cost, diversified and passive investing. They are also perfect for time-starved working adults who are looking to grow their money passively.

Here's a simple comparison among some of the popular choices in the Seedly Community. Besides just choosing the robo-advisor with the lowest fees, you should be looking out mainly for the following. It is also important to invest according to your risk appetite, and understand any hidden fees involved, particularly if you’re opting to invest in global ETFs.

I've put together a compilation of the top Robo-Advisor picks from our community recently. Itincludes a simple summary and all the links to their review pages, as well as SeedlySpotlight, where the stakeholders come in to talk more about their company. You can check it out here!​​​

Many people recommend Robo-Advisors as it’s for those who are new to investing and not sure how or what stocks to buy, or they don’t have much time to invest. It’s a passive investing.

These are some articles you can read up about robo.

https://dollarsandsense.sg/robo-advisors-in-sin...

https://blog.seedly.sg/singapore-robo-advisor-i...