What are the differences between buying unit trusts with brokerages and with banks? I am concerned about safety of the assets and monies? How safe is compared with POEMS and FSMone?

Hi David,

I won't talk about whether UTs are the right investment vehicle for you here, but let's say if you were looking at a UT that is distributed by both banks and brokerages, then you'll want to go with a platform that has low fees as possibl

In that vein, POEMS and Navigator are zero fee platforms. (FSM has platform fees).

If you are talking about safety of brokerage firms, under sections 16, 17, 26 and 27 of the Securities and Futures (Licensing and Conduct of Business) [https://sso.agc.gov.sg/SL/SFA2001-RG10], the gist of it is that the brokerage firm must keep customer assets in a trust account separate from the firm's own assets. These assets will be excluded from claims from creditors. That's the protection that is available for investors. So invest with a MAS regulated brokerage.​​​

Yes, the bank fees are often higher than those of the online brokers, that tend ever more towards zero.

but generally consider well:

Unit trusts have mostly too expensive fees

ETFs are the solution.​​​