What first made YOU decide to try it?
If you are not using one, what’s stopping you from doing so?
How does it compare to alternative ways of investing such as with a financial advisor/consultant or DIY?
Share with me your thoughts, concerns and experience.
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G
16 Jul 2021
Senior at Accounting firm
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A number of people commented that robos are inflexible. This is generally true. But Endowus has more flexibility.
Select Endowus's "Fund Smart" and you'll be able to customize your own portfolio. You can for example, choose a bunch of funds focused on AI, choose ESG funds, choose funds focused on Asia, etc...
Azrael has even written on how you can use Endowus to build your own Bogleheads investment portfolio. https://az-ra-el.blogspot.com/2020/11/building-...
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I think the pro of using roboadvisor is low fees, for lazy people like me or no time to invest and the cons of using roboadvisor there is no human touch and no DIY and is fixed portfolio. I like roboadvisor very much because of the low fees.
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Using Syfe, due to one of lowest Management fee. Overall seem promising, invested for two months and returns been positive.
I'm in my late 20s, my motto is it's my money and I should be responsible with it and I prefer to do it myself. Knowing what you invest does give me confident in what I do.
After half a month of studying, slowly stock pick myself using Tiger Brokers and continue my Syfe via dollar cost averaging every month.
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Pros & Cons are summed up pretty well by YJ & Chris.
Eager to get started but...
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For me it was simply the knowledge that I cannot just rely on my salary to grow personal wealth. However, despite this, my working hours / work commitments do not allow me to actively monitor the markets / my portfolio without being distracted from work. For this reason I decided to try roboadvisors with my spare cash. It's better than just leaving it in the bank and losing the value every year to inflation.
I read an article as well from TWS that increasingly we see ppl wanting to make a windfall by jumping on the bandwagon an all but they lose sight of their main craft and this resonates with me. At this season in my career/life, my focus should be on improving my skills at my workplace to build credibility and leave investing to the pros at these robo-advisory firms (i.e. stashaway / syfe / endowus)
At some point, I hope to be able to take more ownership of my own investments and learn the ropes but I don't think now is the season and I don't have the bandwidth either. But for sure, if you have the bandwidth, why not pick it up.