Hi Bryan, thank you for your question. First of all, the agent bank charges are unfortunately part of the CPF-IS structure. We at Endowus are equally frustrated with the agent bank charges and we wish it wasn't there as it does hinder more effective DCA. But this is a CPF-Investment Scheme issue and whatever you do through CPF-IS you will be liable to be charged the agent fees. UOB has the lowest bank charges of $2 versus the other two banks, just FYI. What we have done is created a globally diversified low cost portfolio with 7 funds. Normally if you try to DIY then you would be charged 7x$2 for each fund. But through Endowus you will only be charged the single $2. So we save you money there. We have also implemented 100% trailer fee rebates. Trailer fees are hidden and lead to misaligned interest and so it should also be removed. Anyway, Endowus is not only already the lowest cost way to invest your CPF, but we are also fighting for fair fees, fighting hard to be more transparent and lower costs every level. One day we want to remove these agent fees! I think the consumers should be complaining as well. We have an exciting line up of launches including the launch of our long awaited mobile app but new exciting services and solutions that are coming in the next 2 months - do follow us on Endowus Insights /Facebook for the latest news!
Hi Bryan, thank you for your question. First of all, the agent bank charges are unfortunately part of the CPF-IS structure. We at Endowus are equally frustrated with the agent bank charges and we wish it wasn't there as it does hinder more effective DCA. But this is a CPF-Investment Scheme issue and whatever you do through CPF-IS you will be liable to be charged the agent fees. UOB has the lowest bank charges of $2 versus the other two banks, just FYI. What we have done is created a globally diversified low cost portfolio with 7 funds. Normally if you try to DIY then you would be charged 7x$2 for each fund. But through Endowus you will only be charged the single $2. So we save you money there. We have also implemented 100% trailer fee rebates. Trailer fees are hidden and lead to misaligned interest and so it should also be removed. Anyway, Endowus is not only already the lowest cost way to invest your CPF, but we are also fighting for fair fees, fighting hard to be more transparent and lower costs every level. One day we want to remove these agent fees! I think the consumers should be complaining as well. We have an exciting line up of launches including the launch of our long awaited mobile app but new exciting services and solutions that are coming in the next 2 months - do follow us on Endowus Insights /Facebook for the latest news!