What is the difference between the custodian account for Stashaway and Autowealth?

Hi there,

This is a great question!

We have a Capital Markets Services License for Retail Fund Manageemnt from the MAS. We decided to get a license with a stricter capital, team experience, compliance and audit requirements (vs a Financial Advisor one) as we felt that it was important to build StashAway on solid foundation that can provide the necessary peace of mind to our customers. You can read about our license on MAS website here.

Autowealth does so through SAXO, and you can check SAXO’s license on MAS website here, so that you can drive your own conclusions: both StashAway and SAXO have CMS license for Fund Management and Dealing in Capital Markets Products. As we have a CMS license, like Saxo, we're able to do the segregation ourselves.

However, unlike SAXO, StashAway does not have a custodial license, and that’s why our customers’ assets are protected by the custodian relationship with SAXO and their sub-custodian institutions (HSBC for cash and SG securities and Citibank for US securities), such that those funds are kept separate and un-mingled with StashAway’s finances.

If you have any further questions, feel free to reach out to us at [email protected] and we'd be happy to clarify further the points I've mentioned above.

Hi Anon,

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