Can all the roboadvisors describe your ideal customer? - Seedly

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Asked by Chen Zhirong

Asked on 07 May 2019

Can all the roboadvisors describe your ideal customer?


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Chuin Ting Weber
Chuin Ting Weber
Level 5. Genius
Updated on 07 Jun 2019

HI Zhirong, I didn't have a chance to answer your question at the live question session yesterday night, partly because it gave me pause and actually a little moved -- that you would ask us robo/bionic advisers, coming to market a relatively new business model, about our ideal customer; when surely it is our job to ask you, what you wish to see in your advisor and how we can journey with you in a way that really adds value to your life. For MoneyOwl, our purpose is really getting advice right for the ordinary man in the street so that every family can have a plan for sufficiency in retirement, adequant protection against the things that can destroy this plan, from a holistic viewpoint, and enough buffers for peace of mind and give the stretch to that hard-earned dollar. For some customers, this would mean investing in a way that has little guesswork. For others, it could mean just sorting out or saving through CPF without having to buy any products or even invest with us. Yet for others who need it, just budgeting advice and saving into instruments like the Singapore Savings Bond. Perhaps our perspective is a little different because we are not just doing investing, but comprehensive advice.


Chen Zhirong
Chen Zhirong

on 08 May 2019

Thank you for taking the time to reply to both my questions! Without a doubt, the answers you gave here as well as on the panel has helped made it clear what profile/direction suits us best. Although Starbucks, Ya Kun and Coffee Bean all offer coffee for various "types" of people, the philosophy behind each of them is what ensures loyalty. And I think that's what concerns us when we are looking to invest with someone for the long term. And I use the term "Someone" intentionally because despite this being a roboadvisor service, it is the human touch that differentiates all the services. I can definitely see that unlike the other roboadvisories, you guys have plans to expand not to other markets, but to cover us more comprehensively. Besides insurance and investment though, i'm not sure what other areas you plan to cover. I like your emphasis on sufficiency although initially I thought Samuel from EndowUs was from MoneyOwl because he was more vocal on low-cost funds and benefitting the layperson. Hope to hear more from you at the MoneyOwl Symposium!
Chuin Ting Weber
Chuin Ting Weber

Updated on 08 May 2019

Dear Zhirong, it is a pleasure to answer your questions and it is we at MoneyOwl who are grateful for your encouragement! Wow. Makes my heart full just knowing that you understand where we are coming from. LOL regarding Sam - he and I can talk for hours and indeed I believe Sam also shares much of the purpose that we at MoneyOwl have described. Thank you also for signing up for MoneyOwl's Investment Symposium on 25th of May. We are still planning the agenda, but maybe we can introduce the "other areas" which really are about comprehensive planning that integrates CPF into retirement planning beyond just as a source of funds and rudimentary assumptions. And hearing from Dr Chen Peng, CEO of Dimensional Asia ex Japan, and from Christopher Tan our ED, will be such a treat. Thank you again, sincerely, for your support and see you end of the month!