facebookIs it ok to invest using multiple robo-advisors or better to stick to maybe just 1 (or max 2) ? I am a new investor and have currently invested into 3 robo-advisors. What are your thoughts? - Seedly
Seedly logo
Seedly logo
 

Advertisement

Anonymous

Posted on 08 Jul 2020

Is it ok to invest using multiple robo-advisors or better to stick to maybe just 1 (or max 2) ? I am a new investor and have currently invested into 3 robo-advisors. What are your thoughts?

0 comments

1 answer

Discussion (1)

Noted that the fee structure of robo advisors is by assets under management, I would say that it is unwise to have many robo advisors and should stick to just 1 or 2 robo advisors that serve different purpose of your needs.

Next, review your robo-advisors' portfolio to see if there's any overlap in sectors, geographical location. I would recommend keeping the robo advisors that are more diversified.

2

Question Poster

11 Jul 2020

Thanks for your reply. I have invested into Stashaway global portfolios and also, SYFE various portfolios like global, reits & equity 100. Am also, about to invest in Autowealth. Which one's you think i shud stop using amongst these ? sorry am very new to investing.

Tan Wei Ming

Tan Wei Ming

11 Jul 2020

I think what you need to review is the scope of the ETFs which area are each robo advisors covering. My suggestion is to lower the risk level of the global portfolio so that you can have a balanced portfolio that includes bonds and commodity.

Post

Write your thoughts