Asked by Natalie Huang

It is much cheaper to buy unit trusts from online platforms than banks. Why do people still buy from banks? Is there some information I'm missing?

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    • Victor Chng
      Victor Chng, Co-Founder at Fifth Person Pte Ltd
      104 Answers, 126 Upvotes
      Answered 4w ago

      Hi Natalie,

      I personally don;t buy unit trust so I may not the right person to answer this question.

      You may want to check out fundsupermart or Philip. I think they should be quite competitive in term of unit trust.

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    • Hariz Arthur Maloy
      Hariz Arthur Maloy, Independent Financial Advisor at Promiseland Independent

      Top Contributor (Feb)

      355 Answers, 600 Upvotes
      Answered on 14 Feb 2019

      Hi Natalie, you can buy Unit Trusts for free online. Banks charge a fee as they're the one giving the recommendation.

      But also, buying unit trust is not a one time and forget thing. You use UTs as a means to build a sustainable balanced portfolio. And you'll usually use 3-6 funds to achieve global diversification and asset allocation.

      Instead of buying from a bank who may not be handling portfolio allocation and management, you can choose to DIY online or instead get from a Financial Advisor. An FA uses UTs to build portfolios, rebalance, adjust weightage in sectors based on market outlooks. That's a much better reason to pay a fee.

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    Robin Lim
    Robin Lim
    5 Answers, 6 Upvotes
    18 Feb 2019
    1. need to answer who is buying online. Probably none IT savvy.

    2. Too muc information online if u don’t know what u want.

    3. Buying for free commissio. Of course, have managemany fees.
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