What is an ideal customer profile for a local Robo-Advisor as opposed to a normal Financial Planner or Advisor? - Seedly
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Anonymous

Asked on 06 May 2020

What is an ideal customer profile for a local Robo-Advisor as opposed to a normal Financial Planner or Advisor?

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Eliezer
Eliezer, Content & Community Lead at Syfe
Level 6. Master
Updated on 06 May 2020

The conventional thinking is that beginner investors tend to appreciate the simple, fuss-free portfolios robo-advisors provide while more experienced (and wealthier) investors tend to benefit from the targeted investment advice and products a financial advisor can offer.

At Syfe, we don't believe in this dichotomy. Instead, we believe that investors of all stripes should have access to affordable and easy-to-understand portfolios that are sophisticated enough to meet diverse investment needs. On top of that, financial advice should be available for all who require them.

As such, our offerings combine the best of both worlds. Our Global ETF portfolios and Singapore REIT portfolio cater to both growth and income investors. Meanwhile, our financial advisory team helps investors better understand their financial situation and how they can reach their goals (you don't even have to be Syfe client to speak with them).

These qualities set us apart from other robo-advisors and help us better support our clients on their journey to financial independence!​​​

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Shengshi Chiam, CFA
Shengshi Chiam, CFA, Personal Finance Lead at Endowus
Level 7. Grand Master
Answered on 06 May 2020

A true Boglehead (the founder of Vanguard) that:

  1. Belives that paying less is the best way to get more returns

  2. Holds us accountable for all-in cost, and help us scale

  3. Looks at long term investing, and stay true to the path

  4. Keeps things simple

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Robo-Advisor

Generally, you will need to have a proper understanding about yourself, e.g. risk profile, investment horizon, capital etc. This is because the onus is on you to ensure that you are investing into the right assets that fits into your investment objective.

Traditional Financial Planning

In general, you will consult a human who listens to you, brainstorms, discuss and to create goals together with you. Through this process, the primary goal is to ensure that you embark on an investment that you are confident to invest into.

I share quality content on estate planning and financial planning here.

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Yang Teng
Yang Teng
Level 9. God of Wisdom
Answered on 06 May 2020

Roboadvisors can only gauge your risk appetite using a few questions from the questionaire you answered when setting up the account. A financial planner or advisor will know your specific circumstances and financial background, and can from there advice accordingly. Each individual is unique so there is no one size fit all customer profile.

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