Which Robo-Advisor would you recommend to beginners? - Seedly

Robo-advisors

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Asked by Anonymous

Asked on 10 Apr 2018

Which Robo-Advisor would you recommend to beginners?

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Yeap Ming Feng
Yeap Ming Feng

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Level 5. Genius
Answered on 15 Apr 2018

For a start, I would not outright recommend Robo-advisor alone for beginners. I believe that everyone should have a portfolio of different products to diversify their risk.

As much as Robo-advisors allow a low cost and certain degree of diversification, it will be good to really understand where all the money is going to and how else can you enhance it.

I am currently on Stashaway to give myself a little bit of exposure to the overseas market. This is however, only after I have a little bit of Singapore Savings Bonds and STI ETF and of course, insurance coverage.

As beginner, it is good to build a good base of stable, low-risk investment products, which at the moment, I would not be considering Robo-advisors as low risk yet.

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Kenneth Lou
Kenneth Lou

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Level 8. Wizard
Answered on 10 Apr 2018

Hi there! I would recommend you to consider a few things:

1) What are robo advisors: Robo advisors mainly promise Low-cost Diversified Passive Investing Unlike traditional funds, they have less fees and easier to use product

2) Which to consider: There are 3 main contenders in Singapore: Stashaway, AutoWealth and Smartly. The other 2 are by older players in the market: FSM MAPS and POEMS SMART.

Each has their own pros and cons. I'm personally on Stashaway, but so far the returns have not been great due to a pretty bad market since the turn of 2018. Till date, my returns have been -1.5% as it has been up and down. But at the end of the day, I plan to Hold on for almost 10 years (a long duration) so let's see!

But I would highly recommend you to read a few things:

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