I guess StashAway is popular due to no minimum investment capital, user-friendly app and interface, and one of the first roboadvisors available.
However, Syfe (a relatively newer roboadvisor) also offers no minimum starting capital and the fee starts at 0.65% (vs 0.8%) and 0.5% when total assets reach 20k. Not only are the fees cheaper for Syfe, but also the fees are not tiered in the sense 0.5% is applied to the whole amount instead of 0.65% first 20k + 0.5% above 20k. If you include the fees associated with funds (0.15% - 0.25%), then the cost of investment increases to 0.95%-1.05% for StashAway.
I do have friends making use of the referral bonus (free 6 months management for 10k) somewhat like a MLM scheme, but this method is certainly not sustainable for the long term. While the performance of the roboadvisor cannot be easily compared or predicted from past results, what we can change is the fees charged.
For funds below USD50k, kristal.Ai does seem like a good choice as there is zero management fees. However, there is no customised portfolio, automatic rebalancing and fractional investment which may be a hassle to some. For those who are sure of which funds to invest into, this platform can be better.
If you are keen to buy individual stocks/funds, you can consider IKBR for sum above USD100k as the $10 monthly fees would be removed or Tiger/TDA for smaller sums. Even with USD20k, IKBR is still cheaper (120/20k) at 0.6% in fees.
Personally, I am reallocating to AutoWealth as the platform offers lower fees (0.5% + USD18), individual custodian account (for security and peace of mind) and a wealth/relationship advisor (regardless amount invested). After building up a sizeable sum, maybe 100k SGD, I may transfer to buying individual funds myself through a brokerage for even lower fees.
I guess StashAway is popular due to no minimum investment capital, user-friendly app and interface, and one of the first roboadvisors available.
However, Syfe (a relatively newer roboadvisor) also offers no minimum starting capital and the fee starts at 0.65% (vs 0.8%) and 0.5% when total assets reach 20k. Not only are the fees cheaper for Syfe, but also the fees are not tiered in the sense 0.5% is applied to the whole amount instead of 0.65% first 20k + 0.5% above 20k. If you include the fees associated with funds (0.15% - 0.25%), then the cost of investment increases to 0.95%-1.05% for StashAway.
I do have friends making use of the referral bonus (free 6 months management for 10k) somewhat like a MLM scheme, but this method is certainly not sustainable for the long term. While the performance of the roboadvisor cannot be easily compared or predicted from past results, what we can change is the fees charged.
For funds below USD50k, kristal.Ai does seem like a good choice as there is zero management fees. However, there is no customised portfolio, automatic rebalancing and fractional investment which may be a hassle to some. For those who are sure of which funds to invest into, this platform can be better.
If you are keen to buy individual stocks/funds, you can consider IKBR for sum above USD100k as the $10 monthly fees would be removed or Tiger/TDA for smaller sums. Even with USD20k, IKBR is still cheaper (120/20k) at 0.6% in fees.
Personally, I am reallocating to AutoWealth as the platform offers lower fees (0.5% + USD18), individual custodian account (for security and peace of mind) and a wealth/relationship advisor (regardless amount invested). After building up a sizeable sum, maybe 100k SGD, I may transfer to buying individual funds myself through a brokerage for even lower fees.