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The advent of technology has enabled automation to make everyone's life easier, which goes the same for investing. Using algorithms and logic with a touch of human input, investing has been made into something that can be automated. Find out about the best robo advisors in Singapore and the platforms that are best suited for you.
Robo advisors are digital platforms that make an automated and algorithm-driven investment decisions. Instead of a fund manager, robo advisors offer investment solutions based on mathematical rules or algorithms. These algorithms are calculated and programmed by companies based on their respective financial models and knowledge, hence requiring less human supervision. This makes low cost, diversified, passive investing accessible to investors.
This is, in contrast, to actively managed funds that are run by mutual fund managers. With the use of algorithms, managing the fund is cheaper than the usually hefty 2 to 3% management fees that fund managers charge.
In Singapore, most robo advisors allow you to invest in the US, and global ETFs and the portfolios offered are usually exposed to various asset classes. They span from equities to commodities and even gold.
Investing through robo advisors is a pretty simple process. All you need to do is set up an account with your chosen robo advisor and complete a quick questionnaire to establish your risk appetite and financial goals to start investing.
Here’s how to get started:
Despite it's mass-market appeal, not all robo advisors are created equal. There are minute differences in the way a robo advisor works. The best robo-advisor depends on the needs of the users. What needs to be considered when picking a robo-advisor are platform fees, fund management fees, minimum investment amount, and the ability to support cash, SRS or SPF.
With so many new robo advisors in the market today, deciding which robo advisor to put your funds in can be challenging. We’ve got you covered!
Here are 11 robo advisors in Singapore with their annual fees and other criteria to help you get started:
Robo Advisor | Fees | Minimum Investment Amount | Cash, SRS, CPF Support |
|---|---|---|---|
0.65% (first S$20k) to 0.4% (S$100k) | Blue tier: None Black tier: S$20,000 Gold tier: S$100,000 | Cash | |
0.8% (less than S$25k) to 0.2% (more than S$1 Mil) | None | Cash and SRS | |
Management fees: 0.50% p.a. Platform fees: USD$18 p.a. | S$3,000 | Cash | |
Management fee: 0.75% p.a. | S$1,000 or US$1,000 | Cash | |
Cash: 0.25% (more than S$5 Mil) to 0.6% (up to S$200,000) CPF & SRS: 0.40% | S$1,000 | Cash, SRS, CPF | |
0% (up to US$10,000) to 0.3% (more than US$10,000) + US$1 + taxes per trade for US-listed ETFs | None | Cash | |
0.6% p.a. (next up to S$100,000) and 0.5% p.a. ( for S$100,000 and above) | $50 (monthly RSP) $100 (one off) | Cash and SRS | |
0.88% p.a | US$100 | Cash | |
0.5% p.a + 10% p.a of any positive returns | None | Cash | |
0.5% p.a. (first S$25,000) to 0.6% p.a. (above S$25,000) | S$1 | Cash | |
0.88% p.a. (first S$50,000) to 0.5% p.a. (>S$100,000) | S$5,000 | Cash |
Comparison of the Best Robo Advisors in Singapore
Not all robo advisors are created equally. Here is our take on which robo advisors bests suits different profile of investors.
For entry level investors who are looking to dip their toes into the world of investing, these robo advisors are ideal because of their fees and low to no minimum investment amount.
Robo Advisor | Annual Management Fee | Platform Fee | Minimum Investment Amount |
|---|---|---|---|
Syfe | 0.35% – 0.65% | S$0 | S$0 |
Stashaway | 0.20% – 0.80% | S$0 | S$0 |
The Best Robo Advisor if you are just starting out
With almost no minimum investment amount, these platforms are great low-risk and low commitment options for newbies to test things. Furthermore, these platforms have a relatively intuitive interface that also make investing less complex for beginner investors.
For investors with more experience, these platforms offers more sophisticated products that may be right up your alley.
Robo Advisor | Annual Management Fee | Platform Fee | Minimum Investment Amount |
|---|---|---|---|
Endowus | 0.05% – 0.60% | S$0 | S$1,000 |
AutoWealth | 0.50% | S$18 | S$3,000 |
Kristal.AI | 0 to 0.30% | S$0 | S$0 |
Best Robo Advisor if you already are familiar with investing
There is already a significant jump in the stipulated minimum investment amount compared to the above three robo advisors, Endowus and AutoWealth, compared to the stipulated minimum investment amount. Furthermore, both Endowus and Kristal.AI offer investment products that are more complex with the option of customising your portfolio. So this may be good news for seasoned investors!
Robo advisors offer numerous benefits when it comes to investing. You will realise that robo advisors are especially advantageous because:
With all that said, there are still cons to investing in robo advisors:
At this juncture, you may be wondering if a robo advisor is the right investment solution for you.
If you are a time-starved working adult looking to grow your money passively (think: most Singaporeans today, between 21 to 45 years old), robo advisors may be ideal for you.
Without having to physically head down to the bank to look for a relationship or fund manager — who may or may not even have your interests at heart — robo advisors are a transparent, low-cost, and perfect way to grow your wealth passively.
Still have questions about robo advisors or are wondering if you should make the jump to invest with one? Check out our curated list of guides to understanding all you need to know about investing and robo advisors to kickstart your investing journey:
Robo-advisors invest in various products from ETFs, Equities, REITs, Gold, Cash Management, and many more, depending on the robo-advisor utilised.
Yes, as with all forms of investments, there is the risk of losing money due to it being subjected to market volatility. Therefore, it is important that you create a proper profile based on your aversion to risk and your goals.
No, most likely, robo-advisors do not beat the market. Robo-advisors are programmed using algorithms to invest funds based on requirements, goals and risk tolerance and not to beat the market.
Robo-advisors are generally good for beginners due to their low cost and low entry barrier, making them accessible to all, including those with smaller net worth. Also, having the robo-advisors automate trading decisions means a budding investor can start creating a portfolio without extensive knowledge on investing.
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