BEST ROBO-ADVISORS – (UPDATED JANUARY 2024)

What are Robo-advisors?

Robo-advisors are digital platforms that provide automated, algorithm-driven financial planning services with minimal human supervision. Robo-advisors help make investing in the stock market simpler, providing a good starting point for beginners getting into investing.

This does not mean that there are no humans involved. Several services will also provide human advisors that can answer any queries on investing through their platform. However, they are meant to provide broader direction, with automation performing the majority of portfolio management.

As with any other provider, Robo-advisors will take into account your financial goals, investment timeframe, and risk appetite in order to create the right portfolio for you. These Robo-advisors will manage your investments and rebalance your portfolio when needed, all according to your risk appetite.

As of 2021, Robo-advisors are managing about S$2.15 billion in Singapore

Barely 0.01% of the S$4 trillion asset management industry.

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Widest funding options, CPF, SRS and Cash: Endowus
Best for REITs: Syfe & Endowus & OCBC Roboinvest
Best for tight budgets: UOBAM Invest & Syfe & StashAway & SqSave
Best for short-term investments: Endowus Cash Smart Ultra
Best for ESG-focused investments: Endowus
Most customisable options: Endowus
Robo-advisorMinimum investment amountUnderlying investmentsFunding optionsManagement fees
AutoWealthAutowealth Flexi Cash: S$1,000
Autowealth Starter: S$3,000
ETFs, Stocks, BondsCashAutowealth Flexi Cash: 0.1% + US$18 p.a.

Autowealth Starter: 0.5% + US$18 p.a.

EndowusS$1,000Funds
Cash, SRS, CPF(OA)
0.05% to 0.60% + 9% GST from Jan 2024
DBS digiPortfolioSaveUp: S$100

Income: S$1000

Asia: S$1000

Global: US$1000

Equities, ETFs, Unit trusts, Bond unit trustsCash0.25% to 0.76% of portfolio value p.a.
Kristal.AIDependent on specific PortfolioCommodities, ETFs, Equities, Fixed IncomeCash1.08% per annum + Safe Keeping Fee: 0.162% p.a. + Brokerage fee of USD1
OCBC RoboInvestUSD$100Commodities ETFs, Equity ETFs, Fixed income ETFsCash0.88% of total investment value p.a.
Philip SMART PortfolioGeneral Investing:S$300

US Equity:S$3000

Bonds, Commodities, Equities, Fixed IncomeCash, SRSGeneral Investing: 0.5% p.a.

US Equity: 0.8% p.a.

SaxoWealthCareS$25,000ETFs, Equities, BondsCash0.51% p.a.
StashAwaySGD Deposit: None

USD Deposit: USD$10,000

ETFs, BondsCash, SRS0.2% to 0.8% p.a.
SyfeS$0 – S$5,000ETFs, Equities, Bonds, GoldCash0.35% to 0.65% p.a.
SqSaveNoneETFsCash0.5% p.a.
UOBAM InvestS$1Bonds, Equities, ETFsCash0.6% to 0.8% p.a. + underlying fund-related fees dependant on fund
UTrade Robo (UOB KayHian)S$5,000Equities, Fixed Income, Commodities, ETFsCash0.5% to 0.88$ p.a. + GST

All information is taken from their official websites and is accurate as of December 2023

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For cash parking solutions

Robo-advisor / FundMinimum investment amountProjected returnsUnderlying investmentsFunding options
Endowus Cash Smart SecureS$1,0003.5% to 3.8%50% Fullerton SGD Cash Fund
50% LionGlobal SGD Enhanced Liquidity Fund
Cash / SRS
Endowus Cash Smart EnhancedS$1,0004.2% to 4.5%50% UOB United SGD Fund
30% LionGlobal SGD Enhanced Liquidity
20% Fullerton SGD Cash Fund
Cash / SRS
Endowus Cash Smart UltraS$1,0004.6% to 4.9%20% LionGlobal SGD Enhanced Liquidity Fund
10% Fullerton Short Term Interest Rate Fund
10% LionGlobal Short Duration Fund
15% Fullerton SGD Cash Fund
35% United SGD Fund

10% PIMCO Low Duration Income Fund

Cash / SRS
StashAway SimpleS$10,0003.7%30% LionGlobal SGD Money Market Fund
70% LionGlobal SGD Enhanced Liquidity Fund
Cash / SRS
StashAway Simple PlusNone4.9%45% LionGlobal Short Duration Bond
35% Nikko AM Shenton Short Term Income Fund
20% LionGlobal SGD Enhanced Liquidity Fund
Cash / SRS
Syfe Cash+None3.7% (SGD)70% LionGlobal SGD Enhanced Liquidity Fund SGD
30% to LionGlobal SGD Money Market Fund
Cash

All information is taken from their official websites and is accurate as of December 2023

It seems that these solutions run on similar underlying financial instruments. In our opinion, using one from a preferred provider will make it easier to manage. For now, most Robo-advisors are fee-less, or have minimal fees, in order to gain market share.

These could be good options to park part of your emergency fund as the volatility is low. This means the chances of losing capital are also lower than the higher-risk funds above. However, note that these returns are projected and not guaranteed.

 

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We lay out the many options for you.

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Pros

  • Low cost of investing
  • Relatively passive
  • Minimal capital to start

Cons of investing in Robo-advisors

  • Portfolio cannot be personalised and is managed collectively according to the fixed portfolio.
  • As most most Robo-advisors right now operate on venture capital funding, the longevity of their business is not proven.

 

Should you use Robo-advisors?

Robo investing is an easy way to start investing. While you’re learning about how you can build your investment journey, Robo-advisors are a great starting point to grasp the general inner workings of investing.  

Some reasons you should consider Robo-advisors

  • If you are a new investor
  • Do not have the time to research and execute your investment plan
  • Starting with a small capital sum

It is important to remember that Robo-advisors are not a one-stop solution to all things investment! There are still some qualities that robo-advisors lack when it comes to planning and growing your money in the long run. 

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