So anyway, in that post, I was talking about how US has companies like Betterment who are totally changing the way that people invest. For millennials with the attention span 1 second less than a goldfish, it's bloody difficult to get them to even think about investing. Even me, who is able to talk so colourfully about dreadfully mundane stuff (like everything on this blog), I am unable to get most of my friends to take control of their finances and eventually investing. And at least half the crowd that I preach to are university graduates, which just means that they are plain lazy. You don't need to be some rocket scientist to invest, you just need to not be lazy. And I swear. Too many people are lazy. Just by you reading this post, you're definitely going to end up better off than most people you know. #truth.
OKAY, RANT ASIDE. I typed so furiously that my tabletop and screen was shaking, haha. SO ANYWAY
I just saw this post by TI that introduced SMARTLY. (official website)
So there we go. We might just be able to get our very own robo advisor in Singapore.
Quick wishlist for the guys at SMARTLY to take note:
1) Option to select asset class exposure rather than fixed portfolios
2) Option to calibrate asset class exposure at the end of certain time periods
3) Options for the SGD investor (if you're doing it only in USD, don't waste time, just close your company now la)
4) Multiple asset classes
5) GOLD would be like a jizz bonus asset class
6) Several ways and methods to invest (monthly / annually / lumpsum)
7) Several ways and methods to withdraw (monthly fixed amount / monthly percentage)
8) Referral bonuses (since I'm gonna preach, why not also earn from it?)
Don't feel shy if you want to pick my brain or want to hire me, HAHA.
Anyway, I'm seriously excited about this. Like seriously. I know it doesn't sound like it, but I am. I'm hoping to be one of the first few people to use their services, and then criticize the shit out of them if anything is wrong. If it's not good enough for me, it's not going to be good enough to recommend to anybody.
Hi GMGH,
ReplyDeleteI talked about this in my blog recently. DrWealth was promoting their robo investment service in Aug 2015, but no updates since then.
Hopefully this Smartly will come to fruition.
Cheers,
Naro
Hey Naro, I read your blog and I wondered what happened to them! I've high hopes for Smartly!
DeleteHi GMGH,
ReplyDeleteAwesome wishlist.
Hi Naro,
I, too, was wondering what's happening to Dr. Wealth as things have been awfully quiet on their end. Anyway, I had sent them a Facebook message to ask about it a couple of mths back.
Me : You guys seem pretty quiet after the news of the low cost ETF portfolio. Any updates on that?
Dr. Wealth : Thanks for emailing. We are in transition as a business now and as such things are quiet.
Hi TI,
DeleteDr Wealth doesn't sound very convincing, haha. Maybe with Smartly is offering, it would destroy other competitors in the works. Exciting times!
Robo advisory is the next big thing. The financial advisory industry is ripe for disruption
ReplyDeleteVanguard has mutual funds with no sales charge and expense fees all under 0.5%, yet we can't even manage anything close to do that. We are totally ripe for disruption! I'm welcoming it!
DeleteI think it will great if their investment options allow SRS to participate. There are already lots of investments that accept only cash investment. I feel that those who put their money in SRS accounts are somehow being discriminated.
ReplyDeleteOh nice suggestion Vincent. Yeah, SRS would be a huge boost, especially because if it gets SRS approved, it sort of has a implicit check of approval by the G. I'd put my SRS money with such a company!
DeleteHow to find out the best Robo Advisor platform?
ReplyDeleteBest Robo Advisor
What is a Roboadvisor? Robo advisor is basically a class of financial advisor. Roboadvisor provides online portfolio management or financial advice with less human interfering.