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Best for Investors Looking for A Holistic Platform

MoneyOwl Review

0.5% to 0.6%

Annual Management fee

S$50 per month

Minimum Investment

N/A

Platform Fees

N/A

Expected Annual Return

Equities, Bonds

Underlying Investment

Cash, SRS

Funding Options

Get S$200

When You Invest In SRS Funds

MoneyOwl provides a platform to invest but is not the same as other Robo advisors. The critical difference between MoneyOwl and other platforms is that you get to invest with the help of a human advisor if you want. This means that you can call a MoneyOwl wealth expert and have them explain anything that you might not understand.

Money does not invest in ETFs but on funds from international investment manager Dimensional Fund Advisors. It is also a great platform if you are planning to invest in small amounts regularly. However, MoneyOwl Pte Ltd has only four funds from dimensional funds, but its strength lies in its holistic approach to investing.

All details

  • An initial investment of $50 per month with a free advisory fee of the first $10,000.
  • Offers different services such as investment, will writing, insurance, and financial planning.
  • Offers four funds to invest in. They include:
  1. Dimensional Emerging Markets Large Caps Core Equity Fund (SGD, Accumulation)- Has 900 stocks from emerging markets such as Indonesia, China, Brazil, and India.
  2. Dimensional Global Core Equity Fund (SGD, Accumulation)- has 7,500 stocks from 23 countries.
  3. Dimensional Global Short Fixed Income Fund (SGD, Accumulation, Hedged) – Has about 180 assets in 17 countries, with 25.29% in North America and 53.24% in Europe.
  • It’s the first fund management company in Singapore with the Capital Markets Services Licence that offers clients a chance to walk with a financial adviser in their investment journey.
  • MoneyOwl is a financial adviser and fund management company licensed by the Monetary Authority of Singapore. It is a joint venture between NTUC Enterprise Co-operative Ltd and Providend Holding Pte Ltd.
  • It has a Product Highlight Sheet that offers more information before you start investing and offers a comprehensive financial planning service at an introductory rate of $99. The actual value of this service is $535.

Investment:

  • Enjoy free advisory services on your first S$10,000
  • Get S$200 in eCapitaVouchers when you invest in SRS funds

Wills:

  • Enjoy free will writing service by joining their newsletter to get the promo code.

Comprehensive Financial Planning:

  • Benefit from the $99 introductory fee while the usual fee is S$535

The Pros

  • It is a one-stop shop for all your financial needs with will writing, Investing, and financial planning services
  • You can start investing $50 per month with a free advisory fee on the first S$10,000
  • Enjoy access to cost-effective benefits such as free will writing and a 50% commissions rebate
  • Comprehensive financial planning that lets you enjoy access to national schemes
  • Benefit from investment funds designed to provide retirement income

The Cons

  • Offer low returns on cash saving in WiseSaver
  • Offers four funds from Dimensional Fund Advisors
  • Excludes applications from different nationalities or tax residencies

General Information

Investment:

Advisory fees apply to both SRS and cash investments and are based on total assets under management across all portfolios apart from WiseSaver.

  • First S$10,000: Free from now till 31 December 2021.
  • Up to S$100,000: 0.60% p.a.
  • S$100,000.01 and above: 0.50% p.a.

Insurance Fees:

  • Free comparison fee tool. MoneyOwl returns 50% of the insurance commissions after deduction an admin charge of S$26.75

Will Writing:

  • Free

Financial Planning:

  • S$99

WiseSaver Fee:

  • No platform fee or advisory fee but a fund-level fee of 0.15% p.a charged by the fund manager

Eligibility:

You have to be above 18 years and above

Requirements:

You can create an account with my Info or enter your details manually. If not, you need:

  • NRIC or Passport
  • Proof address from your bank statement or any utility bill that is not more than three-month-old

Disclaimer: This information may differ from what you see when you visit other financial service websites or the product’s official site, but Loan Advisor continues to keep every detail updated and accurate. This site may be compensated through third-party advertisers. However, the results of our comparison tools which are not marked as sponsored will always be based on objective analysis.

How Does MoneyOwl Compare with Other Robo Advisors in Singapore?

Robo-advisor

Minimum Initial Investment

Platform Fees

Annual Management fees

Funding options

Expected Annual return

MoneyOwl

S$50 per month

0.5% to 0.6%

Cash & SRS

Not available

StashAway

No minimum investment

0.8% (Up to $25,000)

Cash &SRS

34.69%

Smartly

$50

1% (Up to $10,000)/ 0.7% (more than $10,000)

Cash

Not available

Endowus

$10,000

0.60% for first $200,000

0.40% flat fee for any amount for CPF or SRS money

SRS, Cash & CPF

15.69%

Autowealth

$3,000

Us$18

0.50%

Cash

27.2% of net fees

 

MoneyOwl Robo Advisor – Our Verdict

MoneyOwl is a comprehensive investment platform with additional services such as will writing and financial planning. The fund manager offers an S$0 investment advisory fee for the first S$10,000, encouraging beginner investors to kick start their investment journey.

MoneyOwl has offered insurance benefits to residents of Singapore, including insurance advisory services that commissions do not incentivize. You enjoy a 50% rebate on insurance commissions.

Final Thoughts

MoneyOwl Stands out from other Robo advisors because it offers Dimensional Funds where you can invest in cash or SRS. The best part is you get to work with human wealth advisors, which is a feature that most platforms lack, which will come in handy if you are new to investing. MoneyOwl also offers additional services such as will writing and financial planning at an affordable price.

Key Takeaways

  • MoneyOwl is an all in one platform offering insurance, will writing, financial planning, and investment services
  • Ideal for investors who want to start small
  • Offers free advisory fees for the first S$10,000 and an annual management fee of O.5% to 0.6%

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FAQs

You can withdraw to your bank account or cash account. You can choose to withdraw all or part of it to your account.

You will need to log in Under Investment & Savings Card, then select the portfolio you want to withdraw from

MoneyOwl is an all-in-one platform that offers the services of a human advisor, which is ideal for beginners with the fees it charges. However, if you experience and need automated investing, you might want to go with Endowus.

No, there are no fees charged when you close your account.

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