Best for Investors Looking for A Holistic Platform
MoneyOwl Review
Annual Management fee
Minimum Investment
Platform Fees
Expected Annual Return
Underlying Investment
Funding Options
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
Key Features
- 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:
- Dimensional Emerging Markets Large Caps Core Equity Fund (SGD, Accumulation)- Has 900 stocks from emerging markets such as Indonesia, China, Brazil, and India.
- Dimensional Global Core Equity Fund (SGD, Accumulation)- has 7,500 stocks from 23 countries.
- 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.
Promotion
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
Pros & Cons
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
Other Fees and Charges
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 and Required Documents
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.
See also: Syfe robo advisor & Kristal.AI robo advisor
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
How Do I Withdraw Money from MoneyOwl?
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
Which Robo Advisor Has the Best Returns in Singapore?
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.
Are There Any Fees If I Close My MoneyOwl Investment Account?
No, there are no fees charged when you close your account.
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