Best for Beginner Investors
Philip SMART Portfolio
Annual Management fee
Minimum Investment
Platform Fees
Underlying Investment
Funding Options
Expected annual return
Phillip SMART portfolio is one of the top Robo advisors and an investment channel that combines your investment expertise and technology to ease investing. Through Phillip SMART portfolio, you can create an investment account, start investing, monitor its performance, and fund it all at the comfort of your phone or other gadgets with online services.
Unfortunately, unlike many other reputable Robo advisors, you cannot use CPF as a funding option since the only available funding options are cash and SRF.
All details
Key Features
- Unlike other Robo advisors, there are no brokerage fees and upfront fees.
- The process of opening and accessing your account is fast, simple, and all available online.
- You need to have a minimum investment of S$300 when opening the account and a subsequent monthly investment of S$100.
- You pay a management fee of 0.5% PA.
- You can have more than one Phillip SMART portfolio account provided each one meets the requirement of a minimum investment amount of S$300.
- You receive monthly statements for all actions performed on your account for that month through the Phillip wealth management website.
- You don’t have to be a Singaporean to have this account since it supports other geographical regions. Nevertheless, US residents and citizens are currently not allowed to register.
- You can make partial withdrawal requests as long as your account maintains at least S$300 after you withdraw. Your transaction is processed within 14 days.
- There are investment approaches such as unit trusts and exchange-traded notes used.
Promotion
- There are currently no promotions available for this Robo advisor
Pros & Cons
Pros
- There are no entry or exit fees
- There is optimal asset allocation for different asset classes
- Professional portfolio managers manage accounts
- There is an online risk appetites assessment to guide you on the best investment style.
- The system automatically picks the details after every transfer you make; thus, no need to send the information to the investment managers.
Cons
- You need to have at least $300 for you to open an account, which can be high for some beginners
- There are no joint accounts in this Robo advisor
- US citizens and residents cannot open a Phillip SMART portfolio account
General Information
Other Fees and Charges
Some of the fees that you are not expected to pay even if they are included by other Robo advisors are:
- Brokerage
- Platform fees
- Upfront fees
Fees that you will pay in Phillip Smart include:
- Unit trusts
- Investment trusts
- Close-end funds
- Exchanged-traded funds
- Business trusts
- Management fee of 0.5% PA
Other fees applicable are SGX clearing, Dividend handling fees, GST fees, and trading fees. There are no fees paid in case you decide to exit the program.
Eligibility
- Be above 18 years old
- Have a minimum investment amount of S$300 to deposit in the account
- Have an ID and proof of residence for non-Singapore residents
- Have good online access
Opening an Account
- Open the Phillip Smart portfolio homepage and log in and click on the I am ready button.
- Select the area where you would want the investment you are making to help you.
- Read the open caution note and follow the instructions given and proceed to make the account starting with the sustainability self-assessment.
After you follow the steps and finish setting up the account, you deposit the minimum amount of S$300 and get the account started.
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 Phillip SMART Portfolio Compare With Other Robo Advisors In Singapore?
Robo Advisors names | Minimum investment | Platform fees | Annual management fees | Funding options | Expected annual return |
Syfe | None | S$0 | 0.65% | REIT+, Cash, core | Not available |
Auto-wealth | S$3000 | US$18 | 0.5%+US$18 | Cash | 27.2% of net fees |
Stashaway | None | – | 0.8% | Cash, SRS | 34.69% |
Endow us | S$10000 | – | 0.6% | SRS, CPF, Cash | 15.6% |
OCBC Robo Invest | US$100 | S$0 | 0.88% | Cash, CPF | Not Available |
Phillip SMART Portfolio – Our Verdict
Opening a Phillip SMART portfolio account is a sure way of conveniently investing your money, especially if you have a fixed income. There are fixed monthly savings that can help you better manage your funds. You can analyze your risk profile and go for the option that fits you best.
Phillip SMART portfolio makes investing for various industry sectors easier and more manageable for you. Additionally, you have a chance to do an online risk analysis which enables you to tell the investment service that works best for you.
Opening the account is free, and there are no small fees you pay to keep the account running. Unfortunately, although you don’t have to be a Singaporean to access the Phillip SMART portfolio, US citizens and residents are currently not in a position to enjoy these services.
Final Thoughts
Phillip SMART portfolio provides you a great opportunity to invest money that you can use to grow your wealth shortly and make something big out of it. As long as you have the minimum requirement of S$300 to help you open the account, you are ready to start enjoying the benefits of owning the Phillip SMART portfolio account.
It is also economical since there are no other fees required, which is not the case for other Robo advisors. All you need to have is the subsequent monthly amount of S$100, and the 0.5%PA management fee, which does not belong to the investment managers but is part of your savings.
Key Takeaways
- You pay an annual management fee of 0.5% for your account.
- You can easily access your portfolio holdings account online 24/7
- The Phillip SMART portfolio services are accessible even to people living outside Singapore.
- There are no breakage, upfront fees, and platform fees
- You can request partial withdraw from the account as long as you maintain S$300 in the account after you withdraw. You need to print and mail the Business Reply Envelop and the Transaction Form for the partial withdrawals.
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FAQs
Can You Have More Than One Phillip SMART Portfolio Account?
Yes, you can have more than one account if each has a minimum amount of S$300. There is no limit on the total accounts you can own, but each one needs a separate online application
How Can I View My Phillip SMART Portfolio?
You can view the portfolio through the Phillip wealth management website, where this information is available 24/7. Moreover, you can download the My wealth mobile App and use it to view your portfolio.
How Do I Fund My Phillip SMART Portfolio Account?
You can fund your account through options like:
- Internet banking
- Telegraphic transfer
- Phillip Trading Account(s)
- Subsequent requirement scheme account (SRS)
- Cheque
- Google Pay, PayLah! PayAnyone, Paynow
How Do I Fund My Phillip SMART Portfolio Account with SRS?
The steps you follow to fund your account with SRS are:
- Print the transaction form
- Complete the details in the sections marked in red
- Send a clear photo or a scanned copy of the transaction form to digichannel@phillip.com.sg
After this, funds are deducted from your SRS account and reflect in your Phillip SMART portfolio account within a week
How Can I Contact Phillip SMART Portfolio?
You can reach out to investment managers for customer care services through:
- Sending an email through digichannel@phillip.com.sg
- Live chat 8.45am-5.30pm, Mon-Fri GMT
- Call them at (65) 6531 1555 from 8.45am-12.00am, Mon-Fri GMT
The call and live chat services are unavailable during public holidays.
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