5 Robo-advisors for millennials who want to start investing

Investing is a tough job for lazy people. There’s so much research to do, so many different, unfamiliar terms, and most of us aren’t experienced enough to know where to start. If only there was someone or something that could do all the tough work for us.

The short answer is – yes, there is! With the help of Robo-advisors, you can now set up an investment portfolio in a few clicks, park your money away and watch it grow. Simply put, Robo-advisors are digital advisory services that replace the traditional human investment manager. You can invest directly with different Robo-advisors and monitor your portfolio whenever you want to.

The main appeal of Robo-advisors is that they help to automate your investments in a low-risk way, and you can invest passively in the long term. Their fees are also much lower than the commissions fees you’ll be charged at a traditional investment brokerage.

Sounds like something you’re interested in? Here are 5 of the best Robo-advisors for you to kick start your investing journey.

1. StashAway
 
Photo Credit: StashAway

If you’re planning to make very large investments (at least S$2 million) through a Robo-advisor, StashAway would be the best platform to do it. This is because for investments over the S$2 mill mark, StashAway charges one of the lowest fees and uses its investing algorithm to adapt to economic trends.

While most of us may not have that much money to invest, StashAway still appeals to the majority of youths because they don’t charge fees for withdrawals, transfers or account closure, nor does it require a minimum account balance.

2. DBSdigiPortfolio
 
Photo Credit: DBS Bank

So you don’t have 2 million dollars, now what?

If you only want to invest a small amount, the DBS digiPortfolio is good option with one of the lowest management fees – 0.75% p.a. – regardless of how much or how little you invest. Since DBS is also a household name, you can be assured that your investments will be in good hands. However, you should keep in mind that there is a required minimum investment of S$1,000.

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3. Syfe
 
Photo Credit: Syfe

If you want to invest in REITs (Real Estate Investment Trusts), consider Syfe – the only Robo-advisor in Singapore that offers a REIT-specific portfolio. Risk-managed with competitive fees and no minimum investment requirement, the platform also allows for automatic rebalancing and reinvesting of dividends, which are not usually allowed via a traditional broker. So if you’re interested in real estate investing, give Syfe a try!

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4. Endowus
 
Photo Credit: Endowus

Want to invest using your CPF savings? You can do so with Endowus, the only Robo-advisor that allows you to invest using your CPF. If you’re able to cope with their minimum account balance of S$10,000, it’s really a great platform for those of you who want to make a significant investment. There are also no fees for transfers, withdrawals, or account openings and closure. Besides CPF, you can also invest in SRS funds and cash.

​5. AutoWealth
 
Photo Credit: AutoWealth

While they might not be the cheapest Robo-advisor in Singapore, AutoWealth is definitely one of the most renowned since they are one of two Robo-advisors that are “MAS-Licensed Financial Advisors”. With this platform, new investors can gain a better understanding of their investment goals, risk preferences, and have suggestions on asset allocation and projected returns.

If you aren’t comfortable with the idea of investing entirely online, AutoWealth also gives you the option to meet your financial consultant in person.

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