Howdy! I might have mentioned before that I’m taking the first year to evaluate all three retail robo-advisors that we have in Singapore. They are what I affectionately call the Singaporean ASS – AutoWealth, Smartly and StashAway.
Jokes aside, I recently opened my AutoWealth account after attending one of their workshops to find out more about them. Well, I learnt quite a few things along the way. I figured you would be interested in them!
AutoWealth has a Financial Advisers License (FA100064-1) whereas StashAway holds a Capital Markets Services License (CMS100604-1).
I think Smartly is simply the technology provider (VCG Partners is the license holder) and thus, itself does not hold either of the two license. To the best of my knowledge, a robo-advisor in Singapore would require one of the two license type. I don’t know the differences between them though. Help me out …