One of the big news last month was the closure of one of the robo-advisers, Smartly – Singapore robo-adviser Smartly folds business. It was very unfortunate for people that invested with Smartly because they will have to realize their losses at a very bad time. On the other hand, it shows that when these robo-advisers close shop, they will not run away with your money which has always been a big worry for investors.
People also started asking if this will happen to other robo-advisers such as StashAway/Endowus. As far as I can tell, definitely not anytime soon. Similarly, there were telltale signs that Smartly is not doing well. Firstly, they have stopped innovating or introducing new products for a long period of time when StashAway and Endowus have ventured into investing using SRS/CPF. In addition, both StashAway and Endowus have been very active in terms of engaging investors through their blog articles/insights/webinars.