The Singapore digital wealth ecosystem (or more commonly  known as the robo-advisory space) has seen reasonable growth since the debut of StashAway, AutoWealth and Smartly in 2016 and 2017. With new entrants like MoneyOwl, Syfe, and even brokerages such as Saxo coming up with their own offerings, prospective users of digital wealth offerings need to understand what robo-advisors do to be able to choose the best robo-advisor or digital platform for their needs.

What are robo-advisors?

Robo-advisors are financial advisors who provide investment management online with low to minimal human intervention. They often combine brokerage services, investment instrument selection, risk profiling, and investment performance tracking services in a convenient, end-to-end service. As such, robo-advisors or digital wealth platforms are best seen as a combination of an online brokerage and an investment advisor. Unlike traditional advisors which has a large sales team, robo-advisors operate on a much leaner team structure, so their fees...