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Learn About Robo-advisor Services Options in Asia

By on September 16, 2016

If you’re interested in tech advancements in the island city-state of Singapore, you’ll enjoy learning about robo-advisor services options in Asia. These are automated platforms for advisory and they are getting quite a bit of buzz in other countries in America, as well as in the United Kingdom. Now, they are beginning to grab a share of the market in Asia.

What Are Robo-advisor Services? 

These services provide automated, yet personalized, investment suggestions to users. They also assist with portfolio constitution, via ETFs and via mutual funds. Asia is a hot market for these services, as Asia is perceived as being a part of the financial market which will have significant growth via private wealth during the next ten years and afterwards. 

A consulting group called The Boston Consulting Group believes that the Asia Pacific region, with the exception of Japan, will begin to outpace Europe in terms of private wealth. In fact, the Asia Pacific region is expected to accrue fifty-five trillion dollars of this type of wealth over the next few years. If these projections are accurate, this region will be the home of over a quarter of the world’s private wealth. This will be a big jump from the current percentage of twenty-one. 

Robo-advisors are designed to provide the services that millenials want. Millenials are growing and they prefer to do business via software more often than not, so they are very receptive to using robo-advisors in order to grow their private wealth. Of course, non-Millenials may also want to get on board with this trend. Democratization will be possible, as an easy sign-up procedure means that anyone who wants to sign up may do so in just several minutes, without needing any special technical skills or unusual hardware. At present, robo-advisors aren’t too prevalent in Asia. In America and Europe, examples of these platforms include WiseBanyan, Betterment and Wealthfront.  

Bambu is a Singaporean robo-advisor app to watch for. Like most profiles, it uses information from clients in order to put together customized investment opportunities, which users may participate in or not. Minimum investments will be required in order to participate. Another program which is worth looking out for is THEO, which also offers personalized investment options to clients. Clients must invest at least 940 USD in order to use THEO and thousands of users are already on board. 

Robo-Advisors Are Cost-effective 

In the past, people who wanted practical investment advice would need to pay experts in order to get it. Technology is now making it easier for users to get the financial advice that they want and to begin investing, without the higher fees of the past. If you think that trusting a robo-advisor to create an investment plan for you, based on information that you provide and the advisor’s own algorithm, is a wise decision, then you should definitely consider using one of these services in the future. 

Now that you have the inside scoop on robo-advisor services, you’ll be ready to move forward and consider using these services in Asia Pacific.

About the Author:
Morris Edwards is a content writer at CompanyRegistrationinSingapore.com.sg, he writes different articles like “Citizenship by Investment Programs for an Instant Second Passport”, “Singapore is a wonderful place to do business” and related topics like Business Registration in Singapore.

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