In this article we cover the following topics:
- SaxoWealthCare is an asset management service, what does this mean?
- Why should I choose SaxoWealthCare to manage my assets?
- What sets SaxoWealthCare apart from Singapore’s other robo-advisors?
- How do I get started?
- What is an investment plan?
- Is there a minimum investment amount or period?
- How much does SaxoWealthCare cost?
- What financial products do you invest my money in?
- How often do you update my portfolio?
- Who manages my portfolio?
- Can I invest through a joint or corporate account?
- Can I set up recurrent deposits?
- What returns can I expect from SaxoWealthCare?
- How will SaxoWealthCare invest my money?
- Can I change my investment plan?
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What is the difference between SaxoSelect managed portfolios and SaxoWealthCare?
- How is my money protected?
- I am already a client, do I need to open a new account?
SaxoWealthCare is an asset management service, what does this mean?
This means that when you sign up for SaxoWealthCare Saxo will manage your money for you based on your investment plan. Investment decisions and trades are then made on your behalf, you don’t have to set trades or make changes when markets change.
Why should I choose SaxoWealthCare to manage my assets?
Here are the three main reasons why you should choose SaxoWealthCare:
- SaxoWealthCare is digital, easy to use and operated by Saxo across many countries and markets. We are focussed on offering unbiased investment opportunities to help you meet your goals.
- SaxoWealthCare offers multiple investment models and strategies that Saxo we will put together for you in a suitable combination that aligns with your risk and loss preferences and maximises your chances of achieving your goals. Every portfolio is tailored over time to you and your needs.
- SaxoWealthCare has no lock-ins or withdrawal penalties so you can be confident that your money is available to you when you need it.
What sets SaxoWealthCare apart from Singapore’s other robo-advisors?
Robo-advisors don’t typically tailor a portfolio to achieving your goals. Instead they simply direct your money into one of a few standard portfolios, based on your risk profile and investment timeframe. If they consider your investing goal - for example, your intention to buy a property - that goal may only feature as a drawdown in the plan but has no impact on how you are invested or how you should manage risk when markets are bumpy.
With SaxoWealthCare, by contrast, we create a unique portfolio just for you, which optimises the likelihood of achieving your investment goals, regardless what they are, or how many you have. You are able to prioritise your goals – from critical to aspirational – and to update your plan over time whenever and however you wish, and SaxoWealthCare will update your portfolio automatically, always optimising toward achieving your goals. SaxoWealthCare will also tell you whether your goals look feasible, or whether you need to take action.
SaxoWealthCare is different from robo-advisers in how your portfolio is managed, from allocation and management to monitoring and protection. Your customised SaxoWealthCare portfolio is monitored, reviewed and rebalanced, daily if necessary, and at least monthly or quarterly, based on trade signals from some of the world’s largest portfolio managers.
Saxo also offers you Portfolio Protector, a feature that offers active protection by reallocating from riskier to more stable assets when markets are volatile. This is done automatically on your behalf and Portfolio Protector has no additional cost and can be switched on and off at any time – no lock in.
SaxoWealthCare also provides the human touch, with your portfolio professionally managed by experts, and support from highly-experienced experts in Singapore. This type of tailored service has only previously been available through private banking and professional wealth management services, which typically involve high costs and long-term lock-in periods, and they still do not monitor or rebalance your portfolio daily. SaxoWealthCare is the first digital wealth management service to provide this level of service online, allowing clients to turn their plans into their reality.
How do I get started?
To get started, you'll need to register for a SaxoWealthCare account and then go through the simple process of creating your personal investment plan based on your personal needs and goals. Once you are happy with your plan you review and accept the investment plan recommended by SaxoWealthCare and then submit an initial deposit (subject to minimums). When these three actions are performed, your asset management starts automatically. You can also watch our videos on how to get started and some of our unique features here.
What is an investment plan?
This is the plan we create based on your input about financial goals (buying a house in five years, retiring two years early etc.), how much money you want to invest, what type of 'equity style' you'd like to invest in, and how much risk you’re willing to take. We turn all these variables into a plan proposal we make for you. If you approve it, we build the corresponding investment portfolio mix and start investing your money.
Is there a minimum investment amount or period?
The minimum investment amount is SGD 25,000.
There is no minimum investment period; you can withdraw your money or close your account anytime, for free. However, we create all investment plans with at least a three-year horizon and recommend this as a minimum period for your investment to pay off.
How much does SaxoWealthCare cost?
The fees you pay for SaxoWealthCare depend on your investment amount and the product mix in your portfolio. Here’s a detailed breakdown of the costs (exclusive of GST) included:
A product fee (est. 0.17% - 0.45% per year), levied by the fund managers, is already included in the market price of the ETFs which make up your portfolio.
What financial products do you invest my money in?
We use exchange traded funds (ETFs) as investment instruments. In collaboration with reputable asset managers, we have compiled a collection of stocks and bonds ETFs that we can mix and match to suit your investment plan and risk profile.
How often do you update my portfolio?
If needed, we can automatically update or rebalance your portfolio every working day. We do this if there are market movements or goal changes that the portfolio needs to be adapted to.
Who manages my portfolio?
Saxo manages the portfolio allocation (the division between stocks and bonds ETFs), which is updated automatically on your behalf based on your investment preferences and market movements. The underlying ETFs that your portfolio is made up of are managed by industry leading asset managers.
Can I invest through a joint or corporate account?
Yes. When opening an account you choose which type of account you want. The investment process is the same regardless of your account type.
Can I set up recurrent deposits?
You can set up recurrent deposits through the bank account you want to transfer from, which will then be invested in accordance with your investment plan once your funds have been received and booked to your account.
What returns can I expect from SaxoWealthCare?
Because your portfolio is unique, so are your potential returns. When we build your investment plan we use a prognosis tool to show expected returns for various scenarios. Based on these expectations you can approve or decline the investment plan we built for you.
If you want to know more about the historical performance of the underlying portfolio building blocks you can find the information here.
How will SaxoWealthCare invest my money?
SaxoWealthCare uses Exchange Traded Funds (ETFs) as investment instruments. We’ve selected leading partners to collaborate with to deliver our portfolio building blocks using these ETFs. Our partners build a combination of ETFs, based on an agreement with Saxo, that SaxoWealthCare will use to build your personal portfolio. Click here for more information about the packages we use in asset management solutions.
Can I change my investment plan?
You can adjust your investment plan whenever you want, from your account dashboard. Once you submit your changes you will receive an updated investment proposal for approval. Within three working days of your approval, we will update your portfolio accordingly (if needed).
What is the difference between SaxoSelect managed portfolios and SaxoWealthCare?
Your SaxoWealthCare portfolio is unique to you, based on a dynamic asset allocation that is built on your personal financial goals, time horizon, risk tolerance, and investment preferences. SaxoWealthCare portfolios are managed and rebalanced to maximise the likelihood of reaching your life goals, hence no two plans are the same, as we all have different goals. SaxoSelect managed portfolios, on the other hand, are based on a selection of fixed asset allocation portfolios built on an investment idea or theme. SaxoSelect is about turning investment ideas into strong long-term returns.
With SaxoWealthCare we partner with asset managers to construct the portfolios for you. What is unique to SaxoWealthCare is that your customised portfolio is monitored, reviewed and – if needed – even rebalanced daily. SaxoSelect portfolios are also constructed with input from some of the world’s best asset managers, but they are usually rebalanced once a quarter to adapt to market conditions, based on the asset manager’s research. Unlike SaxoWealthCare, SaxoSelect portfolios don’t take into account your life goals, such as specific dates of life events when you plan to make withdrawals.
SaxoWealthCare also provides the human touch, with your portfolio professionally managed by experts, and support from highly-experienced experts in Singapore.
How is my money protected?
Saxo is regulated by the Monetary Authority of Singapore. As such all client funds are protected and kept in a segregated client funds account, separate from the company’s own money and assets.
I am already a client, do I need to open a new account?
No, you don’t need to open a new account to start an investment plan in SaxoWealthCare. Simply log in to the platform and click 'Portfolio' to get started with SaxoWealthCare.
Go to our website to know more.