Let’s be honest. Who hasn’t dreamed of retiring early? You aspire to lead the rest of your life at a beach resort, a cocktail in hand while someone does all the heavy lifting.
Realising your early retirement dream, however, is not the easiest task. Those who dare to dream also take great care to increase their wealth by investing in the right financial assets. But the sheer amount of human intervention, not to mention planning, might not be what you signed up.
But with the advent of fintech, there have been no lack of robo-advisors that have taken on the mandate to grow your wealth. These automated investment platforms are built specifically to help you manage your investments through the careful use of algorithms and data insights.
Are robo-advisors the future?
Yes, in so many ways. In essence, robo-advisors do all the heavy lifting for you. The whole premise behind the automated investment system is to remove all the barriers to entry and create an easy-to-approach experience for anyone who seeks to build their financial portfolio.
Robo-advisors such as Stashaway covers all that, with a laser-focused approach towards empowering an investor with the right tools. “The DNA is three-fold - it’s got to be intelligent, transparent and cost-effective. We bring all these three to everyone, meaning there’s no minimum balance,” said Stashaway co-founder and chief investment officer Freddy Lim.
Different goals for different people
Stashaway takes an all inclusive approach to what it does. With no minimum balance required to be on board, the whole premise is for anyone (really, anyone) to take their first step towards building an investment portfolio.
This, according to Freddy, stems from the fact that everyone has a limited amount of money. “But how many of us can have the fund to dedicate to their child’s education 30 years from now? Their time frame is different, the profile is different,” he points out. Investing in multiple portfolios with multiple goals is the real challenge in today’s fast-paced digital space.
Hence, the last thing you want to worry about is the barriers to entry. That is stripped away since Stashaway has no minimum balance required for you to start with the robo-advisor. The whole premise behind Stashaway is to simplify the process for would-be investors. 15 minutes, that’s all it takes for someone to be on board with Stashaway. “A comprehensive survey is done to understand your financial status and we have an app that does onboarding on both Android and iOS,” said Freddy as he runs through the whole process.
Anyone can start investing with Stashaway
It is the simplicity with which you can start with Stashaway that makes it appealing to users. That, and the thought of having a safe platform to invest your hard-earned assets. Stashaway has made a name for itself in the robo-advisor space, mainly because of its laser-focus on safety and credibility. After all, Stashaway is licensed at the highest level with the Monetary Authority of Singapore and has a retail fund management license. “We are audited to death every quarter, including cybersecurity and tech risk audit,” said Freddy proudly.
But Stashaway understands that not everything is about the 1s and 0s of an online platform. While the automated investment platform is intelligent, transparent and most importantly cost effective, it is still helmed by experts who are ready to help. With a dedicated customer service center available to answer questions from 12,000 users, Stashaway is well-equipped to deal with the myriad queries from its users.
Humans at the heart of the robo-advisor
Freddy himself is also a fervent advocate, often conducting weekly sessions to guide users on how they can leverage on Stashaway’s system with his own insights on the financial market. “The user base is quite varied, ranging from the 25-29-year-olds that make up the largest group, onto more risk-adverse 30-somethings that appreciate Stashaway more,” said Freddy.
Freddy did offer up a free piece of advice for those who are keen to take the robo-advisor route with Stashaway. “It’s similar to managing a savings plan. Set goals to meet and be nimble,” he said.
Of course, you can also check out Stashaway’s Insights page, where Freddy’s insights are shared freely. That’s a good place as any to start on your research before you get started with Stashaway.