As an NTUC Social Enterprise, MoneyOwl has inherited a legacy of doing social good and caring for the community. We care about helping ordinary Singaporeans manage their money well so that they can reach their life goals. In light of Covid-19 and the recession, our social mission is even more important now. MoneyOwl has thus launched several initiatives to help Singaporeans cope with their finances amidst the stress and anxieties during these uncertain times.
1. Lowering of Investment Advisory fees + Absorption of Platform fees
At MoneyOwl, we want to make investments accessible and affordable for regular Singaporeans. You don’t have to be a millionaire to grow your money through investments.
We’ve heard your feedback and we’re pleased to announce that we will be absorbing the platform fees. In addition, we’re also lowering the advisory fees across the board.
Our new fee structure is as below:
|Asset Under Management (AUM)||Old Advisory Fees
|New Advisory Fees
|S$10,000 and under||0.65%||0%*|
|S$10,000.01 to S$100,000||0.60%#|
|S$100,000.01 and above||0.50%#|
* Promotional rate applicable only to cash investments from now till 31 December 2021. The 0% fee may be effected through a rebate. See FAQs.
# Applicable to both cash and SRS investments, based on total AUM across all portfolios excluding WiseSaver.
We’re confident that with this new fee structure, you’ll be getting more out of your investments.
2. Introductory fee of S$99 (worth S$535) for Comprehensive Financial Planning
We believe that a holistic view of all your finances is really important so that you can make all the important money decisions impacting various aspects of your life.
To help you achieve your life goals, our non-commissioned salaried advisers will sit down with you for a detailed 2-hour session to review and plan out your financial journey. This includes optimising your CPF account as well. At the end of the session, you’ll get a detailed report with a recommended action plan. No pressure, no hard sell.
In light of recent uncertain times, it is even more important to start making sure that you and your family are taken care of. MoneyOwl’s Comprehensive Financial Planning service, usually valued at S$535 is now at a low introductory fee of S$99, to help you take the first step towards achieving your goals.
3. Free Financial Resilience Workshops
We want to make sure that Singaporeans are equipped with the right tools and knowledge to cope with these difficult times. For people facing reduced income, job losses or other financial stresses, we will be rolling out a series of free group financial resilience workshops.
These workshops will focus on cashflow management and debt management, during which MoneyOwl’s experienced financial literacy trainers will coach and equip participants with the right tools and resources to help them build financial resilience during tough times and prepare for the future.
Do keep a look out on our website as we unveil more details at a later date.