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Comprehensive

Comprehensive

If you wish to close your MoneyOwl account and remove all your data on it, you can do so by dropping a request through enquiries@moneyowl.com.sg. Our customer service will be in touch with you to facilitate the process.

Comprehensive

Your privacy is our priority. We do not sell or refer your personal information to a third party. MoneyOwl’s platform is built by an experienced technology team led by our very own Chief Technology Officer, undergoes rigorous penetration testing and meets technology risk management guidelines set by MAS to ensure highest security and data protection, so that you can have peace of mind. Our risk management processes are also ISO27001 certified.

Comprehensive

No, as work has been carried out to provide the service. Nonetheless, your feedback is important to us. If you are dissatisfied with our service, we will certainly appreciate your time to let us know how we can improve our service.

Comprehensive

It depends. Please refer to the respective FAQs for more information.

Insurance

There is no additional fee for insurance implementation. On the contrary, for every eligible insurance policy you purchase with MoneyOwl, we will rebate you, up to 50% of the first-year basic commission, except the following:

  • Integrated Shield Plans
  • ElderShield Supplements
  • Plans using CPF monies

It helps to lower your cost of insurance.

Investment

We do not charge any upfront sales charge (typically 1% to 2% in the industry) for investing into MoneyOwl’s investment portfolio.

Refer to https://www.moneyowl.com.sg/pricing/ for more details.

Will Writing

MoneyOwl’s will writing service is valued at $160.50 (including GST) per user. For a limited period of time, we are offering it for free.

Comprehensive

1. Payment via PayNow (Scan QR code)

Pay by scanning or saving this QR Code to your bank’s PayNow option

IMPORTANT! You MUST indicate your Registered Mobile Number as Payment Description in the “Remarks / Descriptions / Comments” to ensure that you receive your report. Please email clientsupport@moneyowl.com.sg if you have not done so.

2. Payment via PayNow (Apply transfer details below)

Pay by entering transfer details to your bank’s PayNow option

IMPORTANT! You MUST indicate your Registered Mobile Number as Payment Description in the “Remarks / Descriptions / Comments” to ensure that you receive your report. Please email clientsupport@moneyowl.com.sg if you have not done so.

Unique Entity Number (UEN): 201820691C

Entity Name: MONEYOWL PRIVATE LIMITED

3. Payment via Bank Transfer

Pay by entering transfer details to your bank’s transfer option

IMPORTANT! You MUST indicate your Registered Mobile Number as Payment Description in the “Remarks / Descriptions / Comments” to ensure that you receive your report. Please email clientsupport@moneyowl.com.sg if you have not done so.

Recipient’s Name: MoneyOwl Pte Ltd

Bank Name: DBS Bank Limited

Bank Account No.: 072-001715-3

Comprehensive

We believe in providing you with independent, conflict-free financial advice that is founded on sound financial planning philosophy coupled with fit-for-purpose solutions. These services require your client adviser to spend sufficient time to understand your financial situation, go through the report with you face to face and help you to prioritise between your goals, amongst others.

A fee-based model, whilst uncommon in Singapore, is not unique to the rest of the world. In the US and Australia, financial planning services are offered mostly on fee-based model as it has been proven to provide best value to its clients since financial advisers are remunerated based on their professionalism and quality of work done for you, and not by the products you procure from them. This assures you that your client adviser is always on the lookout for your best interest.

Comprehensive

No, there is no requirement.

Typically, in a Comprehensive Financial Planning report, there will be a recommended action plan for you to meet your financial goals like retirement and children’s education funding or close any protection gap. It will be beneficial for you to discuss these recommendations and, if necessary, customise it further accordingly to your priority and budget.

Comprehensive

Your comprehensive financial planning account will be locked after you submit your inputs so that the system can generate your report for you. Should you wish to unlock it to revise your inputs, please contact your client adviser or drop an email to enquiries@moneyowl.com.sg. You can generate as many versions of the report as you want so long as it is based on your personal particulars.

Comprehensive

MoneyOwl Comprehensive Financial Planning benefits you with a holistic view of your financial situation and goals and a roadmap to achieve it, through the efficiency and convenience of technology and the competency and empathy of a trusted human adviser.

Step 1: Create a MoneyOwl account

Step 2: Guided factfinding journey (about 20mins)

  • Provide information on personal profile, finances, insurance needs, children education and retirement aspirations.
  • If you need more time to gather information, you can always save and come back again.

Step 3: Submit your inputs and make payment for Comprehensive Financial Planning fee

  • After submission and payment, a customised comprehensive financial report will be prepared and emailed to you within 3 business days by your assigned client adviser. Your client adviser may also contact you to clarify your inputs. The report includes:

  1. Your Cashflow statement
  2. Net Worth Statement
  3. Financial Health Check
  4. Analysis of insurance needs and gaps
  5. Analysis of your provision for child’s education funding (if applicable)
  6. Analysis of your retirement income at your desired retirement age and throughout retirement period
  7. Scenarios of how your retirement can improve by increasing funding, moderating children’s education funding (if applicable) or delaying retirement
  8. Analysis and recommendation from MoneyOwl’s proprietary CPF Analyser Tool for in-depth understanding on how you can optimise your CPF for your retirement funding.
  9. Summary of Action Plan
  10. Specific recommendation for insurance to close gap
  11. Specific recommendation for investment to close gap

Step 4: Consultation session with our client adviser at our office (23 Keong Saik Road, S089130).

This should typically take about 2 hours. In this session, your client advisers will clarify any questions you may have on your Comprehensive Financial Planning report, highlight areas you should pay attention to, and recommend an action plan to kickstart your journey to achieve your goals.

Step 5: Implementation of action plan when you are ready to begin.

Comprehensive

Currently, our planning approach is on individual basis. For planning as a couple, each member can create his or her own Comprehensive Financial plans and the client adviser can advise them in the same meeting session.