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The adventures of MoneyOwl x Smart Ass
Instead of buying things to show your love for your kids, how about investing for their future by starting a Joint Investment Account at MoneyOwl? This way, you can have a fund that grows as you see your kids grow up. It’s a wiser way to show your love and care for them.
A Joint Investment Account can be opened for any of MoneyOwl’s investment products (excluding SRS, CPF monies) with a minor (under 18 years old) or an adult.
Start investing from as low as $50 per month
With the power of compounding, you can grow your wealth over time.
Multi-asset portfolio with broad sources of returns for sustainable income
The fund allocation consists of global equities, S-REITs, Asian Bonds and government securities.
Low fund-level fees, no sales charges and hidden trailer commissions
We keep the costs low for you so that you can invest the extra dollars and build your wealth.
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Explore the portfolio options that best suit your investment goals.
Dimensional
Enjoy long-term capital growth by harnessing the power of markets through evidence-based portfolios.
WiseSaver
Park your spare cash in a savings fund that offers a higher interest rate than fixed deposits, offering liquidity with no lock-in period.
WiseIncome
Receive a stream of passive income for the long term, with potential capital appreciation.
No. Only cash can be used for Joint Investment Accounts.
No. A Joint Investment Account is only available between two parties.
Yes, you can open multiple Joint Investment Accounts with the same or different party for your different investment goals.
You will not be able to convert from an existing Personal Investment Account to a Joint Investment Account. You will need to set up a separate Joint Investment Account. Alternatively, you can redeem all investment holdings in your Personal Investment Account and invest the proceeds into your Joint Investment Account.
Yes. The minor will need to be the secondary holder. We will only take investment instructions from the primary holder.
The primary holder is required to open a MoneyOwl Account and Personal Investment Account. Please prepare the minor’s birth certificate/NRIC or passport (foreigners). These documents are required for the Joint Investment Account opening.
It is a pre-requisite for both parties to set up your MoneyOwl user account and Personal Investment Account before opening your Joint Investment account. You will need to decide who will be the primary and secondary holder for the Joint Investment Account. The primary account holder will initiate the Joint Investment Account opening process. For primary holder:
For secondary holder: Log in to your MoneyOwl Account and accept the invitation for the Joint Investment Account to start investing. Please note that it is a pre-requisite to have set-up a MoneyOwl user account and a personal investment portfolio.
Both account holders have equal access to submit buy or sell requests, editing the transaction (e.g., monthly investment amount). The other party will be notified when the request was submitted.
No. The other party will only be able to access the joint investment account between the two of you.
Yes. As long as the primary holder of the joint investment account is the bank account holder. In the case of joint bank accounts, the primary holder of the joint investment account must be one of the joint bank account holders.
Please note that you will not be able to perform cash account transfers out of your Joint Investment Account. Please email inv_ops@moneyowl.com.sg if you wish to perform cash account transfers into your Joint Investment Account.
Your Joint Investment Account application will expire after seven calendar days. You will need to re-submit the application.
Both account holders will be notified and the application will be voided. The primary holder will need to re-submit the application.
You will not be able to change your portfolio. You will need to withdraw and re-submit the application again.
You will not be able to change to another portfolio. You may decline the invitation, and inform the primary holder to re-submit the application and invitation.
Upon death of either party, the surviving party will need to provide us with the death certificate. If the surviving party is a minor, the legal guardian of the minor is required to provide his NRIC, death certificate and power of attorney. If the surviving minor does not have a legal guardian, he will not have access to the investment holdings until he turns 18 years old.
To keep the investment, the surviving party will be required to open a new investment account. The assets are then transferred to the new investment account.
To sell off the investments, there is no need to open a new investment account. The joint investment account will be turned into the estate of the deceased and subsequently sold off under the instruction of the surviving party.
The surviving party or legal guardian of the surviving minor shall indemnify us and iFAST in respect of any claim which may be made against as a result of complying with the surviving person or legal guardian’s instructions.
The Joint Investment Account will remain as it is. Should you wish for your child to take over the portfolio when he is above 18 years old, he would need to set up his own personal investment portfolio. You will have to redeem the joint investment portfolio. The proceeds will have to be invested into your child’s personal investment portfolio.
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