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Established in 2015, AutoWealth is a regional robo-advisor that offers investment portfolios tailored to its users’ financial goals and risk appetite. Through a combination of complex algorithm, diversification, strong research and passive investment approach, this Singapore-based automated investment platform is designed to help users attain their projected returns at minimal risks.
Find out more about how AutoWealth works and if it is suitable for you in our review.
How does AutoWealth determine the type of portfolio is best for you?
AutoWealth requires applicants to fill in a goal-setting / risk assessment form to indicate your financial situation, future goals and risk tolerance before you can begin the account signup process. Once the system completes the assessment of your input, its algorithm will then generate a tailored portfolio to maximise the net investment returns based on your input.
Find out what information you’d need to provide and how your customised portfolio will look like:
Select your investment goals, then provide your personal and investment information:
To determine your risk appetite, you’ll need to provide some insights to your investment background/experience, priorities and preferred strategy:
Based on your assessment input, AutoWealth’s algorithms will generate a recommended investment portfolio alongside details such as the projected annualised returns, profit and loss risk percentage, and a detailed breakdown on the asset allocation.
If need be, the recommendation will also show how much more you’ll need for your initial investment sum to reach your financial goals. You’ll also be offered other recommendations such as reducing the size or delay your financial goal or take on an investment portfolio with higher risk.
What asset classes do AutoWealth invest in?
AutoWealth investment portfolios consist of a mixture of both local and globally-listed Equity (Stocks) and Fixed Income (Govt Bonds) across a wide spectrum of industries, ranging from oil and gas to consumer goods. Strong diversification is also attained from Exchange-Traded Funds (ETFs), which are baskets of securities that track an underlying index, listed on the New York Stock Exchange and NASDAQ.
As such, AutoWealth’s investment portfolios are less susceptible to market changes compared to portfolios focused on a particular asset class, region or industry.
According to AutoWealth, the ETFs are selected are based on factors such as:
Direct holding of underlying Bonds or Stocks
Key features of AutoWealth
AutoWealth utilises a host of algorithms and investment strategies based on well-established research to ensure that your projected returns on track.
Here are some of its main features:
Rebalancing is the process of adjusting and re-aligning a portfolio to its target composition by buying and/or selling specific assets in the event whereby significant market changes cause the assets’ market value to rise and deviate from their original intended allocation weightage.
AutoWealth rebalances its investors’ portfolios whenever necessary to ensure that the portfolios maintain a consistent risk profile.
Build a realistic investment plan to help achieve your financial goals in a few simple steps:
Provide your personal information (e.g. age, gender, annual income, net worth)
Choose from a few preset life goals (e.g. saving for a car, start a business, retirement), duration of investment (e.g. 5 years, 10 years, 20 years) and risk appetites (e.g. your investment priorities and actions you’re likely when your investment value dips over 10%).
Depending on your selection, AutoWealth will construct a customised investment portfolio and projections that reflect your goals and risk preferences.
If the portfolio offered does not suit you, simply change up your financial goals in the assessment form and generate a new one or increase your risk level using the green ‘increase my risk level’ or ‘decrease my risk level’ button.
AutoWealths calculates and presents a clear probability of potential profit and loss of a portfolio so that you’ll have a good understanding of how much risk you’ll be exposed to. You may also adjust the ‘Portfolio Risk Level’ and/or ‘Investment Horizon’ to increase or decrease these values.
Increasing your risk level, which ranges from level 1 to 4, will decrease the probability of having your investment portfolio end with a profit. It’ll also increase the percentage of the projected maximum decline in your portfolio value.
Conversely, if you increase your investment horizon, which is the number of years you expect to liquidate your assets, it’ll rise the probability of having your investment portfolio end with a profit.
Start investing with a minimum deposit of $3,000 to maintain the account. If you wish to make a retrieve your funds, simply login to the AutoWealth Platform anytime to submit the withdrawal request.
Besides Singapore dollars (SGD) and US dollars (USD), you may also opt to deposit or withdraw funds in the following currencies:
Australian dollars (AUD)
British pounds (GBP)
Hong Kong dollars (HKD)
Japanese yen (JPY)
Swiss francs (CHF)
To do so, you’ll need to get in touch with AutoWealth at firstname.lastname@example.org.
What research does it provide?
Stay in the loop and learn advanced trading strategies from AutoWealth:
Workshops. AutoWealth frequently organises free workshops dedicated to personal finance and investing courses.
Investment news. Access global overviews and market insights from AutoWealth’s blogs
Types of investment portfolios offered by AutoWealth
StashAway offers three easy types of customisable portfolios for both retail and accredited investors:
Investment Portfolio Profiles
Risk Profile 1: Preservation Portfolio
Projected annualised returns: 4.9%
Priorities capital preservation, along with a small holding of market equity for dividends, capital appreciation and diversification.
High allocation to government bonds (80%) and a small portion to developed market equity (20%)
International Government Bonds (IGOV): 52.5%
U.S. Government Bonds (IEF): 27.5%
U.S. Equity (VTI): 12.3%
Europe Equity (VGK): 4.9%
Asia Pacific Equity (VPL): 2.8%
Risk Profile 2: Conservative Portfolio
Projected annualised returns: 5.5%
The conservative portfolio features a high allocation to government bonds that provides secure regular bond coupons and a relatively smaller allocation to developed market equity that provides dividends & capital appreciation.
Asset allocation: 60% bonds and 40% equity
International Government Bonds (IGOV): 39.4%
U.S. Government Bonds (IEF): 20.6%
U.S. Equity (VTI): 24.6%
Europe Equity (VGK): 9.9%
Asia Pacific Equity (VPL): 5.5%
Risk Profile 3: Balanced Portfolio
Projected annualised returns: 6.2%
The balanced portfolio features a high allocation to developed & emerging market equity that provides dividends & capital appreciation and a relatively smaller allocation to government bonds that provides secure regular bond coupons.
Asset allocation: 40% bonds and 60% equity
International Government Bonds (IGOV): 26.2%
U.S. Government Bonds (IEF): 13.8%
U.S. Equity (VTI): 32.6%
Europe Equity (VGK): 13.1%
Asia Pacific Equity (VPL): 7.4%
Emerging Market Equity (VWO) 6.9%
Risk Profile 4: Long-Term Growth Portfolio
Projected annualised returns: 6.9%
The growth portfolio prioritises long term capital appreciation with a high allocation to developed & emerging market equity that provides dividends & capital appreciation and a small allocation to government bonds that provides secure regular bond coupons & portfolio diversification effect.
Asset allocation: 20% bonds and 80% equity
International Government Bonds (IGOV): 13.1%
U.S. Government Bonds (IEF): 6.9%
U.S. Equity (VTI): 43.5%
Europe Equity (VGK): 17.5%
Asia Pacific Equity (VPL): 9.8%
Emerging Market Equity (VWO) 9.2%
Information based on AutoWealth’s Investment Portfolio Factsheet and accurate at the time of writing, 4 June 2020.
Pricing and fees
To keep its pricing structure transparent and flat, AutoWealth only charges the following:
Management fee: 0.5% p.a
Platform fee: US$18 p.a.
The platform fee remains the same regardless of your investment amount. All transaction and custody fees will also be absorbed by AutoWealth. The fees stated are accurate at the time of writing, 4 June 2020.
Is AutoWealth safe?
AutoWealth holds a Financial Advisors licence (Licence No.: FA100064-1) issued by the Monetary Authority of Singapore (MAS) and is regulated under the Financial Advisors Act.
In accordance with the Financial Advisors Act, AutoWealth safeguards its clients’ funds and portfolio assets by keeping them in a segregated custody account at HSBC through Saxo Capital Markets, away from AutoWealth’s own finances at all times. This is to ensure that its clients enjoy full protection in the unlikely event of the insolvencies of both AutoWealth and Saxo Capital Markets.
Pros and cons
Clear presentation of recommended portfolio. Decide if AutoWealth is suitable for you with a detailed breakdown and overview of the proposed portfolio generated based on your investment goals.
Lower fees for large volume investments. AutoWealth’s fees increase in competitiveness with higher investment amounts (from $5,000 to $20,000) compared to other robo advisors in the market.
Assigned wealth manager. Seek financial advice anytime with your assigned wealth manager through WhatsApp, although response time depends on their availability and may vary.
Personal custody account. AutoWealth takes an extra step to ensure the safety of its clients’ funds by setting up a separate custody account under the individual’s name.
High initial investment amount. AutoWealth requires a minimum investment amount of S$3,000 to start, which is much higher than competitors like StashAway ($0) and Smartly ($50).
No mobile app. Unfortunately, AutoWealth does not have a mobile app for you to manage your money.
Complex account setup procedure AutoWealth’s online application requests for a lot more information than what other robo-advisors typically requires.
Outdated blog. Unlike many of its competitors, AutoWealth doesn’t update its blog with the latest investment news regularly.
How do I apply for an AutoWealth account?
You can apply online for an AutoWealth account if you’re over 18 and not a US citizen/resident. To apply, simply click on the ‘Get Started’ button on the AutoWealth website to begin the sign-up process.
Before you can open an account, you’ll need to complete a goal-setting / risk assessment form. Next, AutoWealth will provide an overview of the recommended investment portfolio which they’ve generated based on your input. If your projected returns are unable to meet the financial goal you’ve set, AutoWealth will also make other recommendations for you to adjust your goals.
After completing the two steps, you may proceed to open your AutoWealth account online or arrange for a financial consultation. When setting up your account, you’re required to provide a substantial amount of data, including personal particulars, employment details, taxation details (if applicable), education and financial information.
Once you’ve done all of the above, you’ll receive an email upon successful creation of your AutoWealth account. However, you’ll still need to follow the verification procedures in the email, which will require a transfer of $0.01 (non-refundable) to the AutoWealth bank account, sending in a front and back photo of your NRIC and e-sign an agreement with Saxo Capital, the custodian of your funds.
Finally, you’ll receive an email with your AutoWealth account login details as well as next steps to complete.
How do I contact AutoWealth support?
If you have any enquiries, you may reach AutoWealth directly through the following contact details:
Customer support: +65 6248 0889
Although AutoWealth imposes a minimum requirement of S$3,000 before you can start investing on its platform, it charges the lowest fees compared to StashAway and Smartly for small-time investors (up to $20,000).
So if you’re just beginning to get your feet wet in investing, a balanced and diversified portfolio that is specially optimised based on your goals seems like a pretty good place to start. In addition, AutoWealth also holds your assets in a personal custodian account under your name instead of a communal one.
You may transfer your funds via the following payment modes:
Do note that due to anti-money laundering laws and regulations, third-party funding will not be accepted. All transfers will have to be made from your own bank accounts.
No, there’s no lock-in period for your AutoWealth investment account. This means that you’re free to make a withdrawal or close your investment account anytime with no penalty cost.
However, do understand that after you’ve submitted your withdrawal request, AutoWealth may take up to a week to liquidate your portfolio assets and transfer the funds to your bank account. Full closure of the investment account may also take up to two weeks.
Unlike traditional investment brokerage, AutoWealth is a robo advisory equipped with an algorithm designed to tailor an ideal portfolio with optimal diversification by investing in securities based on your selected goal, risk appetite and current economic regime. By investing with AutoWealth, you authorise the complete autonomy for the algorithm to make financial decisions on your behalf.
Disclaimer: This information should not be interpreted as an endorsement of futures, stocks, ETFs, CFDs, options or any specific provider, service or offering. It should not be relied upon as investment advice or construed as providing recommendations of any kind. Futures, stocks, ETFs and options trading involves substantial risk of loss and therefore are not appropriate for all investors. Trading CFDs and forex on leverage comes with a higher risk of losing money rapidly. Past performance is not an indication of future results. Consider your own circumstances, and obtain your own advice, before making any trades.
Zyane Tan is an associate editor at Finder. An experienced copywriter and content creator, Zyane enjoys writing on a wide array of subjects. When she’s not busy typing away, she’s reading and musing over a pint.
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