Fintech firm Revolut has launched its robo-advisory service in Singapore, enabling investors to reduce time and automate investments.
The new service questions investors on their risk tolerance and financial goals and once they deposit cash into their portfolio, it is automatically invested appropriately in the market and is monitored continually.
The minimum investment amount for Revolut’s new robo-advisory service is $100. Investors can add to their portfolio through a feature called spare change round-ups, which means that every time a transaction with a Revolut debit card is made, it is automatically rounded up and the difference flows into the robo-advisory portfolio.
There is an annual portfolio management fee of 0.75% per annum, charged monthly.
“We are excited to add a robo-adviser to our existing suite of wealth and trading products. We know that many of our customers do not have the time to manage a portfolio or invest in individual securities,” said Raymond Ng, chief executive officer of Revolut Singapore.
“Built to make investing more accessible, we want to give our customers the ability to make their money work for them in what we believe will be a tailored and stress-free solution. We’re now actively working to broaden the range of investment opportunities available through our robo-adviser and to integrate even more financial planning tools.”
Revolut has been growing its wealth footprint in Singapore. In May last year, it launched Flexible Accounts, its first interest-bearing product in Singapore.
