FSM SG charges you platform fees for everything (stocks, equity funds, bond funds). It created a backlash among their community.
Avoid FSM SG at all cost as the platform fees will eat into your profit faster than service charge (platform fees is charged yearly while service charge is charged once)

This is if you want to invest in SG UT.

This post has been edited by Ramjade: Jan 27 2017, 01:14 PM

Bro,... charges in FSM come every quarter, not every year,...

Anyway, there is a promo period now for transferring unit trust hldgs from FSM to POEMS. POEMS will give out $20 to every $10000 worth of unit trust funds transferred to them. There will be the normal terms and conditions to be adhered to.

Every quarter = 4x/year = 0.4% pa.

Agreed.
I was really curious why some long-term investors chose FSM at the other thread… now I understood they were all investing in FSM Malaysia – which was way cheaper than its Singapore counterpart.

And for now POEMS looks more promising for its lower charge too…

Either way I do not have enough money to invest into FSM Singapore, just asking around for more knowledge. Maybe those who invested in FSM Singapore only do it for short terms (~3 years)…

still they charge per quarter not per year

Once poem sg approve, will transfer all global DM fund from fsm my to there, consolidate into one fund

Same here. Still waiting...

Sorry what's meant by that ? Can fsm my fund be transferred to poems Sg ?

No la, means sell off what I have in fsm my on global/dm, restart in poems under one US fund

Okay. Selling is a tough decision. Must only do it when market is quiet.

That sometimes we cannot predict, just know that once the time comes, straight sell and transfer, dont know whether want to do next month rsp on those fund or not

Many of my friends are also transferring their finds from FSM SG to POEMS. They're taking advantage of the promo now,..

I wonder if there is any weakness in holding ALL funds under one distributor. What if something happens to that particular distributor ?

Secondly, what are the weaknesses of holding funds under POEMS compared to FSM SG, besides, of course,... the good part, being no platform fees ?

Is there any concern about long term sustainability issue with the current Poems Sg 0% SC 0 % platform fees ?

Are they paid by the fund houses, that is they get paid via a split on the management fees between fund houses and themselves ?

Good. Hope FSM arrogance with their platform fees will be their downfall and hope they realsie their mistake cand come out with something to compete against POEMS.

The downside if they fall, we all got no place to transfer the to as dollardex, fsm charges platform fees. Dollardex called it "trailer fees" and claim it's not platform fees. But in my opinion, they are too big to fall.

POEMS website is not a well off to do compare to FSM. They don't have the ability to do charts/compare funds (they can but is rather useless). Use FSM to analyse, buy from POEMS

That's what people do. Use platform like DBS V, OCBC, Phillip to analyse the stock, buy from SCB. Save themselves SGD18.

Anyway, I wouldn't worry too much as they are regulated by MAS. If you are really worried, buy from FSM, transfer straight to DBS lo for safe keeping.

This post has been edited by Ramjade: Jan 28 2017, 08:59 AM

I've not heard of any sustainability issues with POEMS,... perhaps we shld scan the net more,...

POEMS website not having enough facilities is not an issue, at least not for me,... I can use other facilities elsewhere in the net.

This 0 % SC and 0'% platform charge is NEW. Previously there is certainly a revenue stream based on SC.

Now everything is 0, where is the revenue stream ? Some more pay for migration from FSM Sg to POEMS !

Unless there is a split from the fund management charge !

Previously was 0.75% SC. Keep in mind that they are doing brokerage business too.

Using the money made from other business entites to subsidize this business ?

They will have to see the businesses to be synergistic to do that !

Looks like the risk that we are seeing here is that POEMS may not be able to sustain for the longer run,...

Well they did say until further notice. I am betting they will charge some stuff once they have enough customers from FSM. Keep in mind that they are one of the well establish broker (almost in the same league as DBS V)

Hmm,... I was thinking too along this line earlier,... but what to do,... at least run away from the one who is charging first,...