u can checkout US robo advisor performonace and u will know how bad is it

why their algo will not changed to adapt to current situation?
laggard?

how many %?

Thank you for investing with Smartly. We are writing to inform you that we have taken the difficult decision to cease Smartly’s operations in Singapore. As you may know, competition in the digital investment advisory space is intense and maintaining a high service standard on the platform has been challenging. Despite initially contemplating core platform improvements, strategic corporate considerations by our parent company, VinaCapital Group Ltd, ultimately guided our decision.

Smartly is a brand of VCG Partners Pte. Ltd. (“VCG”), which is regulated by the Monetary Authority of Singapore (“MAS”). Accordingly, VCG has notified MAS of its decision to cease Smartly’s operations.

In order to ensure the timely return of your funds, please follow these steps to withdraw your assets:
Login to your Smartly account and select [Transfers] near the top right-hand corner of the screen.
Click on [Withdraw Money] and enter the amount that is available for withdrawal. You will then be prompted to select “Withdraw all” and “Confirm”.
Repeat step 2 above if you have more than one “Goal” (i.e. portfolio).
If this is your first withdrawal, you will be prompted to upload a copy of a recent bank statement, to verify your ownership of the bank account that we have on record. Please note that the funds held in your Smartly account will only be returned to your bank account that we have on record if your ownership of the bank account has been verified. We will not be able to return funds to an unverified bank account.
Afterwards, we are targeting to return related monies to your bank account within 3-6 business days, however, slight delays may occur due to potential high transactions volume.

Please note that if you do not withdraw your assets by 27th April 2020, we will initiate your account closure by the next business day by selling the assets held in your Smartly account. Subsequently, we will return the sale proceeds to your bank account, assuming ownership of your bank account has been verified. Please also note that from 30th June 2020 onwards, you will no longer be able to log in to your Smartly account.

Should you desire to receive digital advice from another service provider, we have reached an agreement with Asia Wealth Platform Pte Ltd (AWP); which has kindly agreed to offer Smartly customers a 50% management fee discount for the first 6 months, up to the first SGD50,000 invested for new customers on its StashAway platform. Please click on this link if you are interested in opening an account to be entitled to this offer, which is valid until the end of April 2020.

Please note in relation to the above special promotion with AWP, VCG is not permitted to give advice on the suitability of any related investment product or market any collective investment scheme as an introducer and AWP is the party giving advice on its Stashaway Platform. VCG may be remunerated by AWP for each referred customer that proceeds to invest on the StashAway Platform. VCG will disclose the amount of the referral remuneration it receives from AWP in respect of your referral if requested by you.

If you have questions about any of the above or another matter(s) relating to your account, please contact us at support@smartly.sg or via telephone at +65 6332 9081 / +65 6332 9084.

Once again, we appreciate the trust you placed in Smartly and wish you continued success as you invest for your future.


Yours sincerely,
Richard Martin, Head of Operations
VCG Partners Pte. Ltd.

How much is SA MY AUM?

They should release those info

Any reason why they can't release?

my concern is low AUM then it will faced the same problem with smartly which is closed shop

u r right
That why AUM figure is important here.
If they r running on low AUM, I doubt they can survive long run.

If SA closed down, its shouldn't be problem in getting back the money
But I need u to think about what if SA portfolio is liquidate in a bad economy shape which mean our portfolio is in red?
I suggest u take a look at SG Smartly case, they closed down during this time which mean those investor portfolio in red will not be able to recover their loss.

Mind u SG Smartly is backup by vietnam deep pocket group VinaCap
https://e27.co/vietnams-vinacapital-acquire...artly-20190717/
https://e27.co/company/vinacapital/

Even with the backer of VinaCap, smartly also faced the consequent of closed shop.

Thing to think at, who is behind SA? Does their backer have the necessary resources to keep SA a float?

dont be so naive
do u think that the etf from smartly can be transfer to SA or syfe?
answer is no way.
https://invest.syfe.com/freshstart/
SA or syfe just offer the smartly client to sell their smartly portfolio and take the proceed to invest with SA or syfe.
Get $10 bonus for minimum $500 invested with Syfe. Get $50 bonus for deposits above $10,000. Maximum bonus of $100 for deposits above $20,000. Valid for first deposit only.

Low AUM = high likelyhood to close shop
Human resource cost + operation cost + rental + utilities + compliance cost
https://www.stashaway.my/about
Do u think how much these guy is making per month? Michele Ferrario , Freddy Lim, Nino Ulsamer, Francis Rozario etc

SA charge fee 0.8% p.a.
10mil * 0.8% p.a. = 80k
100mil * 0.8% p.a. = 800k

Just do the maths and u will agak2 know how much the AUM need to achieved in order for them to survive

It's not about govern by SC or not.
The risk is if SA closed shop, SA will forced sell ur ETF in open market which in this time will not get the best price of the ETF.
In other word, u will get the proceed from SA.
If ur ETF portfolio is red, so from paper loss, u will become realized loss.

Exclude the currency performance.
Take the 36% portfolio for SG and MY for comparison.
Is the performance is same?

If today deposit, tomorrow they will convert and invest?
Since its robot right, dont think the robot need holiday

tomorow us market is open but SA MY is not open that why I asking whether the so called robo advisor will still process the deposit and etf buying

u are on which risk level?

What is ur investment instrument?

How much u DCA per month?

Yes, u can buy SA for minimal and replicate the composition using ur own US broker

seiluan invested 120k