I got this response after asking them many rounds of questions haha. Their first response was got tax then I went Nani?! How you wanna compete then with the other roboadvisors, plus your offerings is ONLY ASNB. They must have scrambled to get their advisory people to give a proper answer haha.

It really does look however that there are no other hidden fees involved. Would really like to hear the rest because I have 6k ready to invest & I believe ASNB will have second life with this new govt in place + economic stimulus.

Can confirm too; this response from Raiz after I keep prodding them for an answer.

Rest assured that the only fees our users will be charge are the account fees at the end of the month, there is no deposit, sales, or withdrawal charge whatsoever. This is what makes Raiz beginner-friendly, we will handle most of the formalities and cost making it easy to invest for our users.

Account got verified this morning, made a request for deposit of RM100 & they already accepted it. Now to see turnaround in investing it. Looks good, 6K dump ahoy. I had an extremely unpleasant & embarrassing experience going to the bank to buy ASNB before. The bank clerk who attended to me did not even put in any effort to enlighten carefully the steps required to get started with ASNB; she was just contented to making me frustrated so that she doesn't wanna file the paperwork.

This post has been edited by frostbyte13: Jun 9 2020, 12:18 PM

I gather because my 1st attempt was trying to buy the limited quantity ASM funds. I'm a self-taught noob, don't know cannot open account without buying units. So I said okay lo, how about buying equity funds? Can you recommend how to get started? She's like eh adik pergi baca sendiri la. Ini nak beli ke tak, bukan untuk Q&A. I got fed-up & left LOL.

The wealth management industry in Malaysia is super-ripe for disruption to take this unpleasant experiences out of the way. BTW, i dumped RM6k in already. Let's see returns after 1 month.

This post has been edited by frostbyte13: Jun 11 2020, 03:54 PM

Believe that to be the case. Raiz is investing on your behalf as an advisor; they absorb whatever fees ASNB would levy traditionally on any prospective buyer. The difference here I believe as to how Raiz can afford to charge such a low management fee (which I suspect for now is predatory to win the market) is because they have a JV through with PNB. This collaboration of technology owner directly with the funds owner allows for a removal of some element of costs that could be attributable to digital optimisation of processes. Who knows (or a sifu can enlighten); maybe the reason why all this while the costs are super high have been due to inefficient practices of fund management.

LOL i've been found out i guess? no la not a sifu, also learning everyday via experimenting. anyways guys got any way to easily track daily ASNS1 & ASNE3 funds prices? Already negative right off the bat with 2% loss lol. I sincerely hope with tracking down the price history its due to unit price sliding & not sales charge being hidden xD

Lol not even <2 weeks in, already bleeding 5% NAV. PNB unit prices are that bad ah? If it's this bad I'm gonna exit now & just reinvest into other Roboadvisors lol

It was too slow moving in the end for me which I felt my 6K had a better opportunity to perform in SA & which I was glad I did because it appreciated significantly.

I will increase my Malaysia exposure with Wahed but this is to me a good enough option if opening an account with ASNB is torture like it was for me.