KUCHING: StashAway, a robo-advisor headquartered in Singapore, has made available its services in Malaysia.
StashAway delivers an intelligent, data-driven asset allocation investment strategy with no minimum balance, no sales charge, annual management fees between just 0.2 and 0.8 per cent, and flexible deposits and withdrawals.
The platform is currently being rolled out to people who have signed up for the wait-list, and the company plans to open up access to the public by early November. The platform is accessible at www.stashaway.my, and on the Google Play Store and the App Store.
On Malaysia’s readiness for a robo-advisor available to investors of all net worths, StashAway Malaysia Country manager, Wong Wai Ken shares, “We’ve seen what’s been happening in the investment space in countries around the world, and by now, we expect these low-cost, convenient, transparent, and sophisticated investment options to be available to us. Over-priced, inconvenient and one-size-fits-all Unit Trusts and Investment Linked Policies don’t cut it anymore.
“Malaysia’s population is growing and life expectancy is increasing; we need investment solutions that enable us to manage our growing wealth better.”
Co-founder and Group CEO, Michele Ferrario, describes the value proposition for customers to put to work their money: “When you think about how 43 per cent of gross financial assets in Malaysia are in bank deposits, it’s clear that current investment options aren’t doing their jobs of enabling Malaysians to build their long-term wealth through intelligent investing.
“This huge amount of wealth sitting in cash proves that the financial services industry has failed thus far to equip Malaysians with the right investment tools.”
In May 2017, the Malaysian Securities Commission introduced the Digital Investment License Framework, as part of its “digital agenda for the capital market, aiming to provide investors with a more convenient, affordable and accessible channel to manage and grow their wealth.
StashAway personalises financial advice and portfolio management with its advanced, propriety investment framework, ERAA (Economic Regime-based Asset Allocation) for both retail and accredited investors. ERAA combines a comprehensive risk management strategy with a macroeconomic data-driven asset allocation strategy.