Some of you have asked over the months whether I have a referral code to sign up for MoneyOwl’s portfolio or advisory services.
Here is my referral link: My MoneyOwl Referral Promo Code Link
If you use my referral code to sign up for their services, you will be able to get $60 worth of GrabFood credits.
If you sign up for comprehensive financial planning, insurance or investment portfolio individually, you will be able to get S$20 GrabFood credits each. Or if you sign up for all, you will be able to get S$60 in total.
What is MoneyOwl?
MoneyOwl is a fee-based financial adviser and fund management company licensed by the MAS.
This entity is a joint venture between NTUC Enterprise Co-operative Limited and Providend Holding Private Limited.
They prove a one-stop service platform that provides all the widgets for you to create your own financial plan.
They carry different types of term insurance products to protect your wealth and different low-cost, diversified investment portfolios for you to accumulate towards your financial goals and also provide income to spend down during your retirement. You can also write simple wills through MoneyOwl’s online portal.
Most of your interaction with MoneyOwl will be online but the benefit is that if you need to speak to a human adviser, you will be able to clarify certain parts of the insurance and investment products they are recommending.
MoneyOwl is ideal if you have been spooked by insurance and investment managers that push you products that eventually turns out to be not suitable or not very fundamentally sound for you. Their advisers are salaried-based and do not have that strong of an economic bias to sell you products they can earn the highest commissions.
The Investment Performance of MoneyOwl’s Strategic Portfolios
If you are interested to invest passively in a very well-weighted, low-cost, diversified portfolio made up of fundamentally sound unit trust, MoneyOwl has 5 portfolios that fit investors with 5 different risk profiles.
A few months ago, I compared the 8-month performance of some popular Robo-adviser portfolios. This includes the most aggressive MoneyOwl portfolio. You can read the post here.
Currently, the comparison is less than 1 year and this is definitely a wrong timeframe to evaluate whether the portfolios are performing as they should.
From this short period, MoneyOwl’s Equity Portfolio has performed extremely well.
6-months after this post, their portfolio has still maintained its ranking.
MoneyOwl has a very good proposition if you are looking for a platform that has enough tools to structure your financial plan and they might match what you are looking for.
I invested in a diversified portfolio of exchange-traded funds (ETF) and stocks listed in the US, Hong Kong and London.
My preferred broker to trade and custodize my investments is Interactive Brokers. Interactive Brokers allow you to trade in the US, UK, Europe, Singapore, Hong Kong and many other markets. Options as well. There are no minimum monthly charges, very low forex fees for currency exchange, very low commissions for various markets.
To find out more visit Interactive Brokers today.
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I break down my resources according to these topics:
- Building Your Wealth Foundation – If you know and apply these simple financial concepts, your long term wealth should be pretty well managed. Find out what they are
- Active Investing – For active stock investors. My deeper thoughts from my stock investing experience
- Learning about REITs – My Free “Course” on REIT Investing for Beginners and Seasoned Investors
- Dividend Stock Tracker – Track all the common 4-10% yielding dividend stocks in SG
- Free Stock Portfolio Tracking Google Sheets that many love
- Retirement Planning, Financial Independence and Spending down money – My deep dive into how much you need to achieve these, and the different ways you can be financially free
- Providend – Where I currently work doing research. Fee-Only Advisory. No Commissions. Financial Independence Advisers and Retirement Specialists. No charge for the first meeting to understand how it works
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- The Annoying Thing About Potential Frauds in the News. - January 24, 2023