Revolut, a global fintech with more than 50 million customers worldwide, has started its robo-advisor service in the Lion City.
Revolut's new product in Singapore is advantageous for customers who don't have the time to do extensive research and actively invest, or have limited or no trading experience, the London-based firm announced on Wednesday in a media release. It will offer a fully diversified and customized portfolio based on the customers’ inputs to questions that will identify amongst others their risk tolerance and financial goals.
The minimum investment amount for Revolut’s Robo-Advisor is $100. To celebrate the launch, users who purchase their Robo-Advisor portfolio before 31 March 2025 can enjoy zero management fees until 30 April 2025. Thereafter, there will be an annual portfolio management fee of 0.75 percent per annum of the portfolio value, charged each month. Robo-Advisor will automatically rebalance customer portfolios based on the performance of the assets within the portfolio and perform periodic reviews to maintain customer risk tolerances and target portfolio allocations.
Rising Cost Environment
Revolut’s Robo-Advisor empowers Singaporeans to grow their finances effortlessly in today’s rising cost environment.
«Built to make investing more accessible, we want to give our customers the ability to make their money work for them in what we believe will be a tailored and stress-free solution. We're now actively working to broaden the range of investment opportunities available through our Robo-Advisor, and to integrate even more financial planning tools,» Raymond Ng, CEO of Revolut Singapore, said.
Revolut has been steadily growing its Wealth & Trading products in Singapore. In May last year, Revolut launched Flexible Accounts, its first interest-bearing product in Singapore. Flexible Account top-ups are invested in USD-denominated Money Market Funds (MMF), managed by global asset manager, Fidelity International.
