Learn how MoneyOwl will help you lead a financially secure and happy life. Learn more about how MoneyOwl works, services offered, pricing and pros and cons etc.
Regular health check-ups are required for everyone to identify any health issues at an early stage. The popular phrase – “Prevention is better than cure” is more than true for many. Similarly, financial health check-ups are required to lead a financially secure and stress-free life. MoneyOwl, a financial planning platform, does that exactly as it ascertains your financial health and provides various solutions to improve it.
What Is MoneyOwl?
MoneyOwl is an NTUC Social Enterprise that offers comprehensive fee-based financial advisory and planning services. With many financial advisory services available in the market, MoneyOwl is licensed by the Monetary Authority of Singapore (MAS) and helps people make wise financial decisions involving investments, insurance, financial planning and even will writing.
How does the platform Work?
MoneyOwl, a comprehensive financial planning service, assists their clients to reach their financial goals with peace of mind. MoneyOwl advisers will work with you to assess your financial prospects and provide you with actionable financial reports. The MoneyOwl CPF (Comprehensive Financial Planning) process works like:
- Once user’s sign-up with MoneyOwl, they will be asked to create a profile
- The user provides details about their current financial inflow and outflow.
- Based on your input, the Robo-advisor platform has a detailed financial report. That’s not the end of the story, as a financial adviser will call the user to explain the various details provided in the report and clarify any queries they have.
- The MoneyOwl’s CPF Analyzer report will contain every detail about the user’s financial past, present, and future and what to do to lead a happy retirement life etc.
- The financial health report covers various details, including:
- Emergency fund duration
- Savings ratio
- Total debt servicing ratio
- Non-mortgage debt servicing ratio
- Debt-to-asset ratio
- Insurance coverage (in the event of death, disability, major illness etc.)
- Kids College Fee predictions
- Your CPF Balance at the age of 55
- The robo advisor recommends a portfolio and assets based on your risk appetite.
- You can start investing to see how things work.
- MoneyOwl automatically adjusts your portfolio to make sure it is within your risk levels every quarter.
Reasons To Choose MoneyOwl
When it comes to choosing MoneyOwl for your financial planning, it offers various advantages over other services. There are many reasons to choose MoneyOwl from others because:
- It is a MAS licensed financial planning service
- A bionic financial advisory platform that combines the best of both human intelligence and technology
- No commissioned-based advisers, hence they don’t need to hard-sell their services for commissions or perks
- Integration with national schemes like CPF
- Expertly curated insurance plans
- Reliable financial advice
- Strategic projection of your retirement income
Types Of Services or Portfolios
Unlike other financial planning platforms, MoneyOwl offers a host of services, including:
- Comprehensive Financial Planning
- Insurance
- Investment
- Dimensional
- WiseIncome
- WiseSaver
- Wills
- Retirement Planning
Special Programs Offered
MoneyOwl offers various special programs for its users to make informed financial decisions and enjoy happy retirement life.
MoneyOwl Referral Program
With the MoneyOwl Referral Program, users can refer an unlimited number of friends and family members to MoneyOwl and also earn and enjoy rewards together. Referring to a friend is quite easy as all you need to do is send them your unique referral link and you can then ask them to register using that link. Once your friend registers themselves and uses any of the services, then both you and your friend are eligible for a maximum of $60 worth of GrabFood credits. There is also a promotion section offering various promotions for its users.
MoneyOwl Works Programme
The MoneyOwl Works is specially designed to help corporates help their employees do better personal financial planning. It augurs well for both the employees and the business because it is beneficial. While it promises a secure financial future for the employees, it also largely fosters better employer-employee relationships. When employees in an organization have a clear perspective about their financial future, they can easily keep themselves focused and be more effective. Hence, it indirectly increases productivity levels and boosts revenue as well.
MoneyOwl – Pricing
The pricing of the MoneyOwl is far lower when compared to other Robo advisor platforms in the market.
- Investment Fee: For investing in various portfolios, the platform doesn’t charge any fee for the first $10,000 and 0.6% p.a. for S$10,000.01-S$100,000.00 and 0.5% p.a. S$100,000.01 and above. The fee mentioned is only for the Dimensional portfolio. For the pricing for all the portfolios, you can check their website here.
- Insurance Fee: The premium for the insurance depends on the plan you choose. Admin charges are S$26.75
- Will Writing: It is done free of charge.
MoneyOwl doesn’t charge its users with any platform fee as well.
MoneyOwl – Support
The support system is also excellent with MoneyOwl as they offer various channels to allow its customers to get quick support. The website has provided a general phone line to allow customers to call them directly. The main office address is also provided, along with an option to send their queries through a request form. A detailed FAQ with answers for all major functionalities, including Insurance, Investment, Wills etc., are available on their website.
Pros And Cons
Following are the pros and cons of the MoneyOwl Robo Advisory platform –
| Pros | Cons |
| Free Advisory up to S$10,000 | Limited fund portfolio |
| Secure platform | |
| Free Will writing | |
| MAS licensed | |
| Salaried Advisers |
Final Words
With Comprehensive Financial Planning (CPF) services, MoneyOwl is a platform that offers a complete array of financial services even including will writing for free. Being one of the first bionic financial advisory platforms, this makes the best of both worlds. The financial advisory platform enables people to invest cash and their SRS (Supplementary Retirement Scheme) funds.
