MyPF PodCat E00007: How to StashAway Wealth Digitally

MyPF PodCat E00007: How to StashAway Wealth Digitally


Hi everyone. Welcome to PodCat E7 where I will be interviewing Albert Kok from StashAway. It’s an honour to have Albert to be on our show today. Hi Cat, happy to be here today to answer any questions. Could you briefly introduce StashAway? StashAway is a robo advisor. Which is an online wealth management platform. We started in Singapore 2.5 years ago in July 2017 after getting licensed by MAS. We expanded to Malaysia in 2018 after getting licensed by SC. Officially launched in November 2018. StashAway’s purpose is to empower individuals to grow their wealth for the long-term. All this while being cost effective, simple & tailored to your individual needs. How do you view the emergence of new robo advisory platforms in Malaysia? I think it’s a positive step towards what StashAway is trying to achieve… which is to grow your wealth for the long-term. The issue is how can Malaysians access investments that are low cost & individualized. Most investments in Malaysia have a min cost. RM1k? RM10k? It’s not that easy to go into. Nor tailored to your individual needs. For those with money but are not investment savvy… they may be persuaded into buying an unsuitable investment which is not personalized and expensive. With more robo advisors, it helps us to address these pain points. How is StashAway differentiating from competitors? What sets StashAway apart is its framework – ERAA. Economic Regime-based Asset Allocation framework. It monitors economic fundamentals. It looks at valuation of asset classes to make informed & intelligent decisions on asset allocation. It doesn’t react to short term news. ERAA looks at fundamental economic data to make decisions based on where we are in the economic cycle. It’s an intelligent platform we have tailor fit for our customers. Share your top 3 tips for investors to invest with StashAway 1. Identify what goals you’re saving & investing for. Everyone has different goals. E.g. retirement, children’s education, property purchase. Saving is the 1st step. Money will be eroded by inflation over time. You need to invest. This is where StashAway comes in. 2. Don’t try to time the market. Unless you’re an active trader monitoring the market. Buy low & sell high sounds easy but is difficult to do consistently. For example end 2018 where markets were down, active traders mostly sold out of the market. You’d then likely have missed the big rally in early 2019. You need a systematic plan to consistently invest. This can be weekly, monthly, etc. StashAway helps clients invest consistently. We recently launched banking direct debit to seamlessly invest. 3. Invest early. This is the power of compounding. “The 8th wonder of the world” ~Albert Einstein Returns can be reinvested & redeployed to generate further returns. The earlier, the more it compounds. If you wanted RM1m at age 65: From age 25: RM500 only a month. But if delayed from age 35: RM1k needed monthly needed. It’s important to start early! What’s in the future of digital wealth management? The world we live in is increasingly digitally connected. Cinema tix can be purchased on our phone. Food delivery is through an app. Likewise for the wealth management industry going forward. Financial inclusion will be for everybody. You & I will have access at our very fingertips. What is StashAway’s place in the future of wealth management? StashAway’s goal is to empower individuals to grow wealth for the long-term. This is the Fin in FinTech. The Tech part is lowering barriers to entry. The online platform is easily accessible. It’s simple & sophisticated. This is how StashAway will help you as part of the digitization journey going forward. What is the one Big Audacious Habit or Goal you want our audience to take action? Start saving & investing! 1. Go for financial independence. Identify the goals you’re trying to save for. 2. Don’t time the market. 3. Start early. Thanks for watching. Find the shownotes & exclusive MyPF x StashAway promo on our site:

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