Here comes another brokerage in Singapore – Futu Holdings and under the Singapore name “MooMoo”? Sounds kind of fishy but legit.
From their website:
Their investors include Tencent Holdings, Matrix Partners and Sequoia Capital. Sounds decent to me.
Futu Holdings Limited (“Futu”) （NASDAQ: FUTU）is an advanced technology company transforming the investing experience by offering a fully digitized brokerage and wealth management platform .
Futu was listed on Nasdaq on March 8, 2019.
Under MooMoo, they are under the Singapore branch, https://www.moomoo.com/ and from time to time they will run a promotion to fund the brokerage account to get 1 Apple share. Although after setting up the brokerage, maybe buying Futu stocks in the US stock exchange might be a good idea given their backing.
After Tiger brokers, here come another commission free brokerage mobile platform with similar functions and good promotions. It seems like the apple share promotion has ended. If you wish to sign up for those commission free perks and/or future promotions, do use my referral code here: https://j.moomoo.com/004Fsa
Currently, the promotion would run for 600 days free commissions.
Also if you fund USD 2k equivalent. there is a USD30 credit.
Something interesting came in my way last week. I managed to speak with the General Manager of Wellnex (Link here if you are interested to find out – https://www.wellnex-singapore.com/) and My-insurer. (Link here – https://www.my-insurer.net/) They are in the field of Insurtech field – Insurance Technology. (Something that works differently as compared to the traditional agents who sells you an insurance) I’ll say that they are more of a 99.co or property guru in Insurance style but with a tad more zest as all interactions and details are done digitally so it is as good as meeting the customer face to face. Given current Covid situation, I’m not sure if I want to meet anyone face to face for a 2-3 hour chat about personal finance.
It isn’t a sponsored post. I’m very strict with the way things are being done regarding a sponsored post. As the way it is, I’m happy to write and type whatever my views are and trash whatever I find is trashy. In any case, my-insurer has a separate wellnex platform – which is more of a deals, news, more information kind of portal where businesses and writers can create and post articles.
The Wellnex Interface
Sometime last week, i received an email from them stating that they have achieved the Trust-mark for Data Protection so you can be sure that there is a standard or ISO for dealing and protection the data that you store with them. I’ll say that is a good job considering that they hold key to agents and customer data.
What I really do like about them is that, they have no requirement for me to have at least one post per week or anything of that sort. There isn’t a fee that they pay to me or I need to pay them for using their application to post articles as they wish to stay neutral and free from conflict of interest. That is respectable for a business who work on that ethics. Not many companies are true to what they preach.
Help one another / Refer a good deal
If you own a company or wish to share some deals, do reach out to these folks out there. Perhaps, they can add more marketing value for space or reach or impressions as the marketing guys call it. After all, the idea is to get what you have out there so people know and talks about it.
The whole idea that I wish to do is to create a space where people enjoy reading articles about finance. Perhaps, get them excited about finding out what is out there. What is the current trend? Sometimes, even finding a good deal or good idea will come back. Though I did not start out as early as so many other bloggers did, it is never too late.
Eventually, finding out and working together as online bloggers is something I wish to build in the community. I started out reading financial blogs for many years. In the process, I procrastinated about building one as it takes up too much time. However, the circuit breaker forced me to take on something that I have put off for many years. I hope I will grow my project to a sizable one in the near future.
These are just solely opinions of mine. Different people have different needs, requirement, financial situation and views. For me, this is what I would do if I would like to build my blog. The main aim to to get more viewership and subscribers to keep the lights running.
We are definitely not going anywhere to travel for a prolonged period at this point in time. I would not advise anyone to as well so we probably have to Rediscover Singapore as what our Deputy PM and Finance Minister said. To a certain extent, I kind of like that idea. Singapore is small but there are stuff you can really explore. To put things to perspective, If you have an overseas friend who asks you what can they do when they come over to Singapore. (Zoo? Safari? Flyer?) I think we have more interesting stuff to do other than those.
Speaking of which, Sentosa has been trying to complete a face lift since like aeons ago and they are introducing free entry to the island.
Free NDP Tokens
You can register for the free tokens at https://ndp2020.sentosa.com.sg/ as long as you are a local or resident in Singapore. Every registered household can only redeem two Sentosa Fun Passes. (loaded with 10 tokens) That is not too bad for a family day out.
Once you have successfully registered for the free tokens, a registration confirmation email will be sent to your registered email address. Redemption can be done at Sentosa Ticketing Counters which you have to indicate when you register online.
Things to bring
It is a little troublesome but you need to select a date when you would like to go Sentosa but at the same time, you can edit/cancel the date. You also need to redeem from a member of the household – with proof of residency. So, do bring along the original form of identification and confirmation email for verification.
MoneyOwl is an initative from NTUC Social Enterprise. They are sort of a Robo-advisor coupled with a suite of wealth planning tools such as will writing and insurance solutions. What really attracted me is their rather simple way of investing and using Dimension Funds as part of their portfolio construction.
As a retail investor, you will most likely not be able to access such funds. When the market tanked sometime in Feb 2020, I picked a few Robo-advisor to invest into and look into performance a few months later. Almost six months has passed now and I will most likely show some of the performance in my later posts but I must say, by doing nothing much, all advisors reported positive returns as compared to my own stock picking.
Changes to MoneyOwl
Recently, MoneyOwl announced that they have lowered their investment advisory fees as well as absorbing the platform fees.
a. For Asset under management S$10,000 and below, there will not be any fees through 31 December 2021. This fee will be rebated back to the portfolio. So take note that only Cash investments are eligible for this rebate. The cash management accounts do not have these in place and your total portfolio value has to be above S$50.
b. There is an introduction fee of S$99 which is worth about S$535 for a comprehensive Financial Planning. Money Owl’s advisors will sit down with you to review your portfolio with detailed report and recommended next course of action. (~2 hours)
c. Additionally, they are introducing free financial resilience workshops to focus on cash flow management and debt management. Likely through Webinars and anyone can join in.
It is nice to see that as a partner to our national social enterprise, they are making moves to help Singaporeans. The reduced fees on investments which is one of the key points in long term investments. The more fees you pay, the more it affects your own portfolio performance.
However, they should really look into improving the interface. (for e.g. making it into an app) They also introduced a referral fee scheme or some promotional fee scheme for new sign ups. Not much complains other than that.
This is not a sponsored post. This is purely my own opinion after using their service and/or products. If you like what you are seeing, do remember to check they out and do your diligence. There is no one size fits all investment strategy.
There is an ongoing promotion for National Day 2020. That is a one-year complimentary membership for Gallery Insider. It is really good to see companies doing their part to make art and increase activities locally.
National Gallery Insider
From the Gallery Insider (link here: https://www.nationalgallery.sg/support/join/membership) – This Gallery Insider is an annual membership programme. Insiders get unlimited access to their dynamic line-up of exhibitions, as well as privileges and discounts for selected programmes. You can also get unique museum merchandise and the Gallery’s culinary offerings at a discount. This sounds really good as it is a great time to explore such options now. Travelling is definitely not available in the near term. However it is not all doom and gloom. There are other things to do and appreciate in Singapore.
Click here at https://www.nationalgallery.sg/support/join/membership to get your FREE ONE Year Gallery Insider membership. This is worth up to $120 in value from unlimited and priority access to all exhibitions. There is a bonus perk of up to 15% discounts on dining and shopping. This is pretty decent.
This Free perk will end on 31 October 2020 so get it as soon as possible. Don’t forget you need to be there physically to activate your membership before October 2020.
However do note that this is for Singaporeans and Singapore PRs. Time to explore Singapore. It is not a sponsored post but I find this a great initiative and also a good way to find out more about Singapore.