FSM MAPS - Unpacking Singapore's Robo-Advisory and Investment Platforms
Disclaimer: The following content is provided for informational purposes only and should not be construed as financial advice. Consult with a financial professional before making any investment decisions.
Following our previous discourse in June 2020, we now turn our focus to iFast’s MAPS platform, otherwise known as FSM MAPS.
FSM MAPS: A Detailed Review
In a Nutshell: Presently my top pick. Provides excellent, complimentary research that promotes trust and professionalism. It’s highly diversified and boasts decent returns up to the present. It’s robustness leaves many comparable fee-based startups and robo-services seeming rudimentary.
Navigating the Paperwork
- Slightly above-average requirements, but practical.
- Adheres strictly to their own timelines.
- Requires proof of residence, after which you will receive access codes via mail—generally a week-long process.
- User experience rating: 4/5
- Instills a sense of trust and professionalism.
- Charges relatively low fees.
- MAPS portfolios are completely automated.
- Offers substantial diversification.
- Account panel provides full transparency into your holdings.
- Quarterly reports and annual outlook statements are published to justify their decision-making process.
- Monthly e-statements detail the transactions made on your behalf.
- Funds transfers from a Singaporean bank account are almost instantaneous.
- Supports lump-sum or Regular Savings Plan (RSP) investments, enabling dollar-cost averaging.
- More advanced platforms are available for self-directed investing outside of MAPS, notably SaxoTraderGo.
- The platform/Account panel may come across as a bit complex.
- Operates as a custodian, similar to many other platforms.