‘Flat-fee’ investment products may flatten your returns
Some robo-adviser investments may turn out to be high-cost traps
Fintech innovation has been an undisputed driving force behind lowering fees and improving customer experience in the financial industry for quite some time, but consumers need to be on high alert for “disrupter” investment products that may, on scrutiny, be high-fee traps in the guise of low-fee fintech.
Sygnia was a front-runner in the SA market when we introduced the original robo-adviser in May 2016 — an algorithm-driven financial planning service that requires little to no human supervision. We recently launched a simplified version that uses the same parameters to create a personalised plan for each user, while simultaneously reducing completion time and improving ease of use. We’re not the only ones; several other asset managers now also offer digital investment platforms...
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