Endowus Review: Best for CPF investing?

TL;DR

• Endowus is the only Singaporean robo-advisor that allows you to invest using your CPF-OA funds.
• Endowus has a wide range of products, provides access to funds at competitive fees, and its platform is user-friendly.
• However, the initial investment of $1,000 is higher than most other robo-advisors and it has a longer withdrawal period compared to direct stock investments
• Annual management fee ranges from 0.15% to 0.60% per annum + GST

What Happened? 

Amongst the robo-advisors in Singapore, Endowus has certainly made a name for itself, thanks to those MRT ads featuring actress Joanne Peh and influencer Benjamin Kheng, among other famous faces.  

Their messaging is simple: Endowus isn’t just here to manage your money, they want to be your trusted partner on your wealth journey. Even big names trust them!

And it seems the message has resonated. Since its founding in 2017, this Singapore-based company has grown its group assets under management to more than US$7 billion as of December 2024. 

But slick marketing aside, what’s really going on under the hood of this shiny car, so to speak?

To find out, I took the platform for a spin to see if it could be the right robo-advisor for me.

In this article, I’ll cover the platform’s features, what I like about the platform, and what I think can be improved. 

What I like about Endowus

#1 Good range of products

Unlike some robo-advisors that build their portfolios exclusively with ETFs, Endowus partners with established fund managers like PIMCO, Schroders, and Dimensional Fund Advisors to offer a range of investment solutions tailored to different risk profiles and investment objectives. 

These funds cover a range of asset classes such as equities, fixed income, multi-asset, commodities, cash/money market, hedge funds, private equities and alternatives. 

Besides its managed portfolios, Endowus also allows you to invest in funds directly. 

These funds are typically more costly to access via traditional mediums, but Endowus aims to offer you access at a lower cost. As Samuel Rhee, the CEO of Endowus explains:

Endowus also offers a cash management solution called Cash Smart, which is designed to optimise the returns on idle cash while providing liquidity and flexibility to investors.

Cash Smart aims to provide an alternative to traditional savings accounts by offering higher interest rates across three different portfolios: Secure, Enhanced, and Ultra.

#2 – Invest using CPF and SRS funds

You also have the option to invest your CPF OA or SRS funds in a broad-based global market index fund at relatively low cost with Endowus

So far, Endowus is the only robo-advisor platform in Singapore that allows you to invest your CPF OA through the CPF Investment Scheme. 

All you need to do is to open a CPF Investment Account and link it to your Endowus account. 

#3 – Competitive fees

The fees charged by Endowus are competitive with other robo-advisors like StashAway and Syfe.

If you invest using cash, the fee structure is as follows:

For a full breakdown of their fees, you may refer to the table below:

It might be worth noting that the fees are subject to a 9% goods and service tax (GST) charge.

So if you are invested in a mulit-fund portfolio with a value of S$10,000, you would be charged a total fee of S$65.40, of which $60 is the annual management fee, and $5.40 is the GST charge. 

#4 Ease of use

Endowus’ platform is fairly intuitive and easy to use. Even a beginner investor can navigate the app (there’s both web and mobile) to open a portfolio, deposit or withdraw funds with ease.

You can also set up recurring investments on a schedule that suits you: weekly, bi-monthly, or monthly basis. 

With eGIRO available, the deposit process is automated for time-strapped investors or those struggling to maintain a consistent dollar cost averaging habit. 

What’s more, automating your investments also helps you avoid the pitfalls of emotional investing. Reacting to market fluctuations often leads to impulsive decisions, but a recurring investment plan takes emotions out of the equation, keeping your financial goals on track. 

Finally, there is no lock-up period so you can withdraw your investments either partially or completely at any point in time.

#5 - Regulated by the MAS

Some of you may be wondering - Is Endowus safe? Can Endowus be trusted?

Endowus hold a Capital Markets Services License, and is regulated by the Monetary Authority of Singapore. 

Note that when you register an account with Endowus, they will create a trust account in your name at UOB Kay Hian which will hold your assets.

This would mean that you will not be forced to liquidate your holdings in any circumstance since your assets are held in a trust account with UOB as custodian.

What users may dislike about Endowus

#1 - Minimum initial investment of $1,000

Getting started with Endowus requires an initial investment of at least $1,000, which might feel like a steep entry point for investors with limited capital. 

After that, any additional top-ups must be at least $100 per transaction.

While these requirements are manageable for some, they do stand out compared to other robo-advisors, many of which don’t impose such minimums. 

For younger investors or those just starting their financial journey, this could be a barrier to entry and might make Endowus less accessible for those with smaller budgets

#2 - Relatively slow withdrawal periods

Investors may experience longer withdrawal periods compared to stock trading platforms. This would include withdrawals from its Cash Smart solutions.

Typically you can withdraw from your DIY stock portfolios 2 business days after selling your stocks. With robo-advisors like Endowus, you can expect funds to be in your account between 2 to 5 business days after liquidating your portfolio. 

As such, investors should consider their liquidity needs and whether they would need to use their funds for emergency purposes. 

What’s the final verdict on Endowus?

For me, the biggest draw is the unique ability for Singapore investors to put their CPF OA funds to work, something no other robo-advisor currently offers. 

With CPF OA savings earning just 2.5% annually, Endowus provides a low-fee, passive investing option for those looking to enhance their retirement savings. 

Beyond that, Endowus has competitive fees and a broad range of investment products for the everyday retail investor. 

The option to invest in funds directly through the platform (something, again, not offered by other robo-advisors) adds another layer of flexibility for those who want more control over where they invest their cash, SRS, or CPF-OA. 

In line with their ad campaigns, Endowus also seems to be making good on their commitment as a trusted partner in your wealth journey. 

Through regular webinars and educational content, they emphasise the importance of viewing investing as a long-term play rather than chasing short-term gains. 

This philosophy is also reflected in their managed portfolios, which follow an evidence-based passive investment strategy. 

So it's important for investors to recognise that with Endowus, and, indeed, with any robo-advisor, the true benefits of your investments materialise only when you give them the time to compound over the long term. 

Compare Endowus with other platforms to find the best robo-advisor in Singapore here. 

Step-by-step guide to start investing using Endowus

It’s simple to invest your CPF with Endowus by following the following steps. 

1. Create an Endowus account
2. Select a suitable Endowus portfolio or fund(s) that meet your needs.
3. Create a CPF Investment Account (CPFIA) with any of the 3 local banks (DBS, OCBC, UOB).
4. Link the CPFIA to Endowus when prompted.

To help you get a headstart in your retirement planning, Endowus is offering a promotional $28 off Endowus’ access fee for new users this Chinese New Year. 

Sign up using this link to claim this special offer now.