StashAway is a digital wealth management platform, set up with a vision to empower people to invest their money intelligently via a single, cost effective, platform.
Michele Ferrario and his two co-founders set up StashAway in 2016 in Singapore, received their CMS licence from the MAS earlier this year 2017, and began offering services to the public a few months ago.
Ferrario suggests that his company’s target audience is the mass affluent customer with anywhere between USD 100,000 to USD 1 million in financial wealth. However, he reveals that the company has seen a lot of smaller investors join the platform also.
The firm’s sophisticated investment framework has also piqued the interest of some Ultra High Net Worth individuals and family offices who have reached out to Ferrario.
StashAway’s proposition is a simple platform that is sophisticated, intelligent, and cost effective.
The firm charge only 0.8% per annum for portfolios below USD 25,000, and as that figure crosses the million-dollar mark, charges drop to about 0.2%. Ferrario states that there are no hidden fees.
The firm’s key focus is not security selection, but building portfolios that are optimised for today’s economy using ETFs across asset classes.
In the coming year, the firm hopes to gain more clients and build trust with existing users, and aspires to offer services in additional markets.