Fewer than 40% of investors in Singapore expressed a high level of trust for the financial services industry, but 60% of eligible investors believe the state-sponsored pension program will pay out benefits as promised. In addition, just half of investors are worried about an impending financial crisis within the next three years.
There is confidence and trust in the system, so it is not surprising that about 7 in 10 investors in Singapore believe they have a fair opportunity to profit by investing in capital markets.
About half of investors continue to value access to technology over people to manage their investments and 40% trust human advice equal to that from a robo-adviser. Considering the interest in technology, it is surprising that only a third of investors in Singapore said they were willing to invest in a fund that used artificial intelligence for its selection process. This indicates an openness for technology-based investment solutions but caution for ideas that have yet to be vetted by the market.
When looking to hire a firm, investors in Singapore are almost split between preferring people they can count on or a trusted brand. When changing investment professional or firm, investors’ top considerations are the level of performance, fees, and communication. Although a vast majority of investors want more personalized products, only about half would be willing to pay more for them.