The company unveiled plans to roll out this integrated platform service in March this year, with advisers having the ability to use tools and services offered through Wealth Interactive to undertake goal planning, risk profiling, portfolio building, monitoring and review processes online.
The new Flexible Investment Account, which is only available through financial advisers, is an online investment bond that allows lump sums, regular premiums and ad hoc investments, subject to the initial investment totalling $60,000 or equivalent.
The account offers a wide range of currencies and access to hundreds of Monetary Authority of Singapore (MAS) authorised or recognised assets to build portfolios that match personal investment objectives. Withdrawals can be made at any stage, free of charge, either as lump sums or as regular payments at a choice of intervals to suit individual needs.
Other features include no fixed investment term or maximum limits on contributions and a choice of charging structures enabling clients to pay fees either up front or over a set term – depending on their individual needs and preferences.
Michelle Andrews, commercial director at Skandia International said: “From the research conducted before we embarked on the build of ‘Wealth Interactive’, we have learnt that both customers and advisers expect savings and investment product providers to be easier to deal with. In response to this feedback, we are enhancing our proposition by introducing an innovative online product – the Flexible Investment Account, to complement our existing offering in Singapore. Powered by ‘Wealth Interactive’, it will provide the much sought control and flexibility online”.
