This is follow up to my earlier post on Automating Your Investments with FSMOne.

My FSMOne RSP is fully set up now. Took a while because the eGIRO (eDDA) update is only processed on the 13th of each month. So, this month I still had to manually deposit funds.

Going forward every month, FSMOne will automatically debit SGD1,000 from my bank account and buy the following ETFs:

  • Vanguard Total World Stock ETF (NYSE: VT) – SGD750/mth [read my review of VT here]
  • ARK Innovation ETF (NYSE: ARKK) – SGD150/mth
  • Lion-OCBC Securities Hang Seng Tech ETF (SGX: HST) – SGD100/mth [read my review of HST here]

Orders

Screenshots of completed RSP orders from FSMOne app:

This month, the cash deduction was done on 8 May and received on 10 May. Orders were placed the same day 10 May, and settled on 12 May. The next deduction is scheduled for 8 June, but the actual order/settlement dates will be a few days later.

Only RSP for HST attracted a total fee of SGD0.41, and no fees were charged for the other 2 RSP for VT and ARKK. This is because FSMOne has waived the processing fees for ETF RSP until 8 Dec 2022.

If you’re interested to sign up for a FSMOne account, you can use my referral code P0267058.Unfortunately there’s nothing extra for you though, just my thanks for helping a fellow investor/blogger out. For full disclosure, I’ll get some reward points as referrer.

I haven’t figured out though why FSMOne doesn’t use the entire amount set to purchase shares since they allow fractional shares anyway. Usually, the actual invested amount is a few dollars less. It’s a tad annoying because I’ll be left with some change in my cash account every month.

Holdings

So far, I’ve purchased ~SGD1,180 worth of ETFs through FSMOne (including ~SGD100/mth in March and April). Current value is ~SGD1,154 so I’m down ~2.2%.

Market has been declining, so I expect this account to continue to be in the red for the foreseeable future, at least until we get a rebound.

Screenshot of my holdings in FSMOne:

Investment plan

RSP on FSMOne is my first step in automating my ETF investments. I’m still trying to figure out how to automate QQQ and VNQ purchases.

I’m also considering Syfe REIT+ instead of DIY investments in Singapore REITs. Syfe also seems to support scheduled purchases. I’ll post a write up if I end up setting this up on Syfe.

Another option is to place manual trades every month for QQQ and VNQ on Syfe Trade, since they offer 2 free trades per month and allow fractional shares.

My long term plan is to hopefully automate all ETF purchases to monthly RSP, and only make manual purchases for individual stocks.

With the market in a downtrend, these monthly RSP will allow me to accumulate more shares of these ETFs at lower prices.

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Disclaimer: This is not financial advice. I am not professional financial advisor nor do I work in the finance industry. Anything I write here is purely my personal opinion. Please do your own research and due diligence before investing into anything. All investments come with associated risks. Best to consult a financial advisor if you’re still unsure.

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One thought on “FSMOne RSP Update”

  1. Pingback: Portfolio Update May 2022 – Back To Square One – Finance Gnome

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