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What's New In Investments, Funds – DBS, JP Morgan AM

Editorial Staff 2 December 2022

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The latest news on investment offerings, financial products and other services relevant to wealth advisors and their clients.

DBS Bank and JP Morgan Asset Management have inked an exclusive multi-year agreement to work on a retirement offering for Singapore clients.

The pact involves bringing out a retirement portfolio that will be integrated into DBS’s AI-powered digital advisory tool DBS NAV Planner.

DBS NAV Planner’s “Map Your Money” function will assess users’ retirement adequacy and project their future needs. It will also identify shortfalls and shed light on how to fix them so that  clients can achieve their preferred retirement lifestyle. A personalised glidepath-based retirement portfolio solution will then be generated for customers to consider investing in. 

Customers can monitor the portfolio solution’s performance digitally at all times. They are also empowered to adjust their investment preferences if circumstances change.

The launch comes at a time when Singapore is facing an ageing population. One in four Singaporeans are expected to be 65 years or older by 2030. Amid rising inflation rates, compounded by other factors such as rising healthcare costs, the ability to retire well is a foremost concern for most. 

“While many are familiar with the concept of investing to accumulate wealth, there is a pressing need to help customers learn to draw down on their retirement nest egg systematically (i.e., decumulate) while still optimising idle funds for investment and in a timeframe that reflects their true retirement journey,” DBS said in a statement. 

Jeremy Soo, head of consumer banking group (Singapore), DBS Bank, said: “To mitigate longevity and inflation concerns, we need to have a holistic view of our cash flow projections and clarity on how they can be systematically paid out during retirement. This enables us to avoid two possible extremes – underspending, which impacts quality of life during retirement, and overspending, which could lead to us outliving our nest egg.”

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