Syfe, a leading investment platform in the Asia Pacific, has launched Joint Accounts in Singapore, a pioneering feature for digital wealth platforms in the region. This new offering allows two individuals, such as spouses or family members, to co-manage investments with full transparency and shared ownership via the Syfe app. Initially available to an early-access group, the feature will be rolled out to all users in the coming weeks.
The introduction of Joint Accounts is a response to findings from a recent Syfe survey, which highlighted a “coordination gap” in family financial management. Over 40% of respondents currently invest separately, facing challenges in coordinating their efforts. Furthermore, in 30% of households, a single person manages all investments, often resulting in a lack of transparency and shared financial literacy. Contrary to the common belief that joint accounts are primarily for managing shared expenses, only 15% of respondents cited this as their reason for wanting a joint account. Instead, 55% expressed a desire to build long-term family wealth.
Jack Prickett, Chief Commercial Officer at Syfe, stated, “Investing as a family—whatever that family set-up looks like—shouldn’t feel like a second job.” He emphasised that Syfe aims to provide the necessary digital infrastructure to facilitate growth-oriented family portfolios.
Key features of the Joint Accounts include shared ownership and visibility, seamless integration with individual accounts, no minimum balance requirements, and goal-based investing options. This initiative is designed to empower users to save for their children’s future and facilitate wealth transfer across generations.
