Versa Robo Advisor Overview

Four years ago, there were only three Robo advisories in Malaysia. Fast-forward to today, and there are more than a handful you can choose from. While this is undoubtedly great, people who aren’t very familiar with this terrain have an even more difficult time deciding. To help Malaysians easily identify which Robo advisor is right for them, we’ve reviewed several of the digital wealth management platforms in the country at the moment. See here to check those out. Now, we’ll be doing a review of Vera Invest, one of the major players in the field at the moment.

Versa Invest – What To Know

Versa Invest is an innovative Robo advisory founded by Fintech gurus Teoh Wei Xiang, Nelson Wong, and Richmond Yau in 2019. Versa was the best alternative for Malaysians who wanted to grow their funds without the limitations peculiar to using fixed deposits. Here are some features of this Robo advisory.

A Diversified And Extensive Portfolio

This platform has a wide range of ETFs and portfolios that you can leverage to increase your profit. What’s more, you’re allowed to deploy your financial resources in a combination of active and passive global funds. It helps you increase your reach without much effort. One thing worth noting here, though, is that the investment avenues offered here are not Shariah-compliant.

Impressive App User Experience

The Versa app’s user interface makes business expansion much more accessible, thanks to how well laid out it is. We also observed that it was considerably more detailed when compared to many of its competitors. Also, because the app didn’t contain any verbose information, it doesn’t take even longer for new users to find their way around easily.

Reasonable Annual Fees And Zero Hidden Charges

A common problem when using many Robo advisors is that users have to make do with paying high annual interest rates and are often suddenly and unexpectedly hit with hidden charges when making transactions. With Versa, none of this is a concern, as individuals can get as slow as a 0.5% annual fee and zero restrictions and charges when making a deposit or withdrawal.

A Fast And Reliable Customer Support Service

Whether it’s to report an issue or to get clarification on certain aspects of a service or feature, many users have to reach out to the customer service unit of a platform at some point. Versa makes this process considerably more manageable as you can not only contact their customer support team at all times, but you can do so in various languages, making communication more convenient. The most significant downsides to using this platform are that it isn’t Shariah-compliant and may be more heavily invested in the Malaysian market than some investors would appreciate.

Bottom Line

Versa Invest brings a new and exciting approach to the Robo advisory world and can be the ideal place for beginners to kick start their journey in investment. It has its limitations, but these don’t take away from the fact that it’s a profitable and reliable platform.