Digital wealth platform Syfe is rolling out a new feature allowing users to co-manage investment portfolios and build shared wealth.
The product is currently live for an early-access group, with a full public launch expected in the coming weeks.
The launch of Syfe joint accounts in Singapore targets what the platform describes as a “coordination gap” in retail wealth management.
According to a recent company survey, more than 40% of respondents currently invest separately and struggle to coordinate their finances manually.
Furthermore, the survey revealed that a single person manages all investments in 30% of households. This setup often leads to reduced transparency and unequal financial literacy between partners.
When asked if couples should have full visibility into shared investments, 62% of respondents agreed.
Syfe’s shared accounts allow two individuals to track performance, contribute funds, and make withdrawals within a single app interface.
Users can also switch between their individual and shared portfolios seamlessly.
Unlike traditional banking setups, the wealthtech platform does not impose minimum balance requirements or require users to hold accredited investor status.
Customers can set up specific portfolios tailored to shared goals, such as buying a home or funding a child’s education.
Company data indicates a shift in how retail investors view shared finances.
While traditional joint bank accounts are often associated with paying daily expenses, 55% of Syfe’s surveyed users cited building long-term family wealth as their primary motivation.
Additionally, one in three respondents plan to use the shared accounts to save for their children or facilitate intergenerational wealth transfer.
“Investing as a family shouldn’t feel like a second job,”
said Jack Prickett, Chief Commercial Officer at Syfe.
He noted that the platform aims to provide the necessary digital infrastructure to remove friction, allowing couples and families to shift towards growth-oriented portfolios.
Featured image credit: Edited by Fintech News Singapore, based on image by naskawin888 via Magnific