Singapore families embrace shared wealth planning

Family wealth planning is shifting toward shared investing, as Singapore households seek greater transparency, joint control and long-term coordination in managing assets, according to Syfe.

Syfe, one of the leading investment platforms in Asia Pacific, today announced the launch of joint accounts in Singapore. This feature for digital wealth platforms in Singapore, allows two individuals, such as spouses or family members, to seamlessly invest and build long-term wealth together with full transparency and shared ownership within the Syfe app. The feature is now live for an early-access group, with a full rollout to all Syfe users in the coming weeks.

The launch comes in response to user demand and insights from a recent Syfe survey. The findings revealed a significant "coordination gap" in how modern families manage their finances:

More than 40% of respondents currently invest separately and struggle to coordinate their efforts manually. In 30% of households, a single person manages all investments, often leading to a lack of transparency, lack of joint control and shared financial literacy.

Contrary to the belief that joint accounts are just for "paying bills," only 15% of respondents cited “managing shared expenses” as the reason they want a joint account. In contrast, 55% of users cited “building long-term family wealth” as their primary motivation for a shared account.

When asked whether couples should have full visibility into shared investments, 62% responded “absolutely.” Syfe’s new joint account feature eliminates friction by providing a transparent, self-serve, and automated platform where both partners have equal visibility and control over their shared financial future.

Designed for the future: From children's savings to wealth transfer

The survey data underscores the mindset toward generational wealth. One in three respondents intend to use the joint account specifically to save for their children, or as a critical tool for wealth transfer to the next generation. By moving joint account creation from a manual, request-based process to an instant, in-app feature, Syfe is empowering users to act on these long-term goals immediately.

"Investing as a family, whatever that family set-up looks like, shouldn't feel like a second job," said Jack Prickett, chief commercial officer at Syfe. "Our data shows that many Singaporeans want to move towards growth-oriented family portfolios and Syfe is providing the digital infrastructure, and removing the friction, so that couples and families can grow their wealth together."

Key features of Syfe joint accounts

Shared ownership and visibility: Both account holders have equal access to view balances, track performance, and make contributions or withdrawals, ensuring full transparency in family finances.

Seamless integration: Users can easily switch between their individual and joint accounts within the same Syfe app interface.

No minimums or tier requirements: Unlike traditional banking joint accounts that often require high balances or ‘accredited investor’ status, Syfe’s joint accounts are accessible to all users.

Goal-based investing: Families can create specific portfolios tailored to shared milestones, from purchasing a home to funding a child’s education. Joint accounts will be available soon to all Syfe users in Singapore.

Re-disseminated by Wealth and Society