Press release -
Phillip Securities Launches Joint Minor Account Service: Share Builders Plan Celebrates 12 Years & MoreE
Phillip Securities, a member of PhillipCapital, announced today the launch of its service for parents to open joint accounts with their children (from new-born to up to 18 years old) through the Share Builders Plan.
Phillip Securities was the first to launch a regular investment plan branded as ‘Share Builders Plan’ (SBP) since 2001 among retail investors in Singapore as an option of owning shares from as low as S$100 a month. Since then, SBP has expanded its offerings to include Exchange Traded Funds (ETFs) and Real Estate Investment Trusts (REITs), which aim to provide investors the opportunity to diversify their portfolios.
“I have always been encouraged by my father to invest early. So when I started working, SBP was the perfect investment for me. Starting at $500 a month, I’ve gradually increased the amount and I'm glad to say that it is now a substantial portfolio. The strategy of dollar cost averaging has worked well for me, which is why I'm going to recommend it to my children in the future,” attested Dr. Lin K.W, customer of more than 10 years.
“Over the past 38 years, we have strengthened our commitment in providing quality service to our retail customers. Phillip has been a major player in Singapore’s financial landscape by consistently innovating our products and services,” said Mr Loh Hoon Sun, Managing Director of Phillip Securities.
“We are pleased Phillip is making regular share savings more inclusive with the launch of its Joint Minor Account service for our young ones. Singaporeans are, by and large, missing out on the benefit of long-term regular share investing, as mentioned in our discussion paper “Retiring in Comfort”. We look forward to more providers bringing to Singaporeans easy and economical ways to invest in shares earlier in life,” said Ms Lynn Gaspar, Senior Vice President of Singapore Exchange.
In appreciation of the steadfast support from customers, Phillip SBP celebrates its 12th Anniversary by introducing the Joint Account Service for parents to invest with their children (from new-born to up to 18 years old) – “A Gift For Your Little Ones” – to give them a head start in life.
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Topics
- Finance
Categories
- personal savings
- singapore
- exchange traded funds
- etf
- reits
- shares
- stocks
Share Builders Plan (SBP) is a regular fixed dollar amount investment plan, which enables one to buy shares on a consistent and incremental basis so as to build up a portfolio of securities eventually. Therefore, a huge amount of money will not be required to invest in stock market since SBP presents an opportunity to invest in stock market to buy smaller quantity at a reduced cost.
By investing a fixed amount of money consistently every month over a period of time, average cost of shares purchased will generally be lower than the average price of the shares over the same period of time. This is possible since with the same amount of money, investors will buy more shares when prices are low and fewer shares when prices are high.
This investment method is known as Dollar Cost Averaging; and it is especially useful in hedging against market volatility. With such a disciplined and consistent method, one will eventually build up a portfolio of stocks at a lower averaged cost.
For more information on Phillip Share Builders Plan, visit www.poems.com.sg/sbp
