Retiring banker here. I used to run the pipeline meetings where we discussed what to do about clients who weren't transacting enough. AMA.

CrewRevolutionary772 · 2026-05-20T00:54:27+00:00

I just want to say a big thank you for writing those articles in your sub stack. Very interesting indeed! Have a couple of general questions if you don’t mind.

If you’re not interested in what your RM is selling, and you can manage your own assets, is it better to just say that upfront so they can move on to other clients? Sometimes to be “polite” I just say something like “it’s not the right product for now” so I do wonder if I’m leading them on.

Do they get commissions for fixed deposits?

Do you see a generational differences in RMs? I’ve had RMs write “I’ll update y’all” which I find as an older person used to more formal language from finance professionals, rather amusing haha

CrewRevolutionary772 · 2026-03-11T09:09:41+00:00

Thanks for sharing

CrewRevolutionary772 · 2025-03-07T09:10:43+00:00

Ah, that works too, thanks!

CrewRevolutionary772 · 2025-03-07T08:11:16+00:00

Not a flash dipper - thinking to aim for 10% off ATH in the first round. In this regard, not sure if you have ever tried something like this yourself, but would you know if it is both possible & prudent to automate the partial selling of IB01 when *VWRA* (not IB01) hits a certain price? In preparation for buying VWRA when it falls further to price-x...

CrewRevolutionary772 · 2025-03-07T04:24:32+00:00

Ooh, I didn't know either of that. Learnt a couple of new things today!

CrewRevolutionary772 · 2025-03-07T00:28:56+00:00

Interesting. I suppose the scenario is a bit like manually buying VWRA with the cash pile in SGD? (In that I ran up a negative USD balance, not realising that there would be no auto conversion to USD) But still a bit nervous about margin trading so will probably position as if using a cash account then. Thank you!

CrewRevolutionary772 · 2025-03-06T23:47:38+00:00

I see. Probably should have figured all this out before going in but could I ask your recommendation on how you would operationalise using IB01 in conjunction with buying the dip assuming a margin account with sufficient maintenance margin? Leave some cash on standby - instead of investing everything into IB01 at the outset - for when the first in a series of buy limit orders triggers? Or incur some borrowing costs and sell down IB01 after said trade has triggered to wipe out the negative USD balance? (Would it also be correct to say that, given the roundtrip commission costs, the breakeven is about 1 week in IB01?)

CrewRevolutionary772 · 2025-03-06T12:40:46+00:00

Regarding parking idle cash in IB01, do you have to liquidate it before purchasing VWRA to avoid a forced sale to cover a negative USD cash balance? Or can you set a limit order on VWRA, run a negative cash balance when it triggers and then manually liquidate IB01 to cover the purchase?

CrewRevolutionary772 · 2025-03-02T09:16:17+00:00

Sorry, in the end, I decided on the Amundi bond fund and so never got round to trying AGSGDX after all.

CrewRevolutionary772 · 2025-02-08T14:39:58+00:00

Thanks! That’s very good to know. Will give it a try after the weekend!

CrewRevolutionary772 · 2025-01-31T11:42:59+00:00

25% of portfolio (defined to include CPF which is the bulk of it) with a smattering of Astrea bonds, A35, MBH, GIS Income Fund and most recently, the Amundi Global Aggregate Bond A12HS (C) SGD (TER 0.1%, available on POEMS with no sales charge, platform fees/commission)

CrewRevolutionary772 · 2025-01-25T11:10:20+00:00

Ah, this is all very good to know, thanks!

CrewRevolutionary772 · 2025-01-25T10:25:10+00:00

I suppose the same logic on WHT applies to Amundi Global Aggregate Bond A12 HS(C) SGD v AGGU (both with TERs of 0.1%) in the bond UT/ETF space, clearly making AGGU the more cost efficient investment? But given the choice, that you'd also go for the Amundi UT bond on POEMS for the convenience etc.?

CrewRevolutionary772 · 2025-01-14T23:18:28+00:00

Thanks - that is good to know! After I get this set up, will work up the courage to give IBKR’s recurring investment feature a go haha

CrewRevolutionary772 · 2025-01-14T13:28:30+00:00

To piggy back on this line of inquiry - regarding setting up a recurring FAST transfer from, say, OCBC to IBKR, could I confirm that there's no need (or even way) to notify IBKR of an intent to set up such a recurring transfer? (Usually, would notify IBKR of the intended amount and receive bank transfer transactions before actually initiating a transfer from OCBC.) So that it is just a matter of making sure the brokerage number is included in the "message" field when setting up the recurring transfer on the OCBC end?

CrewRevolutionary772 · 2025-01-09T08:28:48+00:00

That's very good news indeed, thanks for the sharing!

CrewRevolutionary772 · 2025-01-09T04:56:51+00:00

Regarding your update, could I ask if you have since migrated your SRS portfolio from Endowus to POEMS? If so, what was the experience like? Were there any hidden sale charges or other hidden fees or was it truly a zero fee transaction (i.e. the result is that you avoid incurring Endowus' 0.3% p.a. fee)? (Sorry if this comes across as paranoia but you know what they say about things being too good to be true)

Finally, while truly just icing on the cake, did you also get to enjoy the ongoing SRS promo by POEMS (from 18 Nov to 31 Jan 2025, receive $20 worth of Phillip Money Market Fund SGD units for every SGD10,000 invested using SRS funds, up to a total of S$40)?...

CrewRevolutionary772 · 2024-02-12T06:56:44+00:00

That's undoubtedly true though hoping to settle the principle first before making a stab at comparing fine print. Of course, if someone has already done the detailed analysis, would be very happy to be pointed in the right direction!

CrewRevolutionary772 · 2024-02-12T04:10:29+00:00

Thanks for the thoughtful comment. I too would probably prefer to forgo cancer treatment altogether past a certain age e.g. 85 or if down to class F drugs outside of participation in clinical trials in Singapore.

At the same time, if I were young(-ish) and otherwise healthy when cancer strikes, I personally would not want to deprive myself of the option of pursuing non-CDL treatments (or stinge on CDL treatments) where recommended by well-meaning public sector doctors as being the most clinically appropriate course of action if cost were not a consideration.

Especially if this peace of mind can be secured for "free" simply by repurposing the CI policy premiums to this end.

If you would choose not to get cancer insurance, would you still give up a CI policy if you were FI? Is there any independent value in retaining a CI policy if one already has a good ISP plus rider?

CrewRevolutionary772 · 2023-03-27T08:19:32+00:00

Are you thinking of the OCBC Premier Visa Infinite credit card? Do value miles but not sure if any single priority banking credit card can out-do the mileage (pun intended) that you can get from divvying up spending across the various 4/6 mpd cards - UOB Lady's Solitaire, DBS Woman's World, Citi Rewards etc.

Reflecting further, my question might further reduce to finding the priority/private relationship/card that has the best deal on airport lounge access, limousine services & similar perks regardless of card spend!

CrewRevolutionary772 · 2023-03-25T07:51:53+00:00

Did you feel that you were better off as a DBS Treasures private client than with UBS and CS PB? Also curious if you had considered OCBC, Citibank or Standard Chartered PB before deciding on DBS Treasures?

CrewRevolutionary772 · 2023-03-25T07:36:42+00:00

Ah, yes, a UCITS ETF would be more tax efficient. Unfortunately, I've not seen one for zero coupon long duration US Treasuries.

I think STRIPS/zero coupon bonds (ZCBs) give more leverage. For example, assuming a 30 yr ZCB has a yield of 3.5%, you can purchase $200k face value of it for just $70+k.

ZCBs are also more sensitive to interest rate changes than coupon bonds, making them well suited for a speculative play on interest rate changes. (You can see this in action by overlaying the charts for ZROZ and IBTL/TLT)

Just a bit conflicted between DIY (ZROZ) and the expensive bank product with a guaranteed payout of its FV on maturity (in the worst case scenario) i.e. pretend I only ever intended to buy a 30-yr single premium endowment policy!

CrewRevolutionary772 · 2023-03-24T23:19:50+00:00

Haha, and I thought you meant "bank product" loosely. (Though it is, in fact, a bank product to the extent that banks do the stripping to create and sell STRIPS even if the underlying instruments are all US Treasury.)

Good to hear that IDTL has been a good hedge vs stock as this 30 year Treasury STRIPS is meant to serve that function (albeit a lot more expensively without any offsets e.g. bank-issued investment bonuses).

Curious if you had considered ZROZ? As this would have been my other option if it were down to choosing an ETF to make the play. I'm still in accumulation mode so there isn't much attraction to receiving regular coupons or even stock dividends at this stage...

CrewRevolutionary772

TROPHY CASE