Skip to main content

Search

What happens to my money and assets if Syfe gets acquired or stops operating?

Eliezer
  • Updated

At Syfe, the security of our clients' money is of utmost importance to us, and we have stringent measures in place to prevent an event like a closure from happening. Syfe is licensed by the Monetary Authority of Singapore (MAS), and we hold a Capital Markets Services (CMS) License for retail fund management, dealing in capital markets products and providing custodial services.

Syfe Wealth

Funds in your Syfe Wealth investment portfolios are held in a Trust Account in DBS Bank while your investments are kept in a Custodian Account through Saxo Capital Markets. These are held separately from Syfe’s assets. 

In the unlikely event of a closure, we will work together with Saxo Capital Markets under the supervision of MAS to ensure the orderly transfer of your Syfe Wealth assets to another licensed fund manager, or the return of all assets and funds to our customers. Customers will be able to choose their preferred means.

Syfe Trade

Funds in your Syfe Trade account are held on trust by The Hongkong and Shanghai Banking Corporation Limited, Singapore Branch (HSBC). Alpaca Securities LLC, a member of the Securities Investor Protection Corporation (SIPC), will serve as the sub-custodian for your securities account. In the event that a SIPC-member fails and is placed in liquidation under the Securities Investor Protection Act, SIPC protects the securities customers of its members up to $500,000 (including $250,000 for claims for cash). SIPC does not protect against any decline in the value of your securities. For details, please see www.sipc.org 

Your funds and assets are held separately from Syfe’s. This means that we will never be able to use your funds and assets, even in the very unlikely event that Syfe stops operating.

In that unlikely scenario, we will work together with HSBC and our broker to ensure the orderly transfer of assets to other licensed financial institution, or the return of all assets and funds to our customers. Customers will be able to choose their preferred means.

For both Syfe Wealth and Syfe Trade accounts, clients are free to withdraw their money any time they wish. Syfe does not impose any exit penalties or lock-in periods, so clients are genuinely able to access their money any time.

Related articles

Pronounced as
Sounds like life

Why the name Syfe?
In Japanese, the word Saifu means wallet and to be closely associated with our most important attribute - which is the word safe

Sign up for News & Updates

Connect

support@syfe.com

+65-3138-1215

#11-01 11th Floor, The House Of Eden, 4 Robinson Road, Singapore 048543

Download App now

This website is developed and operated by Syfe Pte. Ltd. (“Syfe”), which holds a Capital Markets Services License and is regulated by the Monetary Authority of Singapore (Co. Reg. No. 201834952H).

The information contained herein is provided for general information only and should not be used as a basis for making any investment or business decisions. Past performances are not necessarily indicative of future performances. Investment involves various risks, and you should ensure that you fully understand the risks, characteristics, and restrictions by reading the Risk Disclosure Statement, and determine if the investment products are suitable for your financial situation, investment objective, and risk tolerance before making any investment decisions. You are recommended to obtain independent professional advice where appropriate. All return figures shown are presented for informational purposes only and are not indications, predictions, forecasts, nor guarantees of future performance results, or the quality of an investment, are subject to change without notice and may differ or be contrary to opinions expressed by others. Syfe does not take responsibility for the calculation of assumed target returns, no representation or warranty is given as to the adequacy or reasonableness of the methodologies or assumptions used in calculating assumed target returns, and no reliance should be placed on any assumed target return. All rights reserved. Use of this website is governed by the Terms of Use. The content contained on this site is provided to users “as-is” without any express or implied warranty. This advertisement has not been reviewed by the Monetary Authority of Singapore.