Endowus Empowers Underserved Groups to Reach Their Wealth Goalsby Fintech News Singapore March 7, 2023
Singapore’s digital wealth management platform Endowus has launched a community impact initiative to provide support to four main groups; not-for-profit organisations, women, gig workers, and tertiary students to enable them to reach their wealth and life goals.
The Endowus Empower initiative aims to provide these groups with the right tools, advice, opportunities, and community support.
Empower is an expansion of the firm’s CSR efforts, beginning with the Endowus Gives Back (EGB) programme in 2021. EGB has raised over S$125,000 in donations for 24 beneficiaries such as the Centre for Fathering, Make-a-Wish Foundation, SPCA, and the Yellow Ribbon Fund in just two years.
In 2023, Endowus said that it hopes to continue working with partners including the National Volunteer And Philanthropy Centre (NVPC) and Access Singapore to create more financial and social opportunities for individuals and organisations including animal welfare; children and youth; community integration; sports, as well as women and girls.
Moreover, Endowus will also be supporting women in their personal investing journeys through more dedicated content and community activities.
Data has shown that even though women get better returns than men do, just 14% of women say they know a lot about saving and investing, and 65% say they’d be more likely to invest, or invest more, if they had clear steps to do so.
In this regard, Endowus will be partnering with the Financial Women’s Association of Singapore (FWA) and United Women Singapore (UWS) to host financial literacy workshops tailored for females across ages and socio-economic backgrounds.
Additionally, Endowus aims to collaborate with notable platform players to co-develop a financial literacy series for gig workers. The series will be customised based on their needs, and will cover topics such as “Understanding CPF”; “Financial planning for gig workers”, and “Investing for retirement”.
Lastly, Endowus has also been working closely with tertiary institutions since 2019 to provide young adults with the right resources on financial literacy.
The company has regularly conducted financial and investing 101 workshops, “Ask Me Anything” sessions and fireside chats at local polytechnics and universities including Nanyang Polytechnic (NP), Singapore Polytechnic (SP), National University of Singapore (NUS), Nanyang Technological University (NTU), and Singapore Management University (SMU).
“Through informed wealth management and greater access to the right resources, we are committed to empowering Singaporeans to secure a brighter future for themselves and their loved ones by investing holistically and responsibly.
On the financial literacy front, we hope to positively impact 500,000 individuals through our outreach activities by 2025,”
said Gregory Van, CEO of Endowus.