Saxo Singapore announced today the discontinuation of its wealth management products, SaxoWealthCare, SaxoSelect and Regular Savings Plan.

Clients of Saxo Singapore’s wealth management products were notified through multiple channels including email, SMS, and in-platform messages. In these communications, clients were advised to close their positions and withdraw and/or transfer their funds by 9 December 2024.

From 10 December 2024 onwards, SaxoWealthCare, SaxoSelect and Regular Savings Plan will no longer be available.

To further support clients, Saxo has also extended different alternatives to clients to help them stay invested. These alternatives include both options within and outside of Saxo’s offerings.

The company commented:

“Saxo regularly reviews our product offering and has come to the difficult but necessary decision to discontinue our wealth management offering. In this transitional period, our top priority is to ensure clients receive the support they require”.