StashAway Acquires MakeGoodwill to Offer Online Wills for S$179
StashAway, a Singapore-based wealth management platform, has acquired MakeGoodwill, a digital wills platform. This acquisition marks StashAway's entry into legacy planning services, allowing Singapore residents to create legally valid wills online for S$179. MakeGoodwill, which has facilitated over 1,100 wills since its launch, will continue to operate as a standalone brand. StashAway aims to support clients with comprehensive financial decisions, from investing to estate planning, by integrating MakeGoodwill's services.
StashAway's acquisition of MakeGoodwill for online wills in Singapore points to a broader trend in Southeast Asia's fintech sector: the expansion of wealth management platforms into adjacent, often overlooked, financial services. While StashAway has built its base on investments and cash management, adding legacy planning addresses a critical need for its existing client base. Many individuals, even those actively building wealth, often defer estate planning due to perceived complexity or cost. MakeGoodwill's S$179 service, developed with Singapore lawyers, simplifies this process. This move could encourage other regional fintechs to consider similar expansions, particularly in markets with aging populations and increasing wealth. The challenge for StashAway will be to integrate this service without diluting its core investment offerings, ensuring that the legacy planning option is seen as a natural extension rather than a distraction. The continued operation of MakeGoodwill as a standalone brand suggests a strategy to maintain its specialized focus while leveraging StashAway's client reach. The key will be how effectively StashAway cross-sells this service to its existing 1,100 clients and beyond, and whether the convenience of an online will truly overcomes the inertia many feel about legacy planning.
