The different between Personal Account and Beneficiary Account will be as below:

Personal Account:
The account will own by 1 account holder only and you may invest in all the investment offer in FSMOne by using Personal Account.

In the event that the account holder has passed away the next of kin who wish to withdraw the investment from the deceased Personal account will need to apply Letter of Probate or Letter of Administration from the Court.

Beneficiary Account:
The account will consist of 2 account holders (main holder and beneficiary holder) and only able to perform cash investment (unit trust, bond and managed portfolio). The beneficiary account do not support for PRS investment, EPF investment and Stocks/ETFs trading.

Beneficiary account is useful if you are planning separate portfolios for your children, parents, or loved ones. The laws governing survivorship will apply here.

The beneficiary holder (upon 18 years old) is required to bring the death certificate and his/her own IC to our office. We shall open a personal account for this beneficiary holder and transfer all the holdings registered under the beneficiary account. Thereafter, the beneficiary will have the rights towards this holding. He/she will be able to purchase, redeem or switch via online and or liquidate the funds.