Branching out: Digital brokerages in Singapore expanding offline, legacy firms hitting heartlands

In Singapore, some online brokerages are shifting away from a purely digital approach and opening physical branches to strengthen relationships with clients and build trust. uSMART, a fintech player, was the first to launch physical outlets in Robinson Road and Somerset MRT station, followed by a third location in Bugis. The firm sees these branches as a way to differentiate itself in the competitive online space and create a more comfortable investment journey for customers through face-to-face interaction.

Moomoo, another online brokerage, already operates four physical storefronts, with its largest store in Bugis featuring an in-house cafe and financial education hub. Longbridge, another fintech brokerage, opened a cafe in Tanjong Pagar to serve as a retail investor networking and learning space. In contrast, many traditional brick-and-mortar brokerages, such as OCBC Securities, Maybank Securities, UOB Kay Hian, and Lim & Tan Securities, have consolidated their physical presence into a single central office or corporate hub.

PhillipCapital, however, stands out by maintaining its physical presence while expanding its digital capabilities. The brokerage operates eight Investor Centres across Singapore, including its flagship Raffles City location and heartland branches in Toa Payoh, Bukit Batok, Yishun, and Boon Keng. These Investor Centres are evolving into community spaces for financial education and discussion, with some locations, like the Jurong East centre, open seven days a week, including weekends and public holidays, to provide convenient access to financial advice.