In Singapore, remisiers—licensed trading representatives affiliated with securities firms—are experiencing a renewed presence in the retail stock market after appearing to decline in relevance due to the rise of digital trading platforms. Once central to facilitating trades, their traditional role as order-takers has diminished as online brokerages enable investors to execute trades quickly and at minimal cost through apps.
However, several digital brokerages, including Tiger Brokers Singapore, Saxo Markets, Moomoo Singapore, and Syfe, are repositioning remisiers as investment representatives who provide personalized support that technology alone cannot offer. These firms maintain teams of remisiers to assist clients in managing portfolios, interpreting market movements, and filtering an overwhelming amount of information. Companies such as Nanofilm Technologies and Lendlease have also begun employing remisiers to engage retail investors more effectively, particularly during initial public offerings (IPOs) and through ongoing briefings.
According to S Nallakaruppan, president of the Society of Remisiers Singapore (SRS), there are around 2,000 remisiers and dealers in the country, with approximately 420 registered under the society. He explained that with execution costs near zero, the value of remisiers has shifted from trade processing to providing interpretation, context, and emotional support—especially during periods of market volatility. Employing artificial intelligence (AI) for research and stock screening is enabling some remisiers to serve clients more efficiently, with Nallakaruppan likening them to "private bankers for equities."
Raymond Chin, senior director at Tiger Brokers, cited studies indicating widespread use of digital tools by investors but a persistent preference for human advisers. While 89% of investors use digital platforms to gather information, only 37% feel comfortable relying on AI for personalized financial advice. During volatile periods, half of investors prefer direct interaction with a human representative. Chin identified three distinct advantages that humans hold over AI: accountability, tailored context, and emotional support amid market downturns. He noted that human representatives can better understand clients’ long-term circumstances and help prevent rash investment decisions fueled by panic or misinformation.
The profession is attracting younger individuals, who are drawn by the independence and entrepreneurial nature of the role. Rather than traditional employment, remisiers operate under agency arrangements, earning commission based on the business they generate and building their own client bases. Tiger Brokers offers training and certification for new recruits, ranging from fresh graduates to career switchers, supporting them with the firm's infrastructure to develop their portfolios.
Singapore’s Government-driven Equity Market Development Programme (EQDP) has contributed to the revitalization by encouraging greater retail participation and trading activity. Nonetheless, some industry professionals caution that sustained investor engagement, rather than isolated IPOs or temporary market surges, is crucial for ensuring the remisier profession’s long-term viability. Wang Han Hui, a remisier at UOB Kay Hian, emphasized the importance of continued initiatives across the market ecosystem to maintain investor interest in local equities.
Ultimately, the renewed demand for remisiers coincides with a demographic challenge, as two-thirds of SRS members are aged 60 or older. The profession’s future will hinge on its ability to attract and retain younger representatives who can adapt to evolving market conditions and consistently demonstrate value to their clients, according to remisier Sebastian Chan of UOB Kay Hian.
