How do you determine someone's risk profile and asset allocation? Some people would not know themselves all too well and may think they're aggressive or conservative when they're not. ?

This is a pretty good question. While there is no blanket rule, i suggest trying out the Risk profile calculation tools available on the 3 various robo advisors.

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Use that as a guage of how much you would invest And what kind of investor you are before committing.

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If i remember correctly, it is a tool where you can input your current age, and there are a series of questions which allow you to guage how confident you are, your investment horizon, whether you will choose to sell if there is a portfolio drawdown etc.

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from there, you would be able to understand the model portfolio (mix of bonds and equities) at the end so you figure it out.

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would recommend Autowealth.sg for this tool, i think they have a pretty comprehensive one!

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Hope that is useful! Cheers!