17 November 2017
visit www.response.ncr.com

UBS targets less rich Brits with robo-advisor platform

10 October 2016  |  8039 views  |  0 UBS Building entrance 1

UBS is hoping to bring its wealth management services to a wider audience through the launch of a digital robo-advisory platform available to UK customers with as little as £15,000 to invest.

The UBS SmartWealth platform will be offered to some UK customers in November before a country-wide rollout in 2017, with other markets expected to follow.

A year in the making, the system uses proprietary technology to provides regulated and real-time advice online. It recommends a suitable investment strategy based on a client’s individual financial situation relative to their attitude to risk and an understanding of their life stage, assets and goals.

Performance is regularly checked to provide clients with ongoing updates against their goals and advice on possible actions, while portfolios are also adjusted on an ongoing basis, relative to the views of UBS’s worldwide research and investment experts.

The bank says that SmartWealth enables to bring its wealth management service to a "new group of clients", requiring a minimum investment of just £15,000.

Like other banks, UBS is keen to take advantage of technological advances to win over a whole new market to its wealth management service. Earlier this year the Swiss giant joined a $40 million funding round for San Francisco-based robo-advisor SigFig. In addition to the money, the pair promised a joint advisor technology research and innovation lab, where UBS financial advisors, product experts and technologists can work with SigFig’s digital experts.

Dirk Klee, COO, UBS Wealth Management, says: "UBS SmartWealth is a strategically important move for UBS. It enables us to bring our advice and expertise to a much wider audience, at first in the UK, but in time in other geographies too.

"Technology is changing the way financial services are delivered. The launch of UBS SmartWealth shows that digital innovation is not the sole reserve of start-ups. Large market-leading institutions have the resources to research, test and build transformative new products and services."

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Wealth management firms to embrace tech and see off fintech insurgents - report

Wealth management firms to embrace tech and see off fintech insurgents - report

21 September 2016  |  7282 views  |  0 comments | 12 tweets | 13 linkedin
JPMorgan Chase partners InvestCloud for digital wealth management

JPMorgan Chase partners InvestCloud for digital wealth management

21 September 2016  |  8484 views  |  0 comments | 6 tweets | 7 linkedin
Advantage Ellevest as Venus Williams invests in robo-advisory service for women

Advantage Ellevest as Venus Williams invests in robo-advisory service for women

15 September 2016  |  6423 views  |  0 comments | 10 tweets | 6 linkedin
US Bank joins robo investment movement with FutureAdvisor

US Bank joins robo investment movement with FutureAdvisor

25 August 2016  |  7272 views  |  0 comments | 6 tweets | 3 linkedin
Nearly half of North Americans open to robo-advice

Nearly half of North Americans open to robo-advice

01 July 2016  |  9601 views  |  0 comments | 21 tweets | 14 linkedin
Big banks join $40 million SigFig round

Big banks join $40 million SigFig round

24 May 2016  |  6544 views  |  0 comments | 8 tweets | 6 linkedin
UBS strikes alliance with robo-advisor SigFig

UBS strikes alliance with robo-advisor SigFig

16 May 2016  |  8836 views  |  0 comments | 10 tweets | 6 linkedin

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.atos.netvisit www.aciworldwide.comvisit www.ncr.com

Top topics

Most viewed Most shared
Singapore central bank open sources blockchain prototypesSingapore central bank open sources blockc...
11250 views comments | 15 tweets | 28 linkedin
Digital receipt startup Flux scores game-changing deal with BarclaysDigital receipt startup Flux scores game-c...
9513 views comments | 20 tweets | 36 linkedin
AmEx partners Ripple and Santander for blockchain-enabled cross-border paymentsAmEx partners Ripple and Santander for blo...
8287 views comments | 12 tweets | 35 linkedin
UK cryptocurrency exchange startup launches debit card for spending bitcoinUK cryptocurrency exchange startup launche...
7261 views comments | 26 tweets | 37 linkedin
Visa bids to bring contactless transit payments to the worldVisa bids to bring contactless transit pay...
7135 views comments | 16 tweets | 29 linkedin

Featured job

Competitive
Germany, Austria or Switzerland

Find your next job