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UBS explains how its new robo-adviser will rival wealth managers

The UK is just one example of a market plagued by an 'advice gap' that leaves clients with smaller assets unable to find high-quality financial advisory.

This is according to Claudius Sutter, managing director at UBS, who said the firm's recently launched digital adviser UBS SmartWealth aims to close this gap.

The UBS SmartWealth project operates only in the UK at the moment, but Sutter said expansion to Switzerland is planned, especially as UBS is already Finma regulated.

The robo-advser was rolled out to investors at the end of February and invests in ETFs as well as smart beta overlays. The overlay only covers US equities at the moment, but the team is looking to expand the service to cover UK and European equities as well. 

Although the minimum investment amount is £15,000, the client segment the team is targeting is those with between £100,000 and £2 million of investable assets.

For active portfolios fees are 1.7-1.8%, while for passive funds it is 1%.

The team has collaborated with writers and journalists to provide research and educational articles on their website, including access to UBS’ global chief economist Paul Donovan’s daily podcasts.

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