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UBS rolls out digital wealth manager

UBS rolls out digital wealth manager

UBS’s online wealth management service UBS SmartWealth has officially launched, with five strategies being offered to clients.

The strategies are split between active and passive offerings, which predominantly invests in ETFs but with a smart beta overlay.

At the moment the overlay is only covering US equities and the team is looking into expanding it to cover UK and European equities as well. 

The funds that are being offered are fixed income, yield, balanced, growth and equity. 

The service, as described by co-head Nick Middleton, is ‘something inside people’s pockets to give a tangible solution to the advice gap’. It focuses on offering ‘goal based investing’ and advice. Middleton works alongside co-head Shane Williams. 

The service was initially made available to a number of UK customers in November last year. This week it will be rolled out to new clients. 

The client will first fill out an interactive questionnaire. The questions are personalised at each step based on the client’s responses.

After this onboarding process is completed, the client then has access to a wealth planning module where they can input income events and spending goals to create a clear plan.

Meanwhile the suitability questionnaire incorporates behavioural finance that allows the advisers to understand the psychology of the client to actually offer advice.

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

The team has also collaborated with writers and journalists to provide research and educational articles on the website which includes access to UBS’ global chief economist Paul Donovan’s daily podcasts.

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