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UBS and SigFig to form strategic alliance for wealth management technology development
UBS makes equity investment in SigFig, will create joint Advisor Technology Research and Innovation Lab
New York and San Francisco, -- UBS Wealth Management Americas (WMA), and SigFig, an independent San-Francisco-based wealth management technology company, today announced that they have agreed to form a strategic alliance to develop financial technology for UBS WMA, its financial advisors and their clients.
As part of this strategic alliance, SigFig will create and customize digital tools and services for UBS WMA's 7,000 advisors that will complement their expertise and enhance their clients’ digital experience. This best-in-class digital platform will improve the ability of UBS advisors to efficiently provide advice on assets held at UBS and other institutions, a critical factor in providing truly personalized financial advice across the complete range of client needs.
To further strengthen this alliance, UBS WMA has also made an equity investment in SigFig – underscoring UBS WMA's long-term confidence in SigFig's platform, innovative technological capabilities, and management. Additionally, UBS and SigFig will create a joint Advisor Technology Research and Innovation Lab, where the companies will continually collaborate on new wealth management technology tools. The companies envision the lab as a forum where UBS financial advisors, product experts and technologists can join with SigFig’s experts in digital technologies and design to develop leading technology capabilities for UBS WMA and its clients.
"This alliance will strengthen our advisors’ ability to provide outstanding client experiences and outcomes by combining our expertise in relationships and personalized advice with SigFig's skills in technology, data science, design, and development," said Tom Naratil, President of UBS Americas. "It is vital for our industry to innovate and provide advisors with advanced technology that enables service, advice and access aligned with how clients live their lives today."
“It is an honor to have been selected by a company with the reach and stature of UBS Wealth Management Americas for this strategic alliance. In today's market, it is increasingly important for financial firms to have access to the best technology possible," said Mike Sha, CEO of SigFig. "As a Silicon Valley company, SigFig can quickly innovate and deliver custom digital wealth management solutions tailored to the specific needs of an individual financial institution and its clients. Major enterprise partnerships are a key part of continuing to expand the reach of SigFig's investment technology platform, and we are excited to work with UBS WMA.”
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Notes to editors
About UBS Wealth Management Americas
Wealth Management Americas is one of the leading wealth managers in the Americas in terms of financial advisor productivity and invested assets. Its business includes UBS’s domestic US and Canadian wealth management businesses, as well as international business booked in the US. It provides a fully integrated set of wealth management solutions designed to address the needs of ultra high net worth and high net worth clients.
UBS provides financial advice and solutions to wealthy, institutional and corporate clients worldwide, as well as private clients in Switzerland. The operational structure of the Group is comprised of our Corporate Center and five business divisions: Wealth Management, Wealth Management Americas, Personal & Corporate Banking, Asset Management and the Investment Bank. UBS's strategy builds on the strengths of all of its businesses and focuses its efforts on areas in which it excels, while seeking to capitalize on the compelling growth prospects in the businesses and regions in which it operates, in order to generate attractive and sustainable returns for its shareholders. All of its businesses are capital-efficient and benefit from a strong competitive position in their targeted markets.
SigFig is dedicated to making high-quality investment advice more accessible and affordable to investors of all wealth levels. Using a combination of design, data science, and technology, SigFig helps empower investors with the information and guidance they need to achieve their personal financial goals. Through partnerships with some of the world’s largest and most innovative financial institutions, SigFig’s Enterprise Digital Wealth Management platform helps millions of people around the world track and optimize over $400B in assets. Its battle-tested enterprise technology accelerates time to market for its partners, while doing so in a secure, scalable, and compliant way. And its product, design, and growth labs fuel innovation, accelerate adoption, and create delight for clients.
Founded in 2007, SigFig is backed by top-tier venture capital firms, including Bain Capital Ventures, Union Square Ventures, DCM, and Nyca Partners, and is headquartered in San Francisco, California. Learn more at www.sigfig.com.