April 5, 2018 - NEW YORK - UBS Wealth Management USA has introduced its first digital advice platform in the US to clients of its UBS Wealth Advice Center. The UBS Advice Advantage platform offers portfolio diagnostics, goals tracking features and access to a new investment advisory product, the UBS Advice Portfolio Program. In addition to the new digital service and product, all clients will continue to have access to financial advisors at the UBS Wealth Advice Center.
UBS Advice Advantage is UBS’s first platform designed with SigFig, an independent San Francisco-based wealth management technology company. The firms worked closely together to integrate the service within the UBS Online Services client website. The platform was also customized to incorporate UBS research and market views in the diagnostics and portfolio construction.
“We saw an opportunity to enhance the advisor-client relationship with an innovative product that meets our clients’ needs and maintains the critical elements and trust we have cultivated over decades," said Rich Steinmeier, Head of Digital Strategy and Platforms at UBS Wealth Management USA. "For us, embracing the right type of technologies, while deepening our relationships with emerging affluent clients was key to creating the UBS Advice Advantage platform."
UBS Advice Advantage also lets clients get UBS analytics on accounts they have at other financial institutions. The functionality is intended to provide clients a broader view of their financial picture to help them make informed decisions, as well as see how UBS may be able to help enhance their overall investment strategy.
The new online investment advisory product, the UBS Advice Portfolio Program, features risk assessment, online enrollment, regular monitoring for rebalancing, tax loss harvesting functionality, and ongoing professional portfolio management aligned with UBS GWM CIO capital markets assumptions. Online account management features are also available. All of the portfolio diagnostics services are complimentary. The advisory program has a minimum investment of $10k with an advisory fee of 0.75% of invested assets.
“Technology is changing how people invest and playing a critical role in how financial institutions are improving the overall client experience,” said Mike Sha, CEO of SigFig. “Working alongside specialists from UBS allowed us to integrate the capabilities of SigFig’s digital wealth management platform into UBS’s well-regarded wealth management offering, further enabling them to meet the needs of their clients."
In designing for the future, UBS and SigFig are focused on close collaboration with Financial Advisors, and have already held joint Advisor Technology Research and Innovation Labs. The forums put UBS specialists and Financial Advisors together with SigFig developers and designers to help envision new, leading digital capabilities for UBS Wealth Management USA and its clients and FAs.
Notes to Editors:
UBS provides financial advice and solutions to wealthy, institutional and corporate clients worldwide, as well as private clients in Switzerland. UBS' strategy is centered on our leading global wealth management business and our premier universal bank in Switzerland, enhanced by Asset Management and the Investment Bank. The bank focuses on businesses that have a strong competitive position in their targeted markets, are capital efficient, and have an attractive long-term structural growth or profitability outlook. Headquartered in Zurich, Switzerland, UBS has offices in 52 countries, including all major financial centers, and employs approximately 60,000 people. UBS Group AG is the holding company of the UBS Group. Under Swiss company law, UBS Group AG is organized as an Aktiengesellschaft, a corporation that has issued shares of common stock to investors.
UBS Advice Advantage is available in the U.S. through UBS Financial Services Inc., a registered broker-dealer and investment adviser.
About UBS Wealth Advice Center
The UBS Wealth Advice Center (WAC) delivers wealth management advice to emerging affluent clients in support of the Wealth Management USA U/HNW strategy. The team of Financial Advisors, who are located in Weehawken, NJ and Charlotte, NC, provides insights-based advice and delivers solutions that are tailored to meet the needs of emerging affluent clients.
Founded in 2007, SigFig is a financial technology company that’s improving how we invest by making high-quality investment advice more accessible and affordable to investors of all wealth levels. For consumers, SigFig empowers them with the information and guidance to achieve their personal financial goals. For some of the world’s largest and most innovative financial institutions, SigFig’s Enterprise Digital Wealth Management platform enhances the investor-client relationship, optimizing over $400B in assets around the world. 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 deliver an enhanced offering for clients.
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.