The mission of UBS Equity Plan Advisory Services is to help our clients attract, retain and reward their best employees. This includes improving the perceived value of awards in the minds of your participants. This inaugural issue of "What's new and next" updates you on our progress toward that goal. You will find information on our latest technology enhancements, participant services, industry developments and more. As always, we welcome your feedback. Until then, happy holidays from all of us at UBS.
In this issue
Administrative update: Ready to go pro?
We are very excited about the new UBS Plan Admin Pro platform, which enhances our administration capabilities and simplifies tasks for all users.
On December 11, UBS launched its first clients on UBS Plan Admin Pro, delivering cutting-edge, cloud-enabled technology. Now, outsourced clients will have one portal for recordkeeping, reporting, compliance and more.
Remaining clients will start migrating at the end of first quarter 2018 and continue throughout the year. Your relationship manager will be in contact with you in early Q1 to provide a proposed timeline for your upgrade.
Our goal is to make the transition to UBS Plan Admin Pro as seamless as possible—no formatting changes required, flexible file layouts accepted and plenty of training materials available.
Participant experience: Out with the old, in with the new
UBS is reimagining our UBS One Source participant website to create a more intuitive experience and deliver access to online advice and education. The new site will be rolled out in waves beginning in second quarter 2018.
Starting next year, UBS One Source will offer several new features:
- New Homepage with easier navigation, events calendar, notification center and tools to increase participant engagement (quizzes, challenges, etc.)
- New tabs for Awards Education and Financial Wellness that will replace the Knowledge Center. Now participants will see tools and videos, including interactive videos, based on their personal equity awards and financial needs
- New Holdings page that consolidates all equity awards, long shares and cash into a single summary view
- New Activity page that consolidates all order history into two summary views (transaction type and product type)
- New Transaction Wizard that simplifies the order-entry experience. Participants won't need a technical understanding of equity compensation or the jargon that goes with it ("good til canceled," "sell to cover"). The Transaction Wizard will ask plain English questions to find out what participants want to do… and help them do it.
In the news: Stay current
Get updates on developments in the equity compensation industry, and read about UBS in the news.
- For the first time, UBS Wealth Management Americas won Best Bank for Wealth Management in North America at the Euromoney Awards for Excellence 2017. The award reflects our commitment to holistic advice and helping our clients achieve their goals.
- To coincide with open enrollment season, we are pleased to share a white paper recently launched by UBS, which focuses on Corporate Health. The paper shares approaches companies can take to reduce rising healthcare costs for employee populations in both developed and emerging markets. The paper also includes recommendations to help companies better manage this important area.
- Tax Reform: Given the fluidity of the proposed Tax Cuts and Jobs Act legislation, we will host a webinar after the bill is signed into law to discuss the impact to stock compensation.
- 25th Annual NASPP conference: During the week of October 17, UBS joined over 1,700 equity compensation industry professionals in Washington D.C. While at the conference, we were very busy! Over 2 ½ days, members of the UBS team engaged with clients and industry leaders, participated on conference panels, and hosted a very unique event with award-winning journalist, Bret Baier, Chief Political Anchor for Fox News. There was an especially exciting buzz for UBS at the conference this year (view video). We were delighted in the interest to share updates on: the introduction of UBS Plan Admin Pro, enhanced digital capabilities for participants, the ability to deliver advice and education to all participants, and our upcoming Workplace Financial Wellness offering.
UBS Leadership update
- We are proud to announce that our very own Paula Polito, Client Strategy Officer of UBS Wealth Management Americas, with oversight for a number of WMA businesses, including the EPAS business, has been named one of the most powerful women in finance by American Banker magazine for the third year in a row. The list recognizes 25 women in non-bank finance whose outstanding performance, leadership and influence are driving change.
- To ensure we are best positioned to service you and help your employees manage the financial challenges and decisions they face, we are pleased to announce the following additions to our EPAS team:
- Sudhir Tauro joined the group as the leader of our participant digital experience. In his role he is responsible for the overall digital strategy for the participant experience across all channels. Sudhir has over 15 years of financial services and management consulting experience specializing in wealth management, corporate services, digital transformation, sales and service optimization and platform management. Most recently, Sudhir was Chief Operating Officer for Sales and Service at E*TRADE, responsible for platforms, roadmaps and implementation of a wide range of strategic initiatives for both the equity plan and retail businesses.
- Marc Montanaro joined the team as Head of Corporate Sales. Prior to this role, Marc was the Global Head of Human Resources for all UBS Corporate Center businesses responsible for overseeing the leadership and execution of the human resource strategy, policies and programs for 20,000 of UBS's 60,000 global employees. Marc is a seasoned HR leader with 20+ years of experience.
- Nupur Bahal joined the team in a new role as Head of Workplace Financial Wellness. Prior to joining UBS, Nupur spent 13 years with Fidelity Investments, where she held various leadership roles and helped drive B2B and B2C growth in Fidelity's stock plan, retirement, financial wellness and retail brokerage businesses. Prior to Fidelity, Nupur held roles in strategy, planning and business development at firms including Merrill Lynch.
- Paul Garbis is now leading our service delivery group as Head of Corporate Service. Prior to this role Paul was the Chief of Staff for our EPAS business. Paul has held leadership roles in his 20 + years of experience in the equity plan industry and as a Chief Operating Officer in the retail industry. Paul has in-depth knowledge of corporate services and an extensive background in operations and process excellence.
A look ahead: Mark your calendar
First quarter is always a busy time in equity compensation, with tax season in full swing. Here are key operational dates to be aware of:
- January 1 – Don't forget to reset YTD compensation limits to zero
- January – December – UBS Plan Admin Pro migrations underway
- January – IRS tax forms (1099 (B, DIV, MISC), 3921, 3922, 1042-S) begin mailing
- March 27 – CEP Symposium, Santa Clara, CA
- April 15 – IRS tax filing deadline
- April 24-26 – Global Equity Organization annual conference, Orlando, FL
- June – UBS One Source enhancements launch