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Portfolio > Portfolio Construction

UBS Launches Robo-Advice Platform

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Two years after announcing its fintech partnership with SigFig, UBS is launching a digital-advice platform: UBS Advice Advantage. Mass-affluent investors with $10,000 or more can sign up for the platform, which has a yearly fee of 75 basis points for its portfolio program.

“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, in a statement. “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.”

The platform includes tools for portfolio diagnostics, goals tracking, the UBS Advice Portfolio Program and analytics on accounts held at other financial institutions. Plus, clients can work with financial advisors by phone via the UBS Wealth Advice Center.

The portfolio program lets investors work on risk assessments, rebalancing monitoring, tax loss harvesting and portfolio management aligned with UBS Global Wealth Management CIO capital markets assumptions.

“Technology is changing how people invest and playing a critical role in how financial institutions are improving the overall client experience,” said SigFig CEO Mike Sha, in a statement. “Working alongside specialists from UBS allowed us to integrate the capabilities of SigFig’s digital wealth management platform into UBS’ well-regarded wealth management offering, further enabling them to meet the needs of their clients.”

Wells Fargo, which also is working with SigFig, rolled out its digital offering in November 2017. Its Intuitive Investor can be used by clients investing $10,000 for a fee of 50 basis points (40 basis points for clients with $25,000 in deposits or $50,000 in combined banking, brokerage and credit assets at the bank).

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