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UBS Revamps iPhone App With Client, Advisor Feedback

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UBS AG’s headquarters in Zurich, Switzerland. (Photo: Gianluca Colla/Bloomberg)

UBS Wealth Management USA closely collaborated with UBS financial advisors and clients on a completely redesigned version of the UBS Financial Services iPhone app it just launched, the firm said Monday.

The new version of the app was “designed to help clients gain a more complete picture of their total wealth, and get insights and research in new ways through their mobile device,” according to UBS.

The app, developed in collaboration with Deloitte, focuses on asking real-life questions to “shape a personalized user experience” for clients, UBS noted. Those important questions include: What are you passionate about? Who are the people you care about most? What do you really want to do with your wealth and life?

Using the new version of the app, clients can “uncover tailored insights that help them visualize their financial journey in new ways,” UBS said. The app also “encourages clients to have more informed and enriched conversations” with their UBS financial advisors to help them reach their personal financial goals, it noted.

The app also adds functionality that allows clients to set and track financial milestones, alongside enhanced online account management features, UBS pointed out.

Other specific features of the redesigned UBS Financial Services iPhone app include: “On-the-go simplicity to help” users manage their wealth; one-click connection to the user’s advisor; simple payments, transfers and card security management; a “more holistic view of their finances, whether at UBS or elsewhere”; “clearer milestone visualization to help plan for the future”; and new tools for managing personal cash and viewing banking-related activities at a glance, the company said.

It wasn’t immediately clear how popular the prior version of the app was or when it originally launched, and UBS didn’t immediately respond to a request for comment.

“To design an individualized experience for each client, we worked closely with our clients and financial advisors as part of the design process,” Kraleigh Woodford, head of Digital Client Experience at UBS Wealth Management USA, said in a statement. She added: “These efforts enabled us to create a slate of unified, digital experiences centered around our clients. We’re presenting new features to enable clients to have deeper conversations and help them fulfill their own financial goals.”

The redesigned iPhone app follows last year’s launch of a new UBS iPad app that the company said at the time was also designed to help clients gain a more complete picture of their total wealth. “Through many rounds of client and financial advisor co-creation,” UBS decided to include “several exciting new features such as helping clients visualize their life milestones on a timeline and making goals more personal by giving clients the opportunity to tie milestones to people,” it said in April.

“This is only the beginning,” Woodford said at the time. “The new iPad app, our personal financial management tools and UBS Advice Advantage, our advisor-enabled digital advice solution — each are a critical part of our broader client digital strategy. Expect more client-centric innovations ahead,” she said.

— Check out Best & Worst Wealth Firms for Mobile Apps: J.D. Power, 2019 on ThinkAdvisor.


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