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UBS Launches Program for ‘Multicultural Investors’

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What You Need to Know

  • The Multicultural Investors Strategic Client Segment is a new business created by UBS.
  • It's focused on Asian American, Black, and Hispanic and Latino investors with investable assets of $1 million and above.
  • The new segment is led by Melinda Hightower, formerly of JPMorgan Chase.

UBS has launched a Multicultural Investors Strategic Client Segment focused on meeting the needs of U.S. investors from three of the largest racial and ethnic groups: Asian American, Black, and Hispanic and Latino with investable assets of $1 million and above.

The new segment is led by Melinda Hightower, head of the Multicultural Investors Strategic Client Segment at UBS Global Wealth Management. She is a registered advisor and broker, according to her report on the Financial Industry Regulatory Authority’s BrokerCheck website.

The wirehouse’s goal with the segment is to “build and enhance the UBS ecosystem to more effectively serve and benefit all investors through an inclusive, innovative experience,” it said in a news release.

To that end, it said, the segment will provide wealth management insights, inclusive investment solutions for investors who want to use their wealth to drive inclusion efforts, and advice to multicultural investors and their allies.

UBS advisors across the U.S. will work in close collaboration with the Multicultural Investors Strategic Client Segment to attract and serve their client’s individual needs, according to UBS.

Advisors will have access to multicultural-focused content exploring the intersection between culture, art, philanthropy and sustainability to help provide their clients and prospective clients with unique, community-building experiences and advice, UBS said.

“Multicultural investors are a sizable, yet underserved audience that are actively seeking wealth management advice,” according to Hightower.

“While investors often have the same overarching goals — to grow and preserve their wealth — their investment priorities, motivation, and views can differ widely across and within cultural groups, so it’s crucial we are prepared to support them on their wealth management journey,” she said in a statement.

Hightower joined UBS in 2021 from JPMorgan Chase. With over 20 years of experience, she “deeply understands the nuances of the segment,” UBS added.

“At UBS, we are reimagining the power of investing by adapting to the needs and preferences of current and prospective clients, as a result of the evolving financial landscape and societal shifts,” according to Jason Chandler, head of UBS Wealth Management USA.

“We believe it’s important to expand the multicultural wealth narrative, take action and show tangible progress to ensure multicultural investors receive the guidance and advice they need to bridge the trust gap with the financial services community,” he explained in a statement.

The new Multicultural Investors Strategic Client Segment joins UBS’s existing suite of services that the wirehouse said are targeted to focused client segments including women, business owners, athletes and entertainers, and most recently, the rising generation.