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UBS Plans Digital Investment Advice For Americans With Up To $2 Mln – Wealth Tech Digest #72

Key takeaways

✅ UBS Plans Digital Investment Advice For Americans With Up To $2 Mln

For today’s digest, Swiss bank UBS (UBSG.S) wants to build a digitally scalable advice model for affluent clients in the Americas with up to $2 million to invest. As part of its new 2025 strategic vision, the bank intends to provide wealthy clients in the Americas with a “seamless digital experience with remote human advice”. The world’s largest wealth manager is following a trend set by U.S. rivals Goldman Sachs (GS.N) and Morgan Stanley (MS.N). This trend, of course, is in looking to broaden their client bases beyond the super high net worth clients they traditionally serviced. Earlier this year, Goldman launched a digital wealth management service named Marcus Invest for customers investing a minimum $1,000. Morgan Stanley acquired E*Trade last year in a $13 billion deal executed in part to further its reach in the mass affluent sector. The banks are looking to earn money from a wider pool of clients as part of plans to develop more predictable revenue streams. On top of that, this is also aimed to reduce their reliance on unpredictable capital markets activities. UBS is targeting individuals with between $250,000 and $2,000,000 to invest, a demographic that is seen by analysts as having true growth potential. Wealth managers have been increasingly using fintech and artificial intelligence to tap into the mass affluent demographic. This strategy, of course, must include younger investors that are more comfortable investing online.


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