UBS UK robo consultants start
UBS Smart Wealth will offer less than £ 15,000 to invest online investment management services to individuals, UBS said on October 10 The service will be launched in November to a select group of customers to life, with a full launch expected in early 2017th
The platform, which was built internally by teams in London and Zurich, rated the life goals of customers and risk profiles and offers five standard investment strategies consisting created and managed by UBS of active and passive funds. Clients a 1% “all-in” will be provided Fee for passive funds and a 1.7% fee for active strategies into account, confirmed a spokesman.
UBS Smart Wealth will also take into account an overall financial situation of the user, including assets not held by the Bank.
The move comes as the market for digital asset management is becoming increasingly competitive, with large companies start services services to young start-ups encounter.
By automating and investments in low-cost ETFs, robo consultants are able to provide investment management services to clients, which have been regarded as too expensive to operate through a traditional face-to-face model ,
Earlier in October revealed Merrill Lynch plans to robo consultants in the US to start, while the German financial group Allianz supports robo consultant Money Farm. Other large companies have launched platforms include Charles Schwab and Vanguard.
Dirk Klee, said Chief Operating Officer of UBS Wealth Management, in a statement. “Technology the way financial services are delivered changed The launch of UBS Smart Wealth shows that digital innovation is not the sole reserve of startups. Large market-leading institutions to explore the resources to test and build transformative new products and services. “
Klee said FN in an interview earlier this year that UBS was on a robo-advisory platform in Europe, describes the robo phenomenon known as “unstoppable.”
The aggressive reaction of big players has questions about the sustainability of independent consumer directed robo consultant raised to grow. While many robo-consulting startups financing across Europe continue to strengthen, and few disclose their assets under management.
Our Source: http://www.efinancialnews.com/story/2016-10-10/ubs-to-launch-robo-adviser-in-the-uk?mod=rss-fintech
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