UBS launches a new tool to attract its 401,000 clients

UBS Group launches digital financial advisory platform to appeal to current clients who have 401 (k) or workplace retirement programs and generate more profits.

The Swiss investment bank now targets around two million employees who have retirement programs currently managed by UBS. These employees do not currently work with UBS advisers and have $ 250,000 to $ 2 million to invest.

While these employees may not be keen on trading stocks or other assets in their portfolios or seeking advice from a financial advisor, UBS is trying to generate more interest from them by launching a digital platform. with videos from advisers.

UBS has a global team of 200 market forecasters and its advisers will discuss investing or financial planning for various life events, such as buying a home or giving birth to children.

The investment bank’s new digital strategy will help it compete with its competitors, including Charles Schwab SCHW, Morgan Stanley MS and Fidelity Investments.

According to a Wall Street Journal article, William Whitt, strategic advisor at Aite-Novarica Group, said UBS was aiming for “the sweet spot for a hybrid digital offering.”

Over the past five years, the bank has doubled its profit margin in its wealth management business by offering more services.

Comments are closed.