UBS Launches New Tool for Wealthy US Clients

UBS launches a new tool providing ultra-high-net-worth clients in the US with a consolidated real-time overview of their entire portfolio.

A new wealth analysis and reporting platform in collaboration with IT companies Addepar and Mirador is the latest fintech offering from UBS. The new tool provides a streamlined, real-time summary of clients’ entire portfolios of various asset classes, Switzerland’s largest bank said in a statement.

The tool also gives UBS financial advisors access to analytics enabling them to efficiently monitor their clients’ investment results, cash flows, and value. An added benefit is they will also be able to examine the outlook and risks in their client’s portfolios.

In announcing the new offering John Mathews, head of private wealth management at UBS, said we recognize that our advisors need an intuitive, visual, and modern offering that will provide a complete picture of their clients’ full portfolio – from stocks and bonds to alternative investments and their private art collections.

As part of Addepar’s partner ecosystem, Mirador’s financial data technology experts will support UBS’s advisors with data management, custom visualization, and tailored reporting, as well as operations and system maintenance.

In October, UBS launched a new digital wealth management service platform to tap into the Chinese wealth management sector. The mobile app, WE.UBS offers financial planning built on Big Data and views from the bank’s chief investment office.

In the US, however, the big bank backed out of buying digital wealth manager Wealthfront last September. Following the collapse of the deal, UBS said it would pursue an organic approach to bringing the next generation of wealth management clients into the UBS fold.

We are back to our organic plans,» UBS Group chief financial officer (CFO) Sarah M Youngwood told an audience at the Barclays Global Financial Services Conference, according to a report on the advisorhub portal.