For its present 401(k) and workplace retirement programme clients, the UBS Group is launching a digital platform for financial counselling in order to attract and benefit from them.
A total of more than two million UBS employees are presently enrolled in retirement plans handled by the Swiss financial services company. Our advisers can assist employees who do not already work with UBS advisors but who have between $250,000 and $2 million in assets to invest in our firm.
This group of employees may not be interested in placing their money in the hands of a financial advisor, but UBS hopes to change that by developing an online platform that will feature videos from financial professionals.
At UBS, which employs 200 market forecasters worldwide, financial advisors may provide guidance on a variety of important life milestones, such as purchasing a home or beginning a family.
Citigroup’s new digital approach will assist a number of financial institutions, including Charles Schwab SCHW, Morgan Stanley MS, and Fidelity Investments.
According to a report in the Wall Street Journal, UBS’s strategic counsel William Whitt of the Aite-Novarica Group stated that the bank is aiming for the “absolute pinnacle of where a hybrid digital business may thrive.”
Over the previous five years, the bank has more than doubled its profit margin in its wealth management area, primarily as a result of increased service.