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June 24, 2020

UBS offers US clients access to free strategies run by outside asset managers

UBS has decided to offer its wealthy customers in the US the choice to invest in zero management fee equities and fixed-income strategies managed by third-party asset managers.

The customers of the Swiss wealth manager will get access to separately managed accounts (SMA) run by firms such as Goldman Sachs Asset Management, Pacific Investment Management, and Invesco.

These offerings, generally offered clients as customised investments to wealthy clients, generated $9bn of flows into UBS’s asset-management unit in the first quarter.

UBS Global Wealth Management head of wealth management USA Jason Chandler said: “This is a win for our clients and advisors – we’re simplifying SMA client pricing, expanding choice and transparency, and aligning our offering with the SEC’s Regulation Best Interest.

“At the same time, we’re investing in our advisors’ success, enhancing our advisory value proposition, and giving clients increased pricing flexibility.”

UBS in its press statement said that from 7 June it clients will get access to nine strategies from Active Index Advisors, Breckinridge Capital Advisors and Goldman Sachs Asset Management.

A month later, the Swiss wealth manager will add nine more strategies offered by Franklin Templeton, Invesco, Brandes Investment Partners and Pimco.

UBS will make all these strategies available through its ACCESS, Strategic Wealth Portfolio (SWP) and/or the recently launched Advisor allocation Program (AAP) platforms.

The company’s head of Americas Advisory and Planning Products Steve Mattus said: “We’re committed to open architecture and are delighted that a premier group of asset managers have joined UBS Asset Management in this approach.

“We focus on delivering the best ideas, solutions and capabilities to our clients regardless of where those resources originate.”

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