‘Robo-advisers’ to help wealthy US UBS clients

Technology automates investment management workflow to free up advisers’ time

 Swiss Bank UBS: Wall Street banks and investment firms are increasingly building or buying robo-advisers to add business while cutting costs. Photograph: Georgios Kefalas/EPA

Swiss Bank UBS: Wall Street banks and investment firms are increasingly building or buying robo-advisers to add business while cutting costs. Photograph: Georgios Kefalas/EPA

Financial services firm UBS is the latest to turn to so-called robo-advisers to help its wealthy clients in the United States.

The firm’s US wealth-management division is to use new technology developed by San Francisco start-up SigFig Wealth Management. UBS is also taking an undisclosed stake in the start-up. The firms will form a research lab to collaborate on new wealth management tools as part of the venture, UBS said.

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