UBS Partners With Broadridge to Help its Human Advisors

1 de noviembre, 2018

Tiempo estimado de lectura: 2 minutos

This makes UBS the first major client of The Broadridge Wealth Platform, which will help the investment bank’s 7,000 advisers and staff with front- and back-office tasks, including account opening and trade routing.

To provide these services, Broadridge uses AI, cloud, and digital capabilities. No financial details of the partnership were disclosed.

If more companies opt to use Broadridge’s wealth management platform, UBS will get a price cut. The cost of services, including regulatory compliance — which Broadridge has to provide to all of its clients — will be shared among all users, making the platform cheaper as more companies connect to it. This is possible because Broadridge provides these services in the same way to all its clients, according to Thomas Giacalone, UBS head of operations for wealth management in the Americas, cited by Reuters. If UBS finds success with the platform, it seems likely that many other players will follow suit, making the service cheaper for everyone.

This partnership comes at a time when UBS is trying to grow its customer base in the US. UBS aims to bring in 70 billion Swiss francs ($69.84 billion) from the US in the next three years, according to Reuters. By using Broadridge’s technology to enhance the operations of its staff and advisors, UBS should be able to onboard customers at a quicker pace and give them advice faster, which will likely improve their satisfaction. Partnering a third-party to provide these services enables UBS to go to market quicker, and we will likely see more incumbents taking this route to boost their capabilities, as competition from digital wealth managers increases.


Fuente: Business Insider

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