UBS Group is giving wealthy clients the option to invest in separately managed accounts using equity and fixed-income strategies run by outside managers without charging additional fees.
Rich customers can have access to firms including Goldman Sachs Group Inc.’s asset management unit, Pacific Investment Management Co. and Invesco Ltd., UBS said Tuesday in a statement. So-called separately managed accounts drove $9 billion of flows into the Swiss bank’s asset-management arm in the first quarter.
“We’re simplifying SMA pricing, expanding client choice and transparency,” Jason Chandler, the bank’s head of wealth management in the U.S., said in an interview. “This is a huge win for our clients and advisers.”
UBS’s financial advisers will be able to offer strategies from GSAM, Natixis SA, and Breckinridge Capital Advisors from July 7. Offerings from Pimco, Invesco, Brandes Investment Partners and Franklin Templeton will be available in August.
“What clients are looking for is lower management fees, but what we’re finding is that they’re willing to pay for advice and premium services,” said Steve Mattus, UBS’s head of Americas advisory and planning products. “Market volatility makes the value of those services higher.”
Chicago-based Mesirow Fiduciary Solutions adds flexPATH's plan-level outsourced fiduciary book, boosting its retirement market reach to $164 billion.
Also, Raymond James's employee advisor channel adds breakaways from Wells Fargo and Stifel, while UBS welcomes an ex-Morgan Stanley duo in Indiana.
It promised guaranteed principal and 10% monthly returns. The SEC says it invested nothing.
Ten years after entering the fee-based annuity market, MassMutual Ascend says nearly half its lifetime sales came in the past two years alone – but barriers remain among fee-only advisors.
Amplify, WealthReach, Zeplyn and Zocks have unveiled partnerships aimed at automating portfolio management, content creation, account opening, and client communication.
Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains
Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income
