UBS and SigFig to Form Strategic Alliance for Wealth Management Technology Development
May 16 2016 - 9:15AM
Business Wire
UBS Makes Equity Investment in SigFig, Will
Create Joint Advisor Technology Research and Innovation Lab
UBS Wealth Management Americas (WMA), and SigFig, an independent
San-Francisco-based wealth management technology company, today
announced that they have agreed to form a strategic alliance to
develop financial technology for UBS WMA, its financial advisors
and their clients.
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As part of this strategic alliance, SigFig will create and
customize digital tools and services for UBS WMA's 7,000 advisors
that will complement their expertise and enhance their clients’
digital experience. This best-in-class digital platform will
improve the ability of UBS advisors to efficiently provide advice
on assets held at UBS and other institutions, a critical factor in
providing truly personalized financial advice across the complete
range of client needs.
To further strengthen this alliance, UBS WMA has also made an
equity investment in SigFig – underscoring UBS WMA's long-term
confidence in SigFig's platform, innovative technological
capabilities, and management. Additionally, UBS and SigFig will
create a joint Advisor Technology Research and Innovation Lab,
where the companies will continually collaborate on new wealth
management technology tools. The companies envision the lab as a
forum where UBS financial advisors, product experts and
technologists can join with SigFig’s experts in digital
technologies and design to develop leading technology capabilities
for UBS WMA and its clients.
"This alliance will strengthen our advisors’ ability to provide
outstanding client experiences and outcomes by combining our
expertise in relationships and personalized advice with SigFig's
skills in technology, data science, design, and development," said
Tom Naratil, President of UBS Americas. "It is vital for our
industry to innovate and provide advisors with advanced technology
that enables service, advice and access aligned with how clients
live their lives today."
“It is an honor to have been selected by a company with the
reach and stature of UBS Wealth Management Americas for this
strategic alliance. In today's market, it is increasingly important
for financial firms to have access to the best technology
possible," said Mike Sha, CEO of SigFig. "As a Silicon Valley
company, SigFig can quickly innovate and deliver custom digital
wealth management solutions tailored to the specific needs of an
individual financial institution and its clients. Major enterprise
partnerships are a key part of continuing to expand the reach of
SigFig's investment technology platform, and we are excited to work
with UBS WMA.”
Notes to editors
About UBS Wealth Management
Americas
Wealth Management Americas is one of the leading wealth managers
in the Americas in terms of financial advisor productivity and
invested assets. Its business includes UBS’s domestic US and
Canadian wealth management businesses, as well as international
business booked in the US. It provides a fully integrated set of
wealth management solutions designed to address the needs of ultra
high net worth and high net worth clients.
About UBS
UBS provides financial advice and solutions to wealthy,
institutional and corporate clients worldwide, as well as private
clients in Switzerland. The operational structure of the Group is
comprised of our Corporate Center and five business divisions:
Wealth Management, Wealth Management Americas, Personal &
Corporate Banking, Asset Management and the Investment Bank. UBS's
strategy builds on the strengths of all of its businesses and
focuses its efforts on areas in which it excels, while seeking to
capitalize on the compelling growth prospects in the businesses and
regions in which it operates, in order to generate attractive and
sustainable returns for its shareholders. All of its businesses are
capital-efficient and benefit from a strong competitive position in
their targeted markets.
About SigFig
SigFig is dedicated to making high-quality investment advice
more accessible and affordable to investors of all wealth levels.
Using a combination of design, data science, and technology, SigFig
helps empower investors with the information and guidance they need
to achieve their personal financial goals. Through partnerships
with some of the world’s largest and most innovative financial
institutions, SigFig’s Enterprise Digital Wealth Management
platform helps millions of people around the world track and
optimize over $400B in assets. Its battle-tested enterprise
technology accelerates time to market for its partners, while doing
so in a secure, scalable, and compliant way. And its product,
design, and growth labs fuel innovation, accelerate adoption, and
create delight for clients.
Founded in 2007, SigFig is backed by top-tier venture capital
firms, including Bain Capital Ventures, Union Square Ventures, DCM,
and Nyca Partners, and is headquartered in San Francisco,
California. Learn more at www.sigfig.com.
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Media InquiriesNew York:Gregg Rosenberg,
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