ZURICH (Sept 27): UBS, the world's largest wealth manager, is convinced its new online private bank needs to get bigger. Digital wealth managers are dwarfed by established banks like UBS, which manages more than US$2 trillion in client assets. But their lower-cost model of building an investment portfolio based on a client's risk appetite is seen as a possible threat to private banking's traditional advisory model. One avenue for UBS to scale up SmartWealth is the bank's One Wealth Management Platform, on which Zeltner expects more than 85% of its assets will be by the end of the year. Credit Suisse, which competes directly with UBS in wealth management, has taken a different approach and is more active in areas such as ship financing.

Source: The Edge Markets September 27, 2017 15:56 UTC