UBS to launch 'robo-advice' service

From a minimum investment of £15,000, SmartWealth will recommend regulated investment strategies based on a client's attitude to risk while also taking into account their life stage, assets and goals. A select group of customers will have access to the proposition from November before its full launch early next year. Consumers will pay all-inclusive rates of 1% for passive portfolios and 1.7% for active portfolios. While UBS said  investment costs would decrease the more customers invest in the service, the group could not specify at what rate or basis they would do so. "Over recent years...