UBS closes robo-adviser to new clients

Sold to American SigFig

Hannah Godfrey
clock • 1 min read

UBS has closed its robo-adviser SmartWealth to new clients and sold the intellectual property rights to US-based firm, SigFig, for an undisclosed amount.

The Swiss firm suggested its reason for selling was that the near-term potential of the robo-adviser was "limited".   The decision to sell was made after conducting an assessment of the service. A statement from UBS said: "We are proud of the award-winning technology we have developed and were satisfied with the initial commercial progress of UBS SmartWealth. "Having conducted a thorough assessment, however, at this time we believe the near-term potential is limited and have therefore decided to close our digital-only offering in the UK. "We are pleased, however, to have entered...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Technology

AI won't take your job, but the adviser who masters it might

AI won't take your job, but the adviser who masters it might

'Advisers can't afford to be complacent when it comes to AI'

Samantha McBride
clock 10 March 2026 • 3 min read
Ammonite co-founder says AI suitability report tool could 'triple' adviser capacity

Ammonite co-founder says AI suitability report tool could 'triple' adviser capacity

Planbot launched by former adviser duo

Jen Frost
clock 26 February 2026 • 3 min read
Anthropic's latest AI plug in could 'trigger golden age of digital advice'

Anthropic's latest AI plug in could 'trigger golden age of digital advice'

AI firm launched wealth management plug in in US adviser space

Jenna Brown
clock 26 February 2026 • 2 min read