Professional Adviser

UBS closes robo-adviser to new clients

Sold to American SigFig

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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. ...

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