One of the key challenges facing wealth managers today is how to gauge the needs of their clients. UBS has designed an app that will help its bankers in the U.S. to collect information going far beyond the core financial interests.
What are you passionate about? Who are the people you care about most? What do you really want to do with your wealth and life?
These are questions that the wealth management of UBS will put to its U.S. clients soon with the help of an app it designed together with Deloitte consultants. The new app is designed to help clients gain a more complete picture of their total wealth.
Setting Financial Milestones
The bank worked closely with clients and financial advisers in the launch of the application, it said in a statement. The clients can expect tailor-made insights through the use of the app.
Apart from gathering information about the personal needs of clients with the help of algorithms, the app also introduces functionality that lets clients set and track financial milestones, alongside enhanced online account management features.
Granting a Holistic View Over Portfolios
In a bid to enhance the communication between client and relationship manager, the bank is introducing a one-click connection to the financial adviser. This feature sets the app apart from rival bids.
The app will also help customers keep a view over their finances at UBS and other companies, something that UBS rivals also are keen to introduce as it would help them in advising their clients.
