21st November 2023


Gamifying Portfolios: How UBS Uses a Digital Tool to Attract New Clients

UBS leverages a digital portfolio dashboard to draw in fresh clientele and enhance product development.

The realm of wealth management has historically exhibited resistance to digital innovations. However, UBS's My Way portfolio customization application has managed to gain traction among both major and minor clients.

Following a successful introduction in its native Swiss market, this digital dashboard has now made its way to the UK market. On first impression, the application resembles the interface of a streaming service, allowing clients and their advisors to swiftly and intuitively personalize investment portfolios by selecting from a menu of 60 investment building blocks.

The initial reference point is UBS's in-house perspective from the Chief Investment Office, encompassing equities, fixed income, and alternatives. Nevertheless, clients retain the flexibility to tailor their allocation preferences within the boundaries of their risk tolerance.

The entry threshold for utilizing My Way is set at £500,000, thereby granting smaller clients access to a level of customization previously unattainable. However, certain features, like single bonds, require a minimum investment of £300,000.

The digital tool has garnered favor among existing clients, but UBS perceives it as a means to allure new customers who do not yet hold accounts with the bank.

Embracing a Hybrid Approach

The introduction of My Way does not signal the imminent obsolescence of relationship managers. This represents a hybrid wealth management solution, where advisors collaborate with client consultants to express investment views.

My Way offers the advantage of expediting the formulation of investment proposals, incorporating client preferences virtually in real-time. One client reported that the team delivered a proposal in just 48 seconds, a task that typically takes a bank 48 hours.

Relationship managers can also identify clients with exposures to investments that may warrant reconsideration, particularly concerning thematic stock concentrations.