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UBS wealth management notches another strong quarter

Meanwhile, the investment bank announced plans to launch a digital wealth manager in the U.S. next year targeting affluent clientele.

UBS global wealth management continued its strong 2021, and in the Americas region reported on Tuesday pre-tax profit of $559 million, up 51% year over year.
According to the company, this was supported by rising adviser productivity and record loan volumes, particularly in securities-backed lending and residential mortgages.

Meanwhile, its head count of financial advisers in the Americas region — the United States, Canada and Latin America — continued to decline, but appears to be stabilizing, dipping slightly this summer and reaching 6,266 at the end of September. That’s a drop of 1.4% compared to the same period a year earlier, but is basically flat from the end of June.

UBS global wealth management Americas reported annualized revenue per adviser of $1.7 million, a 26% increase from the same time last year and unchanged from the previous quarter.

UBS recently revamped its separately managed account program and reported more than $5 billion on inflows for the quarter and more than $83 billion since its launch at the start of 2020.

UBS Group also said on Tuesday that it is starting a digital wealth manager in the U.S. to grab a bigger share of the country’s market for retirement savings and stock options, in a move that will pit it against the top Wall Street banks on their home turf, according to a report from Bloomberg news.

global initiative for responsible investment