UBS Advice is expected to be launched in July, aimed at high net worth individuals in Taiwan. The service is already available in Hong Kong and Singapore.
The service builds a portfolio considering a client’s needs and risk profile. The investment advice is based on UBS Investment’s house views and the portfolio is maintained through the firm’s weekly portfolio monitoring system.
Dennis Chen, group managing director and head of wealth management in Taiwan, claims that the service has the potential to transform the wealth management business in Taiwan due to the structured advisory approach.
UBS has had a presence in Taiwan since 1988, and has offered wealth management services to high net worth individuals since 2000.
In 2014, the wealth of Taiwan’s billionaires surged by 14% to $57bn, as the number of billionaires increased to 29 from 25, according to UBS data.