The service, known as UBS Advice, monitors clients’ portfolios against a set of pre-defined criteria and then generates customised investment opportunities, the firm said.
It provides clients in Taiwan “access to systematic overnight portfolio screening”, added Dennis Chen, group managing director and head of wealth management for Taiwan.
UBS Advice was first launched in Zurich in 2013 and in Singapore and Hong Kong last March.
Since the launch in 2013, clients have invested CHF21bn ($22.2bn) of assets through the platform, said Edmund Koh, group managing director and chief executive of wealth management for Southeast Asia and Asia-Pacific.
The firm sees huge potential in the wealth management industry in Asia-Pacific and Taiwan, said Koh.
In 2014, the wealth of Taiwan’s billionaires surged by 14% year-on-year to $57bn, as the number of billionaires increased to 29 from 25, according to the Wealth X and UBS Billionaire Census 2014.
The firm recently rolled out a wealth management app in Asia.
The use of digital tools and platforms by the wealth management industry is gaining traction in Asia. Recently, a UK- based company launched an online service in Singapore that aims to help high net worth individuals find wealth management firms.
Hong Kong-based 8 Securities recently started robo advisory services, which promises to offer customised solutions to investors at lower fees than traditional channels of investment.
A recent Cerulli Associates report forecast that digital disruption is changing the dynamics of the wealth management industry and it could also have an impact on the product manufacturing process.
