UBS, Credit Suisse, Brewin Dolphin, Fidelity in Investments this week

by | Dec 6, 2017 | Wealth management

  • UBS has said it will provide personalised recommendations and advice through its robo-advice website, not just guidance. The SmartWealth app recommends users one of five multi-asset strategies and the choice of investing using active or passive funds, with all-in fees typically 1.8% and 1.2%. It currently offers general investment accounts and ISAs, but there are plans to launch a SIPP and Junior ISA as well as expanding beyond the UK
  • Credit Suisse has said it will give 50% of its profits back to shareholders once it completes a three-year restructuring programme launched in 2015. The bank also revealed profit and cost-cutting targets for the next three years
  • Brewin Dolphin has announced that it is to offer two major new client-segmented services, a simplified mass-market proposition named WealthPilot and a family office-style high-end advisory. The announcement was delivered in full-year results for the business showing profit before tax 14.8% higher at £70m, on a 13.3% increase in client funds to £40.1bn
  • Fidelity International has revealed details of how its performance-related fee model, referred to as a ‘fulcrum fee’, will work. It will reduce the annual management charge on the new variable management fee share class by 0.10%. The variable part of the fee will slide up or down based on how the fund outperforms or underperforms relative to its pre-defined market index, after all fees and charges, to a maximum of +0.2% above the annual management charge, and will go as low as -0.2% below the annual management charge