(New York)

UBS has just launched its own robo advisor, which means that every wirehouse now has their own robo service. UBS’ new service caters to client with under $250,000 in their portfolio. The robo provides “risk assessment, online enrollment, regular monitoring for rebalancing, tax-loss harvesting functionality, and ongoing professional portfolio management aligned with UBS GWM CIO capital markets assumptions”. UBS joins Merrill Lynch’s robo launch a year ago, as well as Wells Fargo and Morgan Stanley’s platforms.

FINSUM: After all the fear and anxiety, robo advisors seem to have found a comfortable niche alongside human advice.