This article will review UBS Monaco Wealth Management’s solution.
You can find our review of UBS Wealth Management here.
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The information in this article is for general guidance only. It does not constitute financial, legal, or tax advice, and is not a recommendation or solicitation to invest. Some facts may have changed since the time of writing.
UBS
Also known by the names of ‘UBS Group AG’, UBS is an investment bank cum financial service provider that is based in Switzerland.
It was founded in the year 1998 by the merger of Union Bank of Switzerland and Swiss Bank Corporation. The headquarters of UBS is located in Zurich, Switzerland and the worldwide employee count is around 60,000 people (approx.).
The primary products and services offered by UBS are Investment Banking, Wealth Management, Private Banking, Investment Management, Asset Management, Corporate Banking, Retail Banking, Finance & Insurance, Credit Cards, etc.
The services of UBS are accessible in more than 40 countries and it is also ranked as one of the top investment banks as well as wealth manager.
According to the statistics available publicly, the financial details of UBS as of 2018 are as follows:
- Total Assets – $958 billion
- Total equity – $52.92 billion
- Net Income – $4.5 billion
- Operating Income – $5.99 billion
- Revenue – $30.2 billion
UBS is constituted of 4 major divisions, which are ‘Global Wealth Management’, ‘Personal & Corporate Banking’, ‘Asset Management’ and ‘Investment Bank’.
Global Wealth Management division
UBS’s global wealth management services are specifically designed for the higher-net-worth individuals in the world. With the help of these services, individuals can expect to get access to a wide range of products and services related to advisory & investment.
According to the statistics of 2018, UBS has been known to be managing the largest amount of private wealth when compared to other contenders in this category.
By the end of the year 2018, it was estimated that the wealth management division of UBS had an employee count of 23,600 people across the world.
In the category of wealth management, the main rivals of UBS are ‘BOA (Bank of America)’, ‘Morgan Stanley’, ‘JP Morgan Chase’, ‘Wells Fargo’, etc.
Personal & corporate banking division
Under this division of UBS, financial products and services are offered to retail clients, corporate clients as well as institutional clients.
The products and services under this division are cash accounts, savings accounts, payments & retirement solutions, residential mortgages, advisory services and investment fund products.
Asset Management division
As for the asset management division of UBS, a wide range of products are offered, such as equity, currency, hedge fund, real estate and many more. As of 2020, UBS had around $928 billion worth of invested assets.
Asset Management services are provided in 22 countries and the employees involved in the activities of asset management are around 3,500.
The rivals of UBS in the asset management category are ‘BlackRock’, ‘Vanguard Group’, ‘State Street Global Advisors (SSGA)’, ‘Fidelity Investments’, etc.
Investment Bank Division
The Investment Bank division of UBS provides services that belong to securities, financial products, research in equities, credit, foreign exchange (FOREX), precious metals, etc.
The Investment Bank division of UBS is known to be having its presence in around 33 countries including some of the major regions such as ‘Shanghai’, ‘Singapore’, ‘Tokyo’, ‘Zurich’, ‘Frankfurt’, ‘Chicago’, etc.
The competitors of UBS in the Investment Banking division are ‘Goldman Sachs’, ‘JP Morgan Chase’, ‘Merrill Lynch’, etc.
Fees for Wealth Management at UBS
There are two types of payment models of UBS on which it relies. They are the fee-based model and performance or incentive-based model.
The performance/incentive-based model requires a fixed commission or fee based on the client’s assets under management. The capital manager also charges a percentage based on the growth of the client’s wealth. However, if the manager fails in the process, he/she will not be able to charge the commission.
The fees are to be paid on a quarterly basis. There also exists an annual fee, for which the maximum limit is 2.5% of the assets managed.
UBS in Monaco
UBS has been operating in Monaco for more than 60 years as a part of its worldwide wealth management services and has an employee count of around 200 in Monaco.
At UBS Monaco, 65% of investors are involved in sustainable investing and around 54% of those clients have $50million or more worth of assets in sustainable investing.
The sustainable investment assets under management at UBS were $488 billion as of 2019.
The major services offered to the customers in Monaco by UBS are ‘Wealth Management’, ‘Asset Management’ and ‘Investment Banking’.
Wealth Management at UBS Monaco
Wealth Management at UBS Monaco is known to be unique and one of a kind. They try to meet the needs of a client by getting to know about their goals.
A few examples of the goals include Retirement Planning, Children’s Future, Business Growth, Family Goals, etc., which make a major impact on a person’s life.
They also help people achieve their sustainable development goals, which are aimed to prevent environmental damage, poverty and inequality.
They also provide some tools and insights, so that the client can acquire the best in class services when it comes to wealth management.
Asset Management at UBS Monaco
When it comes to asset management, there are many options available for the investors at UBS. The Asset Management activities of UBS are done on a large scale in 22 countries.
The investment opportunities are available in both traditional and alternative forms. Asset Management services at UBS are specialized for institutions, wealth management clients and wholesale intermediaries.
The range of products and services offered by UBS are equities, fixed Income, hedge funds, liquidity & cash management, multi-assets, real assets, ETFs, UBS platform services, sustainable investment opportunities and impact investing opportunities.
Investment Banking at UBS Monaco
Along with wealth management and asset management, UBS also specializes in Investment Banking.
Under the category of Investment Banking, UBS offers a wide range of services and products such as bespoke financing, debt and equity capital markets, ESG and sustainability products, global financing, investment research, retail investment products, etc.
Protection of Assets at UBS Monaco
If there were ever a situation to occur, such as failure of the bank, clients will be offered protection and compensation from the ‘Deposit Insurance – FGDR (Fonds de Garantie des Dépôts et de Résolution)’.
FDGR also has the right of interfering before there happens any sort of bankruptcy, in order to safeguard the customers.
Bottom Line
UBS is known to be one of the most reputable wealth managers available in the world. They are well known for the services they provide and the products they offer.
However, there are some other institutions that are known to perform better compared to UBS. Therefore, UBS cannot be said as the best available option for all the individuals; however, it cannot be considered as the worst option available either.
In order to obtain the wealth management services, people would also require other types of professional services. Therefore, it is highly suggested that only the individuals who are able to bear the amount of fees and charges that can occur should proceed to acquire wealth management services.
Further Reading: Hansard International Vantage Platinum II Review
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