UBS Shuts Smart Wealth Platform and Sells it to SigFig - LendIt News

UBS has shut down their Smart Wealth platform only a year after launch, saying they did not see the near term commercial potential; UBS has sold the intellectual property to U.S. wealth management firm SigFig, where UBS has an equity investment; “We believe the decision serves the best interests of the business and will allow us to invest further in other client-facing improvements, whilst sharing in the future success of the IP we have created via our equity holding and ongoing partnership with SigFig,” explained a UBS spokeswoman. Source.