UBS has unveiled its new digital wealth management platform to new and existing clients in the UK.

UBS has rolled out its new digital wealth platform with an investment minimum of £15,000 (around $18,000) to help reach a “new audience” in the UK.

The Swiss bank claims that SmartWealth "moves beyond simplistic algorithm-based investing" by providing investment strategies that mirror a client’s "individual financial situation", as well as taking into account their broader risk and investment objectives.

Shane Williams, co-head of the venture alongside Nick Middleton, said the platform also has a simple fee structure compared to other “robo advisors”.

Clients will be charged an annual fee, based on their total assets invested and the strategy they choose. Those who invest £15,000-£99,000, for example, will pay 1.10 per cent to 1.13 per cent for a passive strategy, or 1.47 per cent to 1.95 per cent for an active strategy.

“Up until now, technology hasn’t been used to help people make better investment decisions,” Williams said. “For the most part, so-called ‘robo-advisors’ have merely used technology to cut their own costs, in the meantime offering no actual advice at all.”

He added: “We are using new technology to provide regulated advice, education and investment information to our clients, all in one place.”

WealthBriefing spoke to Williams and Middleton at the end of last year about SmartWealth and the Swiss bank’s foray into the digital world. Read the interview here.