Selected UK independent financial advisors are being given access to the UBS open architecture platform, allowing them to use the Swiss bank...

Selected UK independent financial advisors are being given access to the UBS open architecture platform, allowing them to use the Swiss bank’s execution, custodial and investment research services. The selection process has already started, but the “external asset manager programme” will become fully operational in 2007, a spokeswoman for UBS told WealthBriefing. UBS intends the programme to be part of a process of embedding into the UK home market rather than being seen as a purely Swiss operator. IFAs whom UBS assess as being interested in building a stronger business for themselves will be eligible for the inclusion in the programme if they are seen as a good fit in terms of the UBS client offering, brand and culture. They must also be fully-fledged investment managers under the CF 27 regime. The programme, which is already running in Switzerland and Germany is seen by UBS as being an extension of its ubiquitous “You & Us” branding. UBS has already negotiated its first UK partnership agreement with Investment Quorum, a large City of London-based IFA, which has around £70 million under advice. A version of the IFA support concept has already proved itself in the UK by US-based Raymond James Investment Services, which, since 2001, has offered independent contracting to entrepreneurial stockbrokers, investment advisors and fund managers wanting to start their own business with the support of a large group.