Investments

UBS research shows how to service wealthy Millennials

UBS Wealth Management’s chief investment office has launched a white paper that concludes that automation and connectivity will further shape Millennials' wealth management tastes.

As technology diffuses, Millennials and their advisers look set to lead a wider movement beyond 'financial supermarkets' and towards broader, more personalised online wealth platforms, said the bank. 

This socially-connected era will favour online networks that can help advisers source global opportunities for clients, including generating social as well as financial returns on their capital, added the research.

According to a global UBS survey in October 2016, 43% of millennials see their technology skills as a positive future influence on their financial security, ranking fourth out of 16 factors. By contrast, only 36% said the same about their country's job market. 

Overall knowledge ranked first, with 61% seeing their level of education as a plus, indicating the high value of digital information to advisers and their millennial clients. 

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