UBS has agreed to acquire California-headquartered digital-only wealth platform Wealthfront as part of a wider plan to target scalable growth in the affluent investor space across the world. The all cash agreement to acquire Wealthfront, which has over $27bn of assets under management and more than 470,000 clients in the US, valued it at $1.4bn. The deal, announced on 26 January, will allow UBS to accelerate its growth plans in the US, increase reach into the affluent segment as well as expand distribution and other capabilities. UBS group chief executive Ralph Hamers said in a ...
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