NEW YORK--(BUSINESS WIRE)--
UBS Global Wealth Management recently launched Retirement Plan Manager, a new advisory program designed to help financial advisors effectively and efficiently serve smaller participant-directed defined contribution retirement plans with less than $5 million in assets. The program has been launched under a new offering called UBS Retirement Plan Guided Solutions, a separate and distinct offering from the firm's existing Retirement Plan Consulting Services program.
Retirement Plan Manager offers discretionary investment management services from UBS with UBS acting as an investment manager under ERISA Section 3(38). Core client deliverables are managed centrally including fund research, investment decisions, ongoing investment reviews, fund replacement decisions and quarterly investment reporting. When it comes to recordkeeping and administrative support, Retirement Plan Manager is available through a selection of retirement plan providers, which differentiates it from other discretionary solutions in the marketplace.
In the last several years, the retirement plan market has experienced significant change, and these changes have underscored the importance of a plan sponsor's fiduciary responsibility. Greater awareness among plan sponsors about their fiduciary role is propelling the need for greater support. As a result, engaging with advisors for fiduciary investment advice is becoming the preferred way of doing business for plan sponsors, and demand is quickly spreading to the small plan market.
"Whether a plan sponsor is managing a 401(k) plan for a large Fortune 500 corporation or a small business, the importance of maintaining a well-run plan that helps employees save for retirement is the same for both – and their fiduciary responsibility is also the same," said Jim Hausmann, Managing Director, Head of Corporate Solutions & Retirement Services.
"We understand that plan sponsors of smaller plans are in need of support because they often don't have the experience or staffing to make important investment decisions. Retirement Plan Manager removes this burden for plan sponsors by providing them with a new offering that provides discretionary investment management based on the experience and resources of UBS."
Notes to Editors
About UBS
UBS provides financial advice and solutions to wealthy, institutional and corporate clients worldwide, as well as private clients in Switzerland. UBS' strategy is centered on our leading global wealth management business and our premier universal bank in Switzerland, enhanced by Asset Management and the Investment Bank. The bank focuses on businesses that have a strong competitive position in their targeted markets, are capital efficient, and have an attractive long-term structural growth or profitability outlook.
UBS is present in all major financial centers worldwide. It has offices in 52 countries, with about 34% of its employees working in the Americas, 34% in Switzerland, 18% in the rest of Europe, the Middle East and Africa and 14% in Asia Pacific. UBS Group AG employs approximately 61,000 people around the world. Its shares are listed on the SIX Swiss Exchange and the New York Stock Exchange (NYSE).
UBS Global Wealth Management
As the world's largest wealth manager, UBS Global Wealth Management provides comprehensive advice, solutions and services to wealthy families and individuals around the world. Clients who work with UBS benefit from a fully integrated set of wealth management capabilities and expertise, including wealth planning, investment management, capital markets, banking, lending and institutional and corporate financial advice.
Within the Firm's institutional and corporate offering, UBS provides consulting services to retirement plan sponsors through the UBS Retirement Plan Consulting Services Program which is comprised of a national network of experienced Retirement Plan Consultants who serve more than 2,000 retirement plans, representing more than $85 billion in plan assets.
In addition to retirement plan consulting, UBS offers financial solutions to corporations, institutions and not-for-profit organizations through a broad spectrum of other products and services, including Institutional Consulting, Equity Plan Advisory Services, Corporate Cash Management, and advisory services for executives. UBS offers corporate and institutional clients personalized service, integrated solutions and global expertise that can help them fulfill their responsibilities to their shareholders, employees and employee families.
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