ZURICH — UBS, the world’s biggest manager of money for the wealthy, is going downmarket in a bid to scale up.Starting in November, the Swiss bank will give some UK customers with as little as £15,000 to deploy, access to an online service that invests their money based on information they provide about themselves.In time, other countries will be included in the SmartWealth platform, with the full UK roll-out set for early 2017.The project is part of a global drive to expand the bank’s wealth management business, in particular by taking advantage of advances in digital technology.UBS manages $2-trillion of client assets, mainly for high net worth and ultra-high net worth people, typically those with at least $2m and $50m to invest, respectively."This is a growing area for our business and I see it increasing in relevance, as well as extending to other locations over time," said Edmund Koh, head of wealth management in the Asia-Pacific region, who is leading the push.UBS is also openi...
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