UBS tailors advisor tools for minority clients with $1M+

One of the largest wealth managers is trying to engage a client segment spanning as many as 2 million people who are part of groups that have historically been excluded by the industry.

Launched on Jan. 25, The UBS Wealth Management USA Multicultural Investors Strategic Client Segment is offering the firm’s roughly 6,200 financial advisors research, access to new racial equity investing products and discussion guides for prospects who are Black, Latino or Asian American and have at least $1 million in investable assets. The new program joins existing ones aimed at women, business owners, rising generations, and athletes and entertainers, said Melinda Hightower, the head of the new client segment.

It comes as large wealth managers, advisors and academic researchers seek more information about affluent and high net worth clients from underrepresented groups. In some cases, the potential clients may not even be aware of investment opportunities that could build generational wealth. The barriers to accessing them include the industry’s lack of representation of women and minorities as well as outright racist actions or company-wide practices.



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