Following the success of its proprietary strategies that waive third party manager fees, UBS Wealth Management USA will also waive outside manager fees on separately managed accounts ("SMAs") from seven fund companies. Beginning July 7, investors will not be charged fees from third party fund companies for nine separately managed accounts. These SMAs are offered by Active Index Advisors, Breckinridge Capital Advisors, and Goldman Sachs Asset Management. Starting in August, UBS will also cover fees on nine more separately managed accounts offered by Franklin Templeton, Invesco, Brandes Investment Partners, and Pimco. These offerings will be available in UBS' ACCESS single-contract, Strategic Wealth Portfolio, and Advisor Allocation Program.
Jason Chandler, head of UBS Wealth Management USA described the move as "investing in our advisors' success," and also said that this will allow UBS to align their "offering with the SEC's Regulation Best Interest." Regulation Best Interest will take effect on June 30, 2020.
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