JBWere enters UBS alliance


JBWere has entered into a strategic alliance with UBS in a move it claims will strengthen its wealth management capabilities.
The announcement comes at the same time as National Australia Bank announced it would exercise its option to acquire the remaining 19.9 per cent of JBWere from Goldman Sachs.
The JBWere announced said the company was embarking on a new strategy of non-exclusive research and distribution arrangements and that UBS was the first of these agreements.
It said the non-exclusive arrangement would allow JBWere's Australian clients to access UBS's pipeline of equity deals and initial public offerings (IPOs) as well as accessing domestic and international investment research, covering more than 3,000 stocks in Australia, New Zealand and internationally.
Outlining the arrangement, JBWere chief executive, Justin Greiner said he believed the alliance would be good for the company's private wealth clients and would allow them to access a large and diverse range of world-class research and products.
Recommended for you
Money Management examines the share price of financial advice licensees over one year to 31 March, with M&A actions in the final quarter having a positive effect for two licensees.
A $3.5 million settlement for victims of Melissa Caddick has been approved by the Federal Court following an initial agreement last December.
The Reserve Bank of Australia has delivered its first rate decision since the introduction of a new board structure last month.
Digital advice provider Otivo has launched an interactive tool, powered by artificial intelligence and Otivo’s own advice engine, to help answer client questions.