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UBS makes $1.4bn acquisition of robo-adviser Wealthfront to target affluent Americans
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fnlondon.comUBS Group is buying online wealth adviser Wealthfront for $1.4bn to reach the young rich and manage more money for people through their devices, the company said on 26 January.
UBS said it would pay cash for the digital platform, one in a clutch of startups whose assets have grown rapidly in an industry shift to automated advice. California-based Wealthfront has $27bn under management for nearly half a million clients.
UBS...
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