Page 44 - Investment Advisor March 2022

BROKER-DEALER BEAT

UBS Launches Program for

‘Multicultural Investors’

BS has launched a Multicultural
Investors Strategic Client
USegment focused on meeting
the needs of U.S. investors from three
of the largest racial and ethnic groups:
Asian American, Black, and Hispanic
and Latino with investable assets of $1
million and above.
The new segment is led by Melinda
Hightower, head of the Multicultural
Investors Strategic Client Segment at
UBS Global Wealth Management. She
is a registered advisor and broker,
according to her report on the Financial
Industry Regulatory Authority’s
BrokerCheck website.
The wirehouse’s goal with the seg- ‘While investors often have the same goals
ment is to “build and enhance the UBS ... their investment priorities, motivation,
ecosystem to more effectively serve and
benefit all investors through an inclu- and views can differ widely across and
sive, innovative experience,” it said in a
news release. within cultural groups, so it’s crucial we are
To that end, it said, the segment will prepared to support them on their wealth
provide wealth management insights,
inclusive investment solutions for inves- management journey.’
tors who want to use their wealth to
drive inclusion efforts, and advice to —Melinda Hightower, UBS Global Wealth Management
multicultural investors and their allies.
UBS advisors across the U.S. will “While investors often have the same financial landscape and societal shifts,”
work in close collaboration with the overarching goals — to grow and pre- according to Jason Chandler, head of UBS
Multicultural Investors Strategic Client serve their wealth — their investment Wealth Management USA. “We believe
Segment to attract and serve their cli- priorities, motivation, and views can it’s important to expand the multicultural
ent’s individual needs, according to UBS. differ widely across and within cultural wealth narrative, take action and show
Advisors will have access to multi- groups, so it’s crucial we are prepared to tangible progress to ensure multicultural
cultural-focused content exploring the support them on their wealth manage- investors receive the guidance and advice
intersection between culture, art, phi- ment journey,” she said in a statement. they need to bridge the trust gap with the
lanthropy and sustainability to help pro- Hightower joined UBS in 2021 from financial services community.”
vide their clients and prospective clients JPMorgan Chase. With over 20 years of The new Multicultural Investors
with unique, community-building expe- experience, she “deeply understands the Strategic Client Segment joins UBS’s
riences and advice, UBS said. nuances of the segment,” UBS added. existing suite of services that the wire-
“Multicultural investors are a siz- “At UBS, we are reimagining the power house said are targeted to focused client
able, yet underserved audience that are of investing by adapting to the needs segments including women, business
actively seeking wealth management and preferences of current and prospec- owners, athletes and entertainers, and
advice,” according to Hightower. tive clients, as a result of the evolving most recently, the rising generation.

42 INVESTMENT ADVISOR MARCH 2022 | ThinkAdvisor.com