UBS’ focus on digital advice to tap mass affluent clients puts the Swiss-based firm in direct competition with Fidelity and Charles Schwab as well as Morgan Stanley, according to news reports.

UBS is targeting clients with $250,000 to $2 million to invest who “don’t want to trade their own portfolios or hire a financial advisor,” the Wall Street Journal writes. That represents around 2 million people whose workplace stock and retirement plans are managed by UBS, according to the publication.

Consultants say UBS is following in the footsteps of Morgan Stanley, which attracted new customers by overseeing stock-compensation programs and then selling them additional services, according to the Journal.

What differentiates UBS, according to the firm, is that customers of its digital advice offering will get access to investment ideas from the firm’s chief investment office, which includes 200 market forecasters, the publication writes.

“They are going to be getting great UBS content, great UBS intellectual capital, just delivered to them in a different way,” said Tom Naratil, president of the Americas unit at UBS, adding that UBS has a global perspective its U.S. competitors don’t, according to the Journal.

Customers of the digital platform will also be able to connect with human advisors via video for financial planning or big investment questions, the publication writes.

But the move to digital advice will eat into the amount of client revenue currently collected by UBS’ human financial advisors, according to the Journal.

As of the end of September, UBS had 6,266 financial advisers in the Americas, the publication writes.

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