{"id":1631360,"date":"2022-09-02T17:36:49","date_gmt":"2022-09-02T21:36:49","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1631360"},"modified":"2022-09-02T17:36:57","modified_gmt":"2022-09-02T21:36:57","slug":"ubs-scraps-1-4-billion-deal-to-buy-wealthfront","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/ubs-scraps-1-4-billion-deal-to-buy-wealthfront\/","title":{"rendered":"UBS scraps $1.4 billion deal to buy Wealthfront"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">16<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fubs-scraps-1-4-billion-deal-to-buy-wealthfront%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1631360&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>(Reuters) -Swiss bank UBS and Wealthfront said on Friday they have mutually agreed to terminate their $1.4 billion deal, as part of which the automated wealth management provider was to be acquired by UBS Americas Inc.<\/p>\n<p>The deal, first announced earlier this year, was expected to fast-track UBS\u2019s growth in the U.S. market.<\/p>\n<p>Several large financial firms including Wall Street giants JPMorgan Chase &#038; Co, Goldman Sachs and Morgan Stanley have ventured into new client bases in recent times beyond the high-net-worth individuals they traditionally served.<\/p>\n<p>The Swiss bank said it is committed to its plan of growing in the U.S. and will continue to build its digital wealth management offering.<\/p>\n<p>\u201cWe are continuing to explore ways to work together in a partnership and UBS has given us $70 million in financing at a $1.4 billion valuation,\u201d Wealthfront Chief Executive Officer David Fortunato said.<\/p>\n<p>The deal with Wealthfront, one of the largest digital wealth management firms known as \u201crobo-advisers\u201d, was expected to close in the second half of the year.<\/p>\n<p> (Reporting by Manya Saini in Bengaluru; Editing by Shounak Dasgupta)<\/p>\n<p><a href=\"https:\/\/www.oann.com\/?attachment_id=2744597\"><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/09\/tagreuters.com2022binary_LYNXMPEI810YG-VIEWIMAGE.jpg\" alt=\"tagreuters.com2022binary_LYNXMPEI810YG-VIEWIMAGE\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Reuters) -Swiss bank UBS and Wealthfront said on Friday they have mutually agreed to terminate their $1.4 billion deal, as part of which the automated wealth management provider was to<\/p>\n","protected":false},"author":66,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1631360","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1631360","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1631360"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1631360\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1631360"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1631360"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1631360"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}