On January 26, 2022, UBS Group AG announced that it will acquire Wealthfront Advisers LLC.
Under the terms of the transaction, UBS Group AG (“UBS”) will acquire Wealthfront Advisers LLC (“Wealthfront”) through an all-cash transaction valued at $1.4 billion. Wealthfront will operate as a wholly owned subsidiary of UBS. The deal, subject to customary closing conditions, is expected to close in the second half of 2022. Further terms of the deal were not disclosed.
Wealthfront, based in California, is a wealth management provider offering investing and banking services to both sophisticated and new investors. Wealthfront has approximately $27 billion in assets under management in the United States.
UBS, based in Switzerland, is a wealth management firm providing wealth management, asset management, and banking services to private investors and institutional clients.
To read the press release: please click here.