Benzinga | Jan 11, 2022 03:22PM EST

UBS Next Fund Invests In Digital Estate Planning Platform Trust & Will

UBS Group AG's (NYSE:UBS) $200 million UBS Next fintech initiative launched in 2020 has invested in Trust & Will, the operator of a digital estate planning platform.

What Happened: Funded by UBS and managed by a dedicated venture team, UBS Next is strengthening its connections to the fintech ecosystem through targeted investments.

Most recently, the firm invested in ConsenSys, the Ethereum-based blockchain technology, and Trust & Will.

"Trust & Will's platform helps to further digitalize and personalize an increasingly important aspect of wealth management: estate planning," said Mike Dargan, chief digital and information officer at UBS Group. "With this investment, we are exploring services beyond banking where we can partner to deliver real value for our firm."

Why It Matters: UBS Next is focused on supporting UBS' foray into fintech.

Last year, the institution's CEO announced the development of digital advice services targeting individuals with investable assets up to $2 million.

"We are excited to be the newest member of UBS's portfolio of fintech companies," said Cody Barbo, Founder, and CEO of Trust & Will.

"With their investment and expert guidance, we will continue to develop innovative solutions to better serve our members and make creating a legacy, an accessible and achievable feat for American families."