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UBS Group is launching a digital financial advice platform to woo its current clients who have 401(k) or workplace retirement programs and generate more profit.

The Swiss investment bank is now targeting about two million employees who have retirement programs that are managed by UBS currently. These employees currently do not work with UBS advisers and have $250,000 to $2 million to invest.

While these employees may not be eager to trade stocks or other assets in their portfolios or seek the guidance of a financial adviser, UBS is attempting to generate more interest from them by launching a digital platform with videos from advisers. 

UBS has a global team of 200 market forecasters and its advisers will discuss investments or financial planning for various life events, such as buying a house or having children.

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The investment bank's new digital strategy will help it compete with its rivals, including Charles Schwab SCHW, Morgan Stanley MS and Fidelity Investments. 

William Whitt, strategic adviser at Aite-Novarica Group, said UBS is aiming for the "very top of where the sweet spot is for a hybrid digital offering,” according to a Wall Street Journal article.

During the past five years the bank increased its profit margin two-fold in its wealth management business by providing more service.