UBS and Wealthfront have mutually agreed to terminate their merger agreement, initially announced 26 January 2022, under which Wealthfront was to be acquired by UBS Americas Inc., according to a press release issued by the bank.

UBS will purchase a USD 69.7 million note convertible into Wealthfront shares.

The bank remains focused to its growth plans in the US and will continue the build-out of its digital wealth management offering.