This publication carries latest news on product and service offerings in wealth management.

UBS Financial Services, part of UBS, and NextShares Solutions, which is a wholly-owned subsidiary of Eaton Vance, are to offer NextSharesTM exchange-traded managed funds.

UBS will become the first full-service wealth manager to offer NextShares through its financial advisor network. In addition, UBS Asset Management (Americas) plans to enter into an agreement with NextShares Solutions to support the development and launch of UBS-sponsored NextShares funds in 2017, the firms said in a statement earlier this week.

As exchange-traded products, NextShares may offer cost and tax efficiencies that can enhance shareholder returns, the firm said. Along with UBS Asset Management, NextShares are expected to be offered by a range of well-known asset managers and across fund asset classes. The first NextShares funds began trading on the Nasdaq exchange earlier this year, it said.