UBS is launching next month a program aimed at charging service providers of retirement plans for better access to its financial advisors and the potential to sell more of their products on the firm's retirement plan platform, according to news reports.

The Strategic Plan Provider Program is aimed at fund shops and retirement plan recordkeepers and is expected to launch by the end of September, FA-IQ sister publication Ignites writes, citing a disclosure filed last week.

The program would charge around $150,000 for “enhanced access to UBS financial advisors” as well as for strategic planning and product support “including prioritized review of [strategic plan providers’] new products and services specific to participant-directed retirement plans and collaboration on joint strategic initiatives,” the disclosure said, according to the publication.

The disclosure then added that participation in the program wouldn’t be a consideration in how UBS selects products for its platform, however, Ignites writes.

At the same time, participants in the program “have an advantage over others as they have a greater level of access and can tailor their efforts with our financial advisors, which may result in increased sales of those products by our financial advisors,” the disclosure said, according to the publication.

The advisors will not get paid through the program, Ignites writes, citing the disclosure.

A UBS spokesperson declined to comment to the publication beyond the filing.

The firm works with over 3,000 retirement plans, which represents $85 billion in retirement plan consulting assets, Ignites writes, citing information on UBS’ website.