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Diamond Consultants: Financial Advisor Recruiting FirmDiamond Consultants: Financial Advisor Recruiting Firm
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UBS

UBS Polishes Offers for Private Bankers with Upfront Cash

UBS Polishes Offers for Private Bankers with Upfront Cash

Louis Diamond Quoted – By Miriam Rozen and Mason Braswell, AdvisorHub – UBS Wealth Management USA has recast its offers for private bank recruits as it looks to make its recruiting deals more attractive to the non-traditional hiring pool, according to two recruiters with knowledge of the firm’s deals. UBS’s willingness to put more money on the table upfront likely signals that its bank recruits have been paying off, said Louis Diamond, an industry recruiter in New Jersey.

Stuck in Place: How Merrill’s CTP Has Senior Advisors Right Where the Firm Wants Them

Stuck in Place: How Merrill’s CTP Has Senior Advisors Right Where the Firm Wants Them

By Mindy Diamond, WealthManagement.com – Financial advisors who opted-in to Merrill’s CTP (Client Transition Program) are finding they are stuck in the ironclad agreement, bound by a strict non-compete and clawbacks. It’s a cautionary tale for advisors who have yet to sign on.

The Limitations of Building a Billion-Dollar “Boutique Firm” within a Wirehouse: A UBS Breakaway Story

The Limitations of Building a Billion-Dollar “Boutique Firm” within a Wirehouse: A UBS Breakaway Story

As a wirehouse advisor, Terry Cook found it became too difficult at UBS to meet the increasing demands of his high net worth clients. The only way to act as a true fiduciary meant “taking the ankle weights off” by making the leap to independence.

UBS to Close U.S. Private Bank; Advisor Attrition, Client Exits Predicted

UBS to Close U.S. Private Bank; Advisor Attrition, Client Exits Predicted

Louis Diamond Quoted – By Miriam Rozen, Financial Advisors IQ – UBS has unveiled to employees plans to shutter its U.S. private bank unit at the beginning of next year and recruiters are predicting advisor attrition and client defections. Jason Chandler, head of wealth management USA, and Sylvia Coutinho, head of wealth management Latin America and country head of UBS Group Brazil, issued in June a company-wide memo detailing the plans.

UBS team managing $330 million forms RIA

UBS team managing $330 million forms RIA

By Investment News – A three-adviser team managing $330 million in assets at UBS has formed TriaGen Wealth Management, a registered investment adviser, in Calabasas, Calif.

The Handwriting on the Wall: What is Your Firm Trying to Tell You?

The Handwriting on the Wall: What is Your Firm Trying to Tell You?

By Mindy Diamond – Over the years, there have been many signs and signals sent from firms that advisors may have dismissed or ignored. As such, they also missed a chance to discern the real meaning or intent—and their opportunity to take a more strategic and proactive stance.

UBS Extends 2020 Comp Plan’s Team Threshold Deadline by Six Months

UBS Extends 2020 Comp Plan’s Team Threshold Deadline by Six Months

Barbara Herman Quoted – By Miriam Rozen, Financial Advisor IQ – In what is regarded as a conciliatory move, UBS extended the deadline for its advisor teams to meet new higher production revenue thresholds announced earlier this month as part of the wirehouse’s 2020 comp plan.

UBS Comp Change: An Equal Opportunity Offender

UBS Comp Change: An Equal Opportunity Offender

By Mindy Diamond – The change in compensation that UBS recently announced reflects a tightening of the reins by the firm’s Swiss banking parent. This combined with a retrenchment in recruiting sends a strong message that the battle for control between advisor and firm is slowly but surely being lost by advisors.
While UBS leadership spins this comp change as a positive, generally speaking, advisors are not seeing it that way.

UBS ALFA Program: Understanding the Real Impact on All Advisors, Their Clients, Their Teams and Their Future

UBS ALFA Program: Understanding the Real Impact on All Advisors, Their Clients, Their Teams and Their Future

By Barbara Herman – The opportunity for an advisor to monetize his life’s work without having to change firms can be very compelling. However, the reality is that the decision to do so comes with some important caveats requiring careful consideration by the advisor looking at retirement as well as his successors. Uncovering the potential and hidden risks of retire-in-place programs like ALFA often comes down to answering these 8 questions.

UBS Recruited Fewer Than Two Dozen U.S. Advisors This Year, Executive Says

UBS Recruited Fewer Than Two Dozen U.S. Advisors This Year, Executive Says

Louis Diamond Quoted – By Mason Braswell, AdvisorHub – UBS Wealth Management officials have said they continue to selectively recruit high-producing brokers in the U.S. while keeping a tight rein on expenses, but the inflow of advisers year to date has been sparse.

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