Louis Diamond Quoted – By Cheryl Winokur Munk, Barron’s – For wirehouse advisors considering a leap to the independent channel, getting the process right can mean the difference between a smooth landing and a face-flop.
Louis Diamond Quoted – By Mason Braswell, AdvisorHub – UBS Wealth Management USA has underscored that top producers are the future of its business with a grid-rate booster that was announced earlier this year and is set to pay out at the beginning of 2023.
Louis Diamond Quoted – By Miriam Rozen and Mason Braswell, AdvisorHub – With UBS Wealth Management USA’s reporting this week of an unusual net outflow of advisory assets in the second quarter, executives may be feeling some nostalgia for a longstanding award that was excised from broker compensation plans this year.
Louis Diamond Quoted – By James Rogers, FinancialAdvisor IQ – UBS adjusted its 2022 pay grid to reward time spent with the wirehouse, revenue and teamwork — but not everyone is happy with the changes.
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.
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.
Mindy Diamond Mentioned – By Ann Marsh, OnWallStreet – Ahmie Baum knows something about transitions. After all, the longtime ex-UBS advisor who began his wirehouse career at E.F. Hutton in 1979 has been counseling clients on how to “navigate the known and the unknown” when they sell their businesses or retire from executive, medical or legal careers for 40 years.
Shirl Penney lands UBS team as Dynasty Financial tower-mate in a sign the breakaway movement remains explosive, despite turning to ‘quiet launches’ during the COVID-19 pandemic
Louis Diamond Quoted – By Brooke Southall, RIABiz – The breakaway movement may have gone underground during the COVID-19 pandemic and subsequent market meltdown, but it never blinked. While wirehouses were getting knocked sideways by the shift to a virtual workplace, RIA custodians and recruiters adjusted their poaching tools on the fly and began shepherding “quiet launches.”
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.
Louis Diamond Quoted – By AdvisorHub Staff – Three teams of UBS Wealth Management Americas advisors whose leaders each have more than 20 years of experience left in recent days, adding to a net outflow at the wirehouse.
Subscribe for Updates
Get updated by email when a new article is added.
Recent News & Articles
- Community Generosity Pays Off In Advisor Recruitment, Retention
- Creating a Destination for Other Advisors: How a $600mm Breakaway Team Transformed into a $2.8B Business
- ‘Near record’ For Advisor Moves, Report Says
- Wirehouses Losing Advisors While Indies Add Them: Report
- Morgan Stanley Tracks ‘financial DNA’ to Find Clients Hidden in Plain View