UBS buckles under uproar from brokers over non-solicit agreements
Louis Diamond Quoted
By Bruce Kelly
After causing an uproar earlier this year with its advisers and brokers, management at UBS Financial Services Inc. should be commended for coming to its senses, paying attention to its field force and reversing an unpopular policy that potentially interfered with advisers’ relationships with their clients.
“Obviously, every UBS adviser was up in arms about this and their opinions were heard,” said Louis Diamond, an industry recruiter. “It was pretty clear that lot of their advisers had been expecting the contract with the non-solicitation agreement to happen. And they said that they wouldn’t sign to get the bonus.”
