July 31, 2025
Louis Diamond Quoted
By Bruce Kelly
The drop in headcount totals a net decline over the past 12 months of 229 fewer advisors at UBS in the Americas at the end of June, when its advisors headcount totaled 5,773. A year earlier, the firm reported 6,002 advisors employed in the region.
For the quarter, the firm saw a net loss of 111 financial advisors in the region during the three months ending in June compared to the end of March.
And some in the industry say that more UBS financial advisors this year will be heading to the exits.
“This is just the tip of the iceberg,” said Louis Diamond, CEO of Diamond Consultants, a third-party recruiting firms that moves advisors out of wirehouses like UBS to other firms. “These are just the first of the defections stemming from last year’s compensation and pay changes. We’ll see many more.”
Meanwhile, senior management at UBS is prepared for more advisor attrition as the firm works to boost pre-tax margins.
In terms of headcount, the second quarter is typically seasonally more active in terms of financial advisor moves across the street, said chief financial officer Todd Tuckner this morning during a conference call with analysts, per the call’s transcript. He said the changes they have introduced means they could see some continued movement across firms and to the independent channel.
