UBS
UBS Americas Profit Rises Despite Advisor Losses, Asset Outflows
UBS reported record third quarter profit of $371 million despite declines in revenue, net asset outflows and a continued decline in its advisor force.
Wirehouse Wars: Wells Loads Up on October Hires from UBS, Morgan Stanley, Merrill
Wells Fargo’s seesaw battle to rebuild its advisor force yields three million-dollar teams from rivals in California and Vermont despite net erosion in headcount.
UBS Sued for Closing Accounts of U.S. Citizens Living Abroad
Class-action filing alleges that UBS failed to properly notify clients of its 2014 decision to freeze investment accounts of U.S. customers living abroad, and kept interest for itself.
Morgan Stanley Hires Merrill Lifer with $473-Mln Book in Illinois
Arrival of $2 million producer on Friday followed Morgan Stanley’s recruiting of the previous week of a UBS broker in northern California.
Ameriprise Hires RayJay, UBS Solo Practitioners in FL, CA
Minneapolis-based Ameriprise recruits southern Florida advisor with 23 years of experience to its employee channel and 17-year San Francisco broker to its independent arm.
UBS Veterans Form RIA in Houston
Duo with 58 years of combined wirehouse experience and a book of almost $300 million in assets expect to develop “deeper client relationships” as independent advisors.
$7.6 Million Bernstein Producer Set to Join UBS in San Francisco-Sources
Robert Stoker, who built a $750 million book over a 22-year Sanford Bernstein career, is at least the fourth large producer to leave this year for UBS.
RBC Hires $625-Mln Asset Morgan Stanley Team, Wells Gains from Merrill, UBS
RBC lured big Morgan Stanley team in Princeton while Wells Fargo attracted seven mid-quintile teams from UBS, Merrill Lynch and Morgan Stanley.
UBS Changes Calculation of Client Advisory Fees
Customer quarterly fees will be based on average daily balances rather than on start-of-quarter assets in the interests of “accuracy and transparency,” UBS says.
UBS Hires Mega JPMorgan Bank Team, JPM Securities Lures 40-Year UBS Advisor
Billion-dollar-asset J.P. Morgan Private team in Atlanta to become UBS advisors, while $150-million father-son team of UBS/PaineWebber lifers join J.P. Morgan Securities in New Jersey.
Morgan Stanley Recruiting Streak Continues with UBS Hires in Florida
Two million-dollar brokers in Aventura join one week after Morgan Stanley hired dozens of advisors and support staff across the country from UBS and Merrill Lynch.
