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Articles tagged "UBS"


Bob McCann: To be the world’s greatest wealth management firm, I believe you need a strong investment bank.

The 13 most telling quotes from UBS's Bob McCann in his Washington Post interview
The ex-Merrill brokerage chief's comments walk the RIA-wirehouse line

Friday 7.11.14
Frank Polefrone: RIAs place emphasis on their discretionary role and will easily move in and out of products based on the performance of the funds.

RIAs surpass wirehouses in ETF asset distribution and it'll mean change
For providers of these products and others, getting to registered investment advisors requires more Mapquest, more local manners and more frequent flying than their Morgan, Merrill,, UBS and Wells Fargo cousins

Thursday 5.22.14
Alois Pirker: Innovation is now more of a visionary thing, and an appetite thing, rather than about the monetary angle.

The 6 biggest trends affecting the RIA business
Alois Pirker, Mike Durbin and Meredith Rice help RIABiz paint the Big Picture for private wealth management in the U.S. and beyond

Monday 2.24.14
Clayton Hartman (left) with Tim Kneen: We thought UBS was transitioning to a different kind of wirehouse.

How heavy the lifting was to get a $1-billion wirehouse team to independence in 2014 after a de facto false start in 2007
Kneen and Clayton were still on Windows 2003 version at UBS, a metaphor for why they have moved to Focus Financial and Tamarac software

Friday 2.7.14
Jonathan Blau: We never knew there was a way to partner with someone like Dynasty.

Dynasty Financial leads a second $1 billion-range team -- now Fidelity RIA -- out of Wall Street in as many weeks
Fusion Family Wealth LLC presumed the economics of buying top research wasn't there -- but was shown otherwise

Wednesday 11.13.13
Patrick Burns: The shift was sudden.

Backs to the wall, wirehouses renew legal efforts to stem team breakaways -- with junior partners sparking the tension
Lawsuits by Merrill, UBS, Morgan Stanley have been spiking in recent months, according to industry observers and lawyers, and it can take precious time and big money to make them go away

Wednesday 10.23.13
Ajay Gupta will write a seven-figure check to UBS to gain his freedom as an RIA.

Schwab wins giant UBS breakaway in San Diego
Ajay Gupta has some famous ultrahigh-net-worth clients, including Deepak Chopra, and he wants 'true independence' to manage $540 million of assets

Monday 10.7.13
Gregg Robins:  It is true that there was often more 'private' than 'banking,' and Swiss bankers were more often consummate relationship people rather than rigorous bankers.

A former exec of a Swiss private bank offers his insights into the country's wealth management business and what innovations could redefine it
Gregg Robins, most recently head of UBS private banking in Russia, gives front-row insight on his industry's recent challenges but believes more of a Branson-Jobs mentality could shape its future

Friday 9.13.13
David Loeper: We're not a litigious firm.

MoneyGuidePro back on a roll after the "blip" of being sued by Wealthcare, PIEtech's CEO says as settlement is signed
David Loeper says he's "extraordinarily pleased" but Bob Curtis echoes that sentiment and says his company's work with UBS is stronger than ever

Friday 11.9.12
Philip Palaveev: Wirehouses would be wise to explore the opportunity to brand the teams alongside the national brand and to create compensation structures that give team captains control over the hiring and compensation of their team members.

The 10 things Morgan, Merrill, UBS and Wells Fargo could do if they really, really wanted to stem the RIA tide
Advisors are happy to hand over the blueprint to wirehouses because they're certain the firms are too fainthearted to execute it

Tuesday 10.9.12
Randy Long: We've talked to them. I've decided I'd just rather go after their clients rather than their advisors.

How a $12 billion RIA grew to $20 billion in less than a year by raiding 401(k) accounts from legacy players
Randy Long boasted that he'd pick off the big boys' clients and came through with the help of a crack team of 12 young turks

Wednesday 9.26.12
Scott Smith: It almost seems like collecting the $15 fee would be more labor for UBS then it's worth.

Is UBS channeling its inner IBD in levying $15 charges on its advisors for redundant mobile devices?
The wirehouse's charges seem on target on paper but are they penny rational and pound foolish?

Wednesday 8.8.12
Drew Nordlicht: We spent more of our time explaining the trust aspect of the firm.

Luring a $330 million team away from UBS, HighTower opens first San Diego office
After five years at Smith Barney, HighTower convinces the team to complete second big move in five years

Tuesday 7.3.12
John Beirne: We never thought we'd be automatically hired.

Merrill Lynch breakaway wins $550-million account in head-to-head battle with UBS -- despite a higher bid
John Beirne was selling his stellar track record and the city of Bristol, Conn. was buying

Wednesday 5.23.12
Christopher Mason is keeping his assets at Fidelity: "They don't have quarterly earnings and they don't do stupid things."

Why one UBS advisor broke away even knowing that his former partner would keep the 401(k) assets
Christopher Mason is establishing Fontis as part of CONCERT but hasn't given up hope of selling his portfolio management skills on UBS' platform

Thursday 5.17.12
John Straus: They'd say 'what we'd really like is to pick your brain.'

Former Morgan Stanley and UBS wealth management chief flirts with roll-up model then pivots to management consulting
John Straus knew there was a market for his expertise, but a funny thing happened on the way to becoming an aggregator

Tuesday 3.20.12
Ryan McDermott: It's a proven business model, highly, highly validated. I get to work within that.

Why a $6 billion New York RIA is finally making its California debut
The partners of BBR found a fellow Goldman Sachs alum they could trust 3,000 miles away

Tuesday 2.28.12
Fred St. Laurent: A number of smart brokers are going to see this as one of the best deals on the street.

What one recruiter learned about Schwab's franchises after talking to Mary
Initially skeptical, on closer inspection and after talking to Schwab's first franchisee, our correspondent sees a real value proposition in the offing

Wednesday 12.21.11
Gil Baumgarten:  New clients say they would have never done business with me at any wirehouse. They think the system is rigged.

How a former Barron's top advisor was able to offload 350 clients and raise profits after leaving UBS
The wirehouse breakaway finds he also has a new social status and the ability to win $19-million clients

Wednesday 12.7.11
Randy Long: I'll be calling all of their clients.

The head of a $12 billion RIA spars with UBS and LPL execs on the great fiduciary debate
Retirement-plan leaders grapple with different degrees of fiduciary and how best to address advisors and clients

Friday 10.21.11
HighTower plucked Ann Reider from an MSSB  branch in close proximity to HighTower's Chicago headquarters

Casting a wider net for talent, HighTower poaches an MSSB branch manager
After three years of relentlessly recruiting brokers from Wall Street firms, the strategic buyer will go to wirehouses to top off its managerial talent

Friday 10.21.11
Dave Loeper: If advisors are using our process, they need to make sure they have the appropriate rights to it.

David Loeper is taking on UBS but his patent lawsuit is raising alarms in the RIA business
A pitched battle over the uniqueness of a financial planning process could result in thousands of advisors paying royalties

Thursday 8.11.11
Ron Rhoades: Public policy concerns may well influence the outcome of the Wealthcare vs. UBS litigation.

Legal analysis: The chances that Wealthcare beats UBS or upends the financial planning community
The patent lawsuit could have real consequences for financial advisors

Thursday 8.11.11
Chris Costello: We call it creating the bionic adviser.

How two Wachovia breakaways broke some rules and grew $23 million AUM to $320 million in seven years
The ex-Wachovia team creates 'bionic' advisors, tucks in advisors, poaches advisors and does free work

Thursday 7.21.11
Elliot Weissbluth: I can tell [advisors] life is better for you outside of the wirehouse and I didn’t know this fact three years ago.

HighTower dangles array of hedge funds to lure breakaways
Wirehouses have nothing on independents when it comes to access to hedge funds, firm says citing three-year study

Thursday 6.23.11
Jeff Geygan: We have clients that are professional golfers, state senators, movie actors ... a leading scientist in his field.

Milwaukee Wealth Management was born when Jeff Geygan's investing strategy hit the UBS wall
A value devotee, his picks at times conflicted with the wirehouse's research department

Tuesday 3.8.11
Elizabeth MacBride: Sometimes, we even get to hear the end of the story: an idea that has leaped from the online world to spur action.

Ideas born in the advisory world that flew far in 2010
How one conversation influenced NYC economic policy

Thursday 12.30.10
Fred St Laurent: As a small business owner, how many mistakes can you afford to make?

The hidden dangers of hiring a laid-off Merrill broker
Who you bring on board says volumes about your firm's brand

Monday 12.13.10
Andrew Lewis: The culture of Wells Fargo has been a very nice change.

A UBS broker lands at Finet, which helps him win a nasty tug-of-war over clients
Attorneys: Wirehouses may be reawakening to the independent threat

Monday 11.15.10
Ben Marks: We had many clients ask us, once the market downturn took place, why we were still at UBS?

How a UBS skull session was complicit in showing this advisor the path to independence
The final straw: clients openly asked why he was still with a wirehouse

Friday 10.29.10
Charles Goldman: Off advisors' minds.

What do advisors care about? The new SEC that emerged in July, for one thing.
Plus, what a Smith Barney breakaway team is finding out about financial plans

Thursday 8.12.10
Andrew Morse: I have yet to work for an investment bank that hasn’t gone out of business or was brought back from the brink.

HighTower wins big UBS team and clinches 'critical mass'
The Chicago-based aggregator is breaking even and signing leases for more office space in three cities

Tuesday 8.3.10
Matthew J. Schafer: It’s just playground rules at a time [when] duress or stress might be high.

SIFMA will take over administration of Broker Protocol list
Wachtell, Lipton, Rosen & Katz gives up reins of legal truce after list of participants balloons to 471 firms

Thursday 5.6.10
Bill Whitney: Everybody at a wirehouse has reached a gag threshold and is looking for an exit with few exceptions.

UBS brokers break away Mississippi style and a bass-fishing ex-Merrill broker comes out of retirement
Leaving the wirehouse was made easier by a truism of the folksy state: clients would be offended not to be asked to follow

Wednesday 4.28.10
John Choudhary and Anne-Day McCabe found Wells Fargo's fixed income and bond selections particularly strong.

A young advisory pair escaped wirehouse cost cuts to land at Wells Fargo
Moving from one tarnished brand, UBS, to one of the strongest in the business

Thursday 4.1.10
Charles Huebner: You can see it in their eyes. They say: You can tell what it is like to take the risk.

Two senior UBS brokers pass on retirement to pursue aggressive breakaway plan
Huebner and Jagger are winding up, not down with multi-faceted growth strategy

Tuesday 3.16.10
Mark Tibergien: We were so impressed with Schwab's service that we hired 14 of their people in the past two years.

Mark Tibergien is making Pershing an industrial strength custodian with an RIA service touch
The feisty CEO of Pershing's RIA unit believes his offering will speak to big RIAs

Thursday 3.4.10
Patrick J. Burns: I'm not sure the SEC or FINRA has the stomach for a return to the days of heavy litigation.

Broker protocol may be endangered by complexities as membership starts to explode
Merrill Lynch, LPL and Ameriprise create addendums to once-sacred truce; they may spark an unfavorable trend

Friday 1.29.10
Barnaby Grist says that wirehouse data on attrition is accurate but not telling for breakaways

Schwab and TD Ameritrade pipelines brim with breakaway prospects
Growth rate accelerates despite slowing attrition at wirehouses

Tuesday 1.26.10
Bob McCann sends a message that he wants to reward the advisors who stayed with UBS through the hard years

McCann plays his first cards as head of UBS
Keeping more brokers from leaving appears to be the priority

Wednesday 1.6.10
Mindy Diamond: A home run for RIAs and recruiters

Page One Wall Street Journal article is a 'home run' for the RIA industry
Story's impact could exceed New York Times article about Smith Barney breakaway two years ago

Tuesday 1.5.10
John Furey: Top advisors only engage professionals referred within their networks

Deal killers for almost-breakaway brokers
How to break the dam of 60,000 wirehouse employees

Wednesday 12.9.09
Mark Hoffman: An RIA is just like any small business, but with a slug of regulation.

What You May Have Missed: A broker leaves UBS and loops in executive talent for his RIA
Not satisfied to be a mom-and-pop, wirehouse breakaway hires Boston Consulting Group talent out of the gate

Tuesday 12.8.09
Sean Walters: [Advisors] want to stay abreast without paying $6,000 to $7,000

Once a haven for fee-minded wirehouse brokers, IMCA is becoming a melting pot of advisory channels
IMCA conferences -- focusing on investment, wealth management -- are the sole reason that many new members join

Tuesday 12.1.09
Like Tom Turkey, many RIAs were thankful to survive 2009

Taking A Break From the Turkey?
RIABiz's top 10 stories from the past month offer a window into what RIAs care about

Thursday 11.26.09
Thomas B. Lewis: “There are RIA firms joining that are trying to recruit large producers.”

RIAs drive explosive growth of the Broker Protocol; signatories triple
The wirehouse legal truce is now a poaching tool for advisory roll-ups; Merrill Lynch applauds its wide use

Tuesday 11.17.09
Jim Scanlon: I was not a big producer so [my boss] could say: I need you to be in this meeting.

How TD Ameritrade wins clients $47 million at a time
UBS brokers double take-home pay with breakaway

Friday 11.13.09
Bob McCann is known not to overpromise

13 things to know about Bob McCann recruiting his old Merrill Lynch team to UBS
Move signals UBS executive's independence from his bosses back in Switzerland

Tuesday 11.10.09
Matthias Paul Kuhlmey is helping to create a blueprint for globally-minded breakaways

HighTower Advisors nabs a UBS team and shifts to new recruiting gear
Chicago company creates comfy nest for breakaways with overseas clients

Tuesday 11.10.09

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