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Practice Management > Compensation and Fees

UBS Grabs 4 Merrill Advisors in California, Florida

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UBS said Thursday that it had hired four advisors from Merrill Lynch with yearly fees and commissions of about $2.1 million to join its operations in California and Florida. The combined FAs have roughly $800 million in assets under management.

Margaret Lech-Loubet joined the UBS office in Beverly Hills, Calif., and now reports to David Bigler, UBS’ complex director. Lech-Loubet had trailing-12-month fees and commissions (or production) of $1.1 million and AUM of $542 million.

Coming over to UBS in Palm Beach, Fla., are Adrian Davis De Montluzin, Michael Melnyk and Carolyn Smith. The group had yearly production of about $1 million and AUM of $258 million. It now reports to UBS branch manager Philip Jordan.

UBS Americas wealth-management operations are lead by Robert McCann, a former wealth-management executive at Merrill Lynch, who joined UBS in October 2009.

Earlier this week, UBS hosted a forum on the economy in Dallas for its clients and advisors in the area. Former Presidents Bill Clinton and George W. Bush.

As of June 30, the number of FAs in the UBS-Americas wealth-management unit is 6,862–up from 6,760 last year and 6,811 in the first quarter of 2011. Assets under management are 694 billion Swiss francs vs. 742 billion Swiss francs last year and 750 billion Swiss francs in the earlier period.

Invested assets under management for the group are 650 billion Swiss francs, or roughly $113 million per advisor. Gross production or fees and commissions per rep stood at $884,000 in the second quarter of 2011.


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