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January 29, 2020 at 11:42 PM
(Photo: Bloomberg)
UBS has added advisors with a total of over $12.5 billion in assets and $29.6 million in yearly fees & commissions — including one large team from a rival wirehouse — over the past two months.
Though many of the recruited reps recently moved to UBS from Merrill Lynch, Morgan Stanley and Wells Fargo, many came from non-wirehouse organizations.
The bank is “having success across the [U.S.] with recruits of all sizes from various types of firms … [and] one recruit win can often lead to other recruiting successes within your markets,” according to Michael McVicker, head of Business and Change Management for UBS Wealth Management-U.S., who also acknowledged the managers responsible for its latest round of recruited advisors.
“In line with our overall strategy to recruit and retain the most productive advisors, our recruiting pipeline continues to trend up and we are in discussions with franchise teams across the country looking to join, grow and retire at UBS,” McVicker said in a statement.
East Coast
In mid-January, UBS added a 17-member team with $10.8 billion in assets under management from Merrill Lynch that produced some $16.7 million in yearly fees and commissions.
The group, which does business as Wickham Cash Partners, joined UBS in Charlotte, North Carolina. The team reports to Julie Fox, market head of Northeast Private Wealth Management, and Brendan Graham, a branch manager for the division.
In addition, Fox recruited a female advisor from Bank of America in Philadelphia — Blair Ege — who has worked with $300 million in client assets and has about $1.5 million in trailing 12-month revenue.
A 33-year industry veteran, Ege was registered with Merrill Lynch for the past four years, according to her FINRA BrokerCheck record. She cut her teeth in the business at Merrill from 1985 to 1990 and then left to work for MML Investors Services and later for other firms (including Citigroup). She most recently left the Merrill on Nov. 27, 2019.
