UBS Wealth Americas Posts 54% Jump in Pretax Profits

Average fees and commissions (or production) per advisor in the Americas was $1.5 million, up from $1.4 million in both the earlier and year-ago quarter.

“Our strong 2020 results clearly demonstrate the true strength of our franchise and the commitment of our employees,” said UBS Group CEO Ralph Hamers said in a statement. The strong results were achieved despite it being a “challenging year for our clients, for our colleagues, and for our communities alike,” he said.

UBS “stood for stability, maintained connectivity, and provided the advice and solutions our clients needed,” and so “they entrusted us with their business — with over a hundred billion dollars in net new money,” he explained. “We met or exceeded every single one of our growth and returns targets.”

Rival Morgan Stanley Wealth Management reported last week that its 15,950 brokers attracted $66.1 billion in net new assets in the fourth quarter. And rival Bank of America’s Global Wealth division said its 19,373 combined Merrill and Private Bank brokers added a net $7.6 billion in fee-based flows in the period.