UBS Private Wealth Management in Los Angeles has added a seven-person advisory team, The Legacy Multi-Family Group, with $6.5 billion in client assets from J.P. Morgan Private Bank.
Schaffer and Bristol join UBS after about nine years each at JPMorgan, according to their reports on the Financial Industry Regulatory Authority’s BrokerCheck website. They focused on high-net-worth families, individuals, foundations, and privately held businesses.
JPMorgan on Monday declined to comment on losing the team to UBS.
Prior to his career in wealth management, Schaffer worked for JPMorgan’s investment bank and two hedge funds. He is also an adjunct faculty member at Villanova University, where he teaches finance and accounting.
Over his 19 years in the sector, Bristol worked for firms including Morgan Stanley from 2001-2003, Bank of America’s investment services unit from 2003-2005 and Bernstein Global Wealth Management’s private client practice from 2009-2012 before joining JPMorgan in 2012. He started his career at Goldman Sachs in 1999.