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Longtime Wells Fargo Team Jumps to UBS in San Diego

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What You Need to Know

  • Wells Fargo's advisor headcount has been dropping since the fake-accounts scandal broke in 2016.
  • Dawson Wealth Management was with Wells Fargo for about 20 years.
  • Edward Dawson joins UBS as a managing director.

Dawson Wealth Management Group, based in San Diego, has broken away from Wells Fargo after about 20 years to join UBS Wealth Management USA.

The move was the latest example of an advisory team jumping from one wirehouse to another. Wells Fargo declined to comment Friday.

The Dawson team is led by financial advisor Edward Dawson and includes associates Kyle Dawson, his son; Adrianne HoyPatty Bribiesca and Katherine Tawoda.

The team has “significant experience developing planning-based strategies, which enable clients to understand their wealth and the impact it can have on their families and society,” according to UBS.

“We chose to transition to UBS for its access to worldwide resources offered by a global firm, comprehensive research, close working relationships with branch leadership, and comprehensive wealth management platforms,” explained Edward Dawson, who joins UBS as a managing director.

He has spent over 30 years in the financial services industry, including as a rep for Wells Fargo Clearing Services from 2001 until the move to UBS, according to his report on the Financial Industry Regulatory Authority’s website.

Kyle Dawson, who joins UBS as a financial advisor, chose to follow in his father’s footsteps after graduating from the University of Miami. He spent seven years in sales and marketing roles prior to joining UBS.

Hoy, who joins UBS as a senior wealth strategy associate, has more than 15 years of experience in customizing financial advice. She was registered with Wells Fargo for the past nine years. Before that, she was registered with Morgan Stanley (2009-2011) and Citigroup (2008-2009), according to BrokerCheck.

Patty Bribiesca, who joins UBS as a senior wealth strategy associate, has worked as a financial consultant for over 20 years. She was registered with Wells Fargo for the past 17 years. Before that, she was registered with Prudential (2000-2003).

Katherine Tawoda, who joins UBS as a senior registered client service associate, has over 17 years of experience in the financial services industry. She was registered with Wells Fargo for the past 16 years.

“As a firm, we aim to help our clients achieve their goals and create a better world for the next generation,” Scott Hollaender, Downtown San Diego branch manager at UBS Wealth Management USA, said in the announcement. “We know the team shares this philosophy and we look forward to seeing what they accomplish at UBS and how they go the extra mile to meet their clients’ needs.”

Wells Fargo’s advisor headcount has been dropping since a wide-ranging fake-accounts scandal became public in 2016. The number of both Wells Fargo financial and wealth advisors in the fourth quarter of 2020 stood at 13,513, versus 14,414 a year earlier and 13,793 in the prior quarter.

Last week, Wells Fargo announced that it would cut the number of regions in its private client group to 8 from 12.

(Pictured: Ed Dawson.)