UBS, After Dumping the Broker Protocol, Continues to See Brokers Come and Go

When UBS Financial Services Inc. decided to leave the protocol for broker recruiting at the end of November, many in the industry believed it would have a chilling effect on broker movement at the wirehouse. That has not happened. Brokers continue to come and go at UBS, with those leaving outpacing the number joining over the past three-and-a-half months. From the end of November, when UBS decided to dump the protocol, InvestmentNews​ has tracked 14 individual or teams of advisers leaving UBS with about $4.3 billion in assets under management. Over the same time, InvestmentNews tallied five teams or individuals joining UBS Wealth Management Americas, and those advisers manage about $1.9 billion in AUM…READ MORE