UBS recruited five advisors managing nearly $1.3 billion in client assets from competitors, according to an internal memo sent March 28 and obtained by On Wall Street.
In addition to the advisors, the firm added a new member to its recruiting team. Michael Price, who became a branch manager in 2016, will be responsible for recruiting teams that serve high-net-worth and ultrahigh-net-worth clients, according to the memo, which was sent to the UBS market heads by Michael McVicker, head of business and change management at the firm.
The wirehouse pursues a selective approach to recruiting veteran talent, having
In its most recent recruiting sweep, UBS brought on new brokers at four branch locations.
A team that generated $5.5 million in annual revenue and managed $876 million in assets joined UBS in Dallas, according to the memo.
Troy Swaner left Merrill Lynch where he had spent the last five years, according to FINRA BrokerCheck records. Fowler Hatley, who worked at U.S. Trust, according to LinkedIn, also moved with Swaner. Hatley is not currently a registered financial advisor, according to BrokerCheck, but a spokesman at UBS confirmed he has joined the firm and will be registered as an advisor in the next 60 days.
Parents who don't effectively communicate estate plans to their children set them up to fail financially, emotionally and relationally.
Dayne joined Quantum Health as its new CEO and member of its Board of Directors in January 2025. As CEO, he drives the overall business strategy and execution for Quantum Health. He was most recently the founder, CEO and Executive Chairman of PlanSource, a leading technology company that automates and simplifies benefits programs for over 5 million employees, and its platform helps employers better administer their health benefits. A proven scaler of transformative companies, he focuses his impressive health benefits industry experience to drive growth and unlock new market value and operational scale.
Matthew Pallai said he has no doubt wealth managers explained the risks of private credit when recommending it to clients, but the recent rush to withdraw money from credit funds suggests "they probably should have said it more often and said it louder."
Also moving to UBS from Merrill Lynch is advisor Adrienne Hart. She had worked at Merrill 14 years, according to BrokerCheck. The Indianapolis-based advisor managed $95 million in assets and generated $742,000 in annual revenue, according to the memo.
An advisor who generated $1.4 million in revenue and managed $200 million in client assets joined UBS in Carmel Valley, California, according to the memo. Dustin Rief had been previously affiliated with Mercer Advisors, where he had been registered since 2003, according to his IAPD report.
And advisor Patrick Ford is making his first career move after 31 years at Merrill Lynch, according to BrokerCheck. Ford is joining UBS in New Albany, Ohio. He managed $104 million in client assets and generated $1.2 million in annual revenue, according to the memo.
Spokespersons at Merrill Lynch and Mercer Advisors did not respond to a request for comment on the departures.
