UBS recruited two RBC advisers who managed $290 million in client assets, according to the firm.
Advisers Deborah Johnston and Erica Frantz joined the wirehouse in Minneapolis, where they report to Christopher Watkins, Minnesota market head and branch manager. Johnston and Frantz had worked at RBC Wealth Management.
Johnston, who got her start in the business in 2000, had spent her entire wealth management career at the regional firm, according to FINRA BrokerCheck records. She had been a member of RBC's Chairman's Council, according to UBS.
An illuminated sign hangs above the entrance to the UBS Group AG headquarters in Zurich, Switzerland, on Thursday, July 6, 2017. Switzerland is tightening capital requirements for PostFinance AG, Raiffeisen Schweiz and Zuercher Kantonalbank, three systemically important domestic banks, forcing them to set aside more funds to absorb losses and avoid government bailouts. Photographer: Michele Limina/Bloomberg
UBS, however, continues to attract high profile teams.
Earlier this month, four veteran Merrill Lynch advisers who oversaw about $1 billion in combined client assets joined UBS. In June, another team, also from Merrill, that generated more than $5.4 million in annual revenue joined the Swiss firm. The group, based in Ponte Vedra, Florida, managed about $900 million in client assets.
A vast majority of plan sponsors say that actively managed funds can beat the market, according to a new BlackRock survey. Research suggests otherwise.
Older Americans hold a higher allocation of stocks than they would like, according to the Center for Retirement Research. Researchers say that could be a positive, though not all advisors agree.
A limited federal tax credit, an above-the-line deduction for non-itemizers and restrictions on those of itemizers represent three of the biggest shifts under the new law.
Agentic AI in several forms took center stage as fintech executives made the case for their services at the first-ever AI-focused demo drop at Future Proof.