UBS

Unpopular compensation changes at UBS continue to drive advisor attrition, costing the firm billions in client assets. But despite the outflows, executives say the new policy is helping improve UBS' profits.

The Swiss wealth management giant says many of its U.S. clients now "largely rely on other banks for their everyday banking needs."

Also remarkable: the size of the teams that are leaving and the types of firms benefiting from the defections, a new report from Diamond Consultants finds.

Despite pushback in U.S., investing to promote environmental, social and governance causes remains popular among young and women investors, says UBS co-head of global investment management.

UBS contends a group of advisors who left this month to form an RIA inherited most of their clients from retired advisors who were counting on being paid from their former books of business.

The plan to issue shares on the NASDAQ stock exchange comes three years after UBS abandoned plans to acquire Wealthfront.

In an earlier than usual announcement, UBS said it will update its 2026 compensation grid for U.S. advisors, aiming to curb departures and encourage more work with high net worth clients.

In its third suit in as many months, JPMorgan is accusing a former advisor of using its banking referrals to build a book of business and then trying to abscond with those clients to a rival firm.

Golden State Wealth Management is just the latest large advisory team to exit UBS following changes the wirehouse made to its compensation policies.

The Swiss financial giant also saw its assets flow out of its Americas business in the second quarter as advisors left and clients set aside billions for taxes.