UBS Wealth Management

The wirehouse boosted profitability even as advisor headcount dropped.

The 17-member team is one of the largest to switch employers in recent years.

The operation will start with six employees and offer services to boutique firms that don’t have the capabilities of a large private bank.

The changes are the firm's latest steps in a broad reorganization of its wealth management business since it hired Iqbal Khan from rival Credit Suisse.

More often than not, wirehouses were on the losing side of these moves.

The new hires signed on with the firm’s employee broker-dealer.

The firm is looking for ways to maintain its edge and reinvigorate its shares, which have trailed rivals over the past year.

In 90% of families, wealth disappears by the end of the third generation.

The wirehouse last made changes to its compensation plan in 2016.

It’s the second biggest move in 2019, and includes an advisor featured in On Wall Street’s Top 40 Under 40.

The move underscores wealth managers’ increasing focus on the not-yet-fabulously rich to boost profitability.

It’s the sixth time so far this year that former Credit Suisse advisors have won damages against the firm.

The wirehouse brought on 10 advisors from several rivals.

After a recent policy switch, many clients at the wirehouse can no longer use balances from their deposit accounts to purchase shares in these funds.

As Bob Dylan once sang, “the times they are a-changin.”

A quarter of wealthy investors' average assets are currently in cash, according to a new survey.

Nearly $388 billion of the super rich's net worth has been wiped away since 2016.

The bank has filed similar lawsuits this year over alleged non-solicitation violations against advisors who departed for competitors.

The strategy mimics one the executive used to boost profit at his previous employer, cross-town rival Credit Suisse.