UBS said late Wednesday that it hired 11 new financial advisors with $1.2 billion in assets under management and $9 million in revenue, mainly from Morgan Stanley and Wells Fargo.
A six-person FA team with nearly $660 million in assets and $6 million in trailing-12-month's fees and commissions in Washington, D.C., joined UBS Private Wealth Management from Morgan Stanley.
The team includes Frederick Schultz, Lloyd Seested, David Andreadis, Richard Haskin, Eric Teichberg and Karen Ben-Shlaush. These advisors now report to Rod Von Lipsey, a private wealth manager.
"The addition of this strong team to a talented and successful group of UBS advisors in [Washington] underscores our commitment to the D.C. region, one of the key markets for our business," said Robert McCann, CEO of UBS Wealth Management-Americas, in a statement.
Dennis Dougherty and Bryan White are now part of the UBS Denver Tech Center office, coming over from Wells Fargo with about $120 million in assets and $1.1 million in yearly fees and commission, or production. They report to complex director John Lester.
Linda Gelson is joining the UBS office in Stamford, Conn., while Randolph Byrd is now part of the Centerville, Ohio, office. Both came to UBS from Morgan Stanley Smith Barney.
