UBS is bracing for significant advisor losses throughout 2020. At least they better be. The aggressive comp grid changes provided the perfect cover for advisors and teams on the edge when considering a move to a new firm, to hit the bid.
**The $14M dollar team that we were given the tip on late Friday is one of the teams that we were alluding to in this article. And there are more to come.**
The first fruits of UBS’ mistakes is about to start hitting the tape.
In a discussion with a highly regarded recruiter, that is plugged in across the industry, the expectations for a coming wave of UBS departures is significant. So much so that one of the flagship teams in the country’s center is ‘dotting i’s and crossing t’s’ on their transition.
“This isn’t a surprise, as UBS was already vulnerable before the flood gates finally opened. It is nearly impossible to quantify the the scale of the company grid miss-step and how quickly the fallout has developed.”
”Expect three different teams to be in the news in short order, one of them will be an eye opener on the East Coast. And you aren’t going to have to wait very long for it to hit the tape. Not going to give it completely away, but it’s a big one.”
As the conversation continued and went off background more details were shared. Again, this one will be a big loss for UBS and a huge win for the firm that will be welcoming them.
Brace yourselves folks, it’s about to get litty litty on the recruiting trail.
