“Stephens and Rothenberg’s clients include corporate retirement plan sponsors, nonprofit organizations and wealthy individuals, according to Stephens’ UBS web biography. The sources said that despite their large book, the advisors chose not to affiliate with UBS’s private wealth management division for very wealthy clients.”
“We are excited to come to a firm that has a smaller, more focused group of people, where we feel we can really make a difference,” Rothenberg, who like his partner was a managing director at UBS, said in a prepared statement.”
Both the assets and production are ‘of scale’ as they say. And it follows another team in downtown LA that left UBS two months ago producing $11 million a year. UBS management in LA may have some explaining to do!