Advisers on the Move

Adviser team managing $340 million at UBS goes indie with Kestra

Jeffrey Boudjouk, two other advisers and assistant set up hybrid in Rhode Island

Jun 7, 2018 @ 1:37 pm

By InvestmentNews

A team of advisers who formerly managed $340 million at UBS in Cranston, R.I., have left the firm and established a hybrid, Northeast Investment Group, which has affiliated Kestra Financial.

The new firm will use Kestra's broker-dealer and registered investment advisory platforms.

Northeast is led by managing partners Jeffrey Boudjouk and Anthony Landi, and includes partner Deborah Shuster and Kelly Almonte, the firm's client relationship manager.

The new firm's advisers have been in the securities industry for decades and worked for several large firms. They all left UBS recently, except for Mr. Boudjouk, who was discharged by the firm last December. According to his BrokerCheck record, he was discharged for "failing to timely disclose a litigation and for a repeated failure to notify the firm of his deposition in that litigation; and for providing confidential client information and privileged documents to the parties of the litigation, both in violation of the firm's code of conduct and the firm's communication policies."


What do you think?

View comments

Recommended for you

Featured video


Behind the scenes at Pershing Insite 2018

What goes on behind the scenes at one of the industry's biggest conferences? Join us for an all-access sneak peek!

Latest news & opinion

Mutual funds feel the pinch of platform fees

No-transaction-fee options are a big hit with investors, but funds wind up paying the costs — and passing them on.

Divorce reduces retirement readiness

The new tax law could increase financial challenges for divorced people, but planning opportunities abound.

Merrill Lynch fined $42 million for misleading customers

In addition to the practice of 'masking' trades, the wirehouse went to extremes to cover up the wrongdoing.

Advisers with billions in AUM leaving Wall Street

Merrill Lynch has seen two teams exit recently, each with more than $4 billion in client assets.

Wells Fargo weighs changes to wealth unit

The move would reflect the bank's effort to cut $4 billion in costs.


Hi! Glad you're here and we hope you like all the great work we do here at InvestmentNews. But what we do is expensive and is funded in part by our sponsors. So won't you show our sponsors a little love by whitelisting It'll help us continue to serve you.

Yes, show me how to whitelist

Ad blocker detected. Please whitelist us or give premium a try.


Subscribe and Save 60%

Premium Access
Print + Digital

Learn more
Subscribe to Print