UBS hires upstate New York father-son adviser team managing $144M

UBS hires father-son adviser team managing $144M from rival wirehouse Morgan Stanley Wealth Management.
OCT 30, 2013
UBS Wealth Management Americas said Wednesday that it has hired a team of upstate New York advisers who managed $144 million in assets at Morgan Stanley Wealth Management. The Reinhold Group joined UBS' Buffalo, N.Y., offices Oct. 15, according to Gregg Rosenberg, a spokesman for the brokerage. Christine Jockle, a Morgan Stanley spokeswoman, confirmed the team's departure. The father-son team of John and Derek Reinhold had about $1.7 million in fees and commissions for the past 12 months, the UBS spokesman said in a statement. In 1976, John Reinhold and an associate opened the Buffalo office of Shearson Hayden Stone, which was later absorbed into a business purchased by Morgan Stanley, according to a biography on the latter's website. Derek Reinhold joined the practice in 2008, the biography said.

Latest News

Estate planning gaps leave families facing steep probate costs, new report finds
Estate planning gaps leave families facing steep probate costs, new report finds

With trillions of dollars set to change hands, new data suggests probate costs and delays are becoming a bigger factor in estate planning decisions.

Orion, RFG moves take aim at onboarding and transition speed
Orion, RFG moves take aim at onboarding and transition speed

Orion and RFG Advisory tackle account-opening delays with new updates as custodial integrations reshape how fast advisors can move client assets.

Corient adds $5B New York multi-family office Seven Bridges
Corient adds $5B New York multi-family office Seven Bridges

The deal extends the acquisitive mega-RIA's rapid 2026 expansion as industry consolidation hits record levels nationwide

Navigating the straight
Navigating the straight

As recent Middle East tensions put the Strait of Hormuz back in focus, a structured process with purpose can help protect investors against their natural self-sabotaging tendencies in choppy markets.

Commonwealth-affiliated Longwave hires from LPL-affiliated firm amid Pacific Northwest expansion
Commonwealth-affiliated Longwave hires from LPL-affiliated firm amid Pacific Northwest expansion

ESG-focused Longwave Financial, approaching $1B AUM, acquired Seattle-based MG Financial and hired a client services manager from an LPL-affiliated firm.

SPONSORED Direct indexing webinar targets tax-loss harvesting amid market swings

Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains

SPONSORED Who builds the income when the pension disappears?

Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income