UBS Wealth Management Americas said it will offer clients in its separately managed account program asset allocation ideas from Richard Bernstein Capital Management LLC, a registered investment adviser, whose eponymous founder was formerly Merrill Lynch & Co. Inc.'s chief investment strategist.
UBS Wealth Management Americas said it will offer clients in its separately managed account program asset allocation ideas from Richard Bernstein Capital Management LLC, a registered investment adviser, whose eponymous founder was formerly Merrill Lynch & Co. Inc.'s chief investment strategist.
The research is available through UBS' Portfolio Management Program, a discretionary fee-based account of predominately exchange-traded funds. The research focuses on overall equity-versus-bond recommendations, size and style positioning, and international allocations.
The “exclusive” relationship with Bernstein Advisors will be overseen by Mike Ryan, head of UBS wealth management research for the Americas, the company said in a news release. Mr. Ryan's research group is the only one on Wall Street dedicated solely to private investors and financial advisers, according to the release.
UBS Wealth Management Americas is an outgrowth of the former Paine Webber & Co. brokerage business.
Robert McCann, who joined UBS Wealth Management Americas as chief executive last year, is a longtime Merrill Lynch executive who has recruited several senior managers from that firm to help revive the business.
Bernstein Capital Management, which sells its research primarily to investment companies and other institutional investors, is changing its name to Richard Bernstein Advisors to avoid confusion with RBC Capital Management, a spokemsna for Bernstein said.. About 10% of Bernstein Advisors' clients are broker-dealers and other investment advisers, according to the firm's most recent ADV filing with the Securities and Exchange Commission.
