UBS bolsters Miami downtown office with Citi, Wells Fargo, and Truist hires

UBS bolsters Miami downtown office with Citi, Wells Fargo, and Truist hires
From left: Jose Garcia, financial advisor at VPHN Wealth Partners; and David Cardenas, Ary Velasco and Michael von Borsig at AMD Wealth Partners.
The firm is making headway in the Florida wealth market with four wirehouse advisors who collectively oversaw nearly $2 billion at their former firms.
NOV 25, 2024

UBS is strengthening its presence in South Florida's wealth market as a number of advisors from rival banking firms Wells Fargo, Citi, and Truist converge to join its downtown Miami office.

On Monday, the firm announced financial advisor Jose Garcia as the newest member of UBS Wealth Management. He joins part of VPHN Wealth Partners, a team led by private wealth advisors Melissa Van Putten-Henderson and Doris Neyra, who departed Wells Fargo Private Bank in 2021 to make a fresh start at UBS.

Garcia also joins UBS from Wells Fargo Private Bank, where he managed over $500 million in assets as he focused on investment portfolio design and wealth management strategies for high-net-worth and ultra-high-net-worth clients. Prior to that, he also held a role at BNY Mellon, where he gained experience in providing customized client solutions and wealth management services.

“Jose brings a deep understanding of clients’ complex needs and a strong commitment to helping them achieve their financial goals,” Brad Rosenberg, greater Miami market director at UBS Private Wealth Management said in a statement Monday. 

Also joining the Miami office were AMD Wealth Partners, which includes Ary Velasco, Michael von Borsig, and David Cardenas. Previously managing over $1.4 billion in client assets collectively at their former firms, the three bring nearly 80 years of combined industry experience as the newest team at UBS Private Wealth Management.

Velasco has worked in wealth management for nearly four decades, focusing on creating integrated financial plans that incorporate investments, lending, insurance, and trust services. With a career that includes roles at Truist, Northern Trust, Lydian, Sabadell, and Citi, his approach aims to protect and grow client wealth through changing economic and geopolitical conditions. 

Meanwhile, von Borsig brings nearly 20 years of wealth management experience across roles at Citi Private Bank, Barclays, Stifel, and Union Bancaire Privée in Geneva, Switzerland.  For his part, Cardenas has amassed nearly a decade of experience providing wealth management advice to business owners, real estate developers, and investors. Most recently, he was a private banker at Citi, where he specialized in investment, banking, and lending services for affluent clients.

“On behalf of the entire Florida leadership team, I am thrilled to welcome Ary, Michael, and David to UBS,” Rosenberg said in a separate announcement. “They bring a shared commitment for delivering personalized best-in-class service and solutions for their clients.”

Latest News

Advisor moves: Atlas tops $1B as Wells Fargo, UBS add bank veterans
Advisor moves: Atlas tops $1B as Wells Fargo, UBS add bank veterans

Wells Fargo adds two bank-channel recruits, UBS lands a JPMorgan Chase veteran, and a multi-family office lifts Atlas past $1B

Advisor mom’s son used her password to log into clients’ accounts, sell deal with conflicts, according to Washington state
Advisor mom’s son used her password to log into clients’ accounts, sell deal with conflicts, according to Washington state

“The state comes down on you in years when you make 40% returns for clients,” said Bill Swayne, the advisor and son of Candace Swayne.

Osaic in talks with Anthropic as AI reshapes advisor workforce
Osaic in talks with Anthropic as AI reshapes advisor workforce

The Independent broker-dealer giant has had “active conversations” with the Claude maker, which is days away from its expected IPO

The retirement milestone advisors aren't tracking
The retirement milestone advisors aren't tracking

For Gen X clients entering life after work, answering the financial question isn't enough to solve the entire retirement equation.

Wealthtech firms target stock pay, pensions and heirs for advisors
Wealthtech firms target stock pay, pensions and heirs for advisors

Tools from Grantd, Income Lab and Healthspan Wealth aim to keep RIAs involved in clients’ biggest money decisions

SPONSORED Best Practices for Engaging Women Around Alternatives

Growing wealth, evolving priorities, and untapped opportunities are reshaping how women approach long-term investing.

SPONSORED Built on insurance experience to deliver on long-term promises

Knighthead Life entered the market with a competitive MYGA. A strong launch earned advisor confidence and paved the way for FIAs.