UBS sees 2.2% decline in advisor headcount during the past 12 months

UBS wealth management in the Americas continues to see a decline in its overall team of financial advisors, today reporting a decline of 2.2% – 129 financial advisors over the past year.

It’s been a slow, steady drip of financial advisor attrition at UBS in the United States for several years. A change in some financial advisors’ compensation – announced at the end of 2024 and retracted less than a year later – didn’t help.

A year ago, UBS reported 5,773 advisors in the Americas at the end of June. In 2026, that number is 5,644 for the 2.2% decline.

Meanwhile, with the stock market near record highs, UBS reported $900 million during the second quarter in net new asset inflows for its wealth management Americas group, despite $10 billion in second quarter tax-related outflows. 

Wealth management in the Americas also reported profit before tax of $534 million for the three months ending June 30, an increase of $170 million.

UBS management has spoken publicly about the decreasing headcount of its financial advisors.

UBS, like the other wirehouses, for several years has also seen a steady departure of its veteran advisors to independent registered investments advisors, where advisors have both more autonomy as well as the ability to make more money.

Independent advisors often own their own practices and also take home a bigger percentage of annual revenue in fees and commissions they generate.

UBS and other big firms counter those benefits for advisors by stressing state-of-the-art technology, national marketing campaigns, including championship sporting events, and access to alternative investments and sophisticated money managers.

“We're comfortable with the steps we're taking to drive full year net new assets in wealth in the Americas,” said Todd Tuckner, chief financial officer, during a conference call with analysts Wednesday. “We also recognize there's a lag effect from previously announced FA movement that will continue to show up in flows for a few quarters.”

“This said, we're actively recruiting and investing in teams aligned with our profitability ambitions,” Tuckner added. “And it's important to note that rotation among financial advisers remains elevated across the industry given record valuations. But we continue to expect these dynamics to normalize in our book over the course of 2026.”

According to Reuters, UBS AG, the giant Swiss bank, booked a 17% ​jump in second-quarter profit that beat expectations, and said it plans to buy back shares worth $3 billion by the middle of next year ‌at the latest.