UBS Wealth Management has added another advisor team from Merrill Lynch and not for the first time this year.
Led by financial advisor Charlie Bergman, an industry veteran with 25 years of experience, the BG Wealth Management also includes financial advisor Justine Greenwald who also has a quarter century in the industry, and client associates Lisa Moavero and Alona Porat.
The quartet manages $640 million in invested client assets and follows a duo with the same AUM who left Merrill Lynch for UBS in Florida in February.
Two teams also transferred between the two firms in January, including the San Francisco-based Klinger Quan Group, which manages more than $1.3 billion in assets, and Hartford, Connecticut-based David Sacharko and Sean Siana, who oversee $340 million in assets.
UBS is headquartered in Switzerland, but around 30% of its employees are based in the Americas across its divisions.
The latest additions to its U.S. wealth management business in expands the firm’s capabilities in Pepper Pike, Ohio.
“The team’s industry experience and dedication to their clients will be a great addition to our business, and we look forward to having them help us continue to expand our client offering in this key market,” said Deb Junior, Pepper Pike market director at UBS Wealth Management USA.
"The outcome is correct, but it's disappointing that FINRA had ample opportunity to investigate the merits of clients' allegations in these claims, including the testimony in the three investor arbitrations with hearings," Jeff Erez, a plaintiff's attorney representing a large portion of the Stifel clients, said.
The collaboration will give RIAs yet another access point into the alternatives space through a new unified managed account capability.
A drop in interest rates and easier access to capital has reignited appetite among private equity-backed consolidators, who accounted for 53% of RIA deals so far this year- their highest share since 2021 according to DeVoe & Company.
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Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.
