According to AdvisorHub, the broker moved alone to First Republic’s private wealth management arm, and had generated some $6 million in annual revenue from $2 billion in client assets.
This is part of a continuing departure of brokers from UBS, despite the fact that the firm withdrew from the Protocol for Broker Recruiting, the industry agreement that allows brokers to contact their former clients when moving among member firms.
https://advisorhub.com/first-republic-nabs-6-mln-ubs-producer-in-los-angeles/
---
Mark Astarita is a New York securities lawyer who represents investors and financial professionals across the country in securities arbitrations and investigations, and has been doing so for over 30 years. He has represented brokers transitioning between firms for years. Call him at 212-509-6544 or email him at mja@sallahlaw.com if you have any questions, comments or concerns regarding such matters.
