UBS Claws Again $5.6 Million From LPL Dealer in New Jersey

UBS Wealth Administration USA clawed again greater than $5.6 million from a dealer who left the wirehouse after two years for LPL Monetary in Paramus, New Jersey, in keeping with an arbitration award issued Thursday. 

Terance A.O. Takyi, who had joined UBS in New York Metropolis in Could 2023 from First Republic Financial institution because the San Francisco-based financial institution collapsed, left the Swiss-owned brokerage unit  in June 2025 and joined LPL six months later. He had generated round $2 million in income from $227 million in belongings on the time he moved to UBS. 

A panel of one-non public and two public arbitrators ordered that Takyi should repay UBS the $5.5 million owed on the recruiting mortgage plus curiosity and $163,000 in attorneys’ charges, in keeping with the Monetary Trade Regulatory Authority award. 

Takyi, who represented himself within the arbitration, denied allegations and counterclaimed that UBS had mistreated him whereas working on the agency. He additionally made claims of wrongful termination and constructive discharge, which UBS denied, in keeping with the award. 

The panel denied Takyi’s counterclaims, in keeping with the award. 

Takyi began his profession at J.P. Morgan, labored at Voya Investments Distributor and Goldman Sachs earlier than returning to J.P. Morgan in 2019 and joined First Republic in 2021, in keeping with BrokerCheck. 

Takyi didn’t instantly reply to a request for remark despatched by way of social media.

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