Advisor attrition at UBS Wealth Administration USA remained elevated within the first half of 2026 and stays on tempo to rival or exceed final 12 months’s ranges.
Within the first six months of this 12 months, a minimum of 27 groups managing $28 billion in property have left UBS for rivals, in accordance with an AdvisorHub tally of reported and introduced strikes. Following controversial modifications to advisor payouts, a minimum of 54 groups with practically $52 billion in property left within the full 12 months of 2025.
The departures present UBS has but to stabilize losses, even because it softened among the compensation cuts and rolled out an aggressive recruiting bundle. Nonetheless, UBS executives have mentioned they anticipate attrition to reasonable within the second half of 2026.
Though the modifications at UBS have been “properly obtained,” the agency continues to lose massive groups, and rebuilding belief between advisors and management can take time, mentioned trade recruiter Phil Waxelbaum.
“This isn’t one thing that’s going to go away quietly,” Waxelbaum mentioned. “My prediction is that the groups that we are going to see depart UBS will proceed to be the headline groups.”
A UBS spokesperson expressed confidence in its skill to “efficiently execute our development technique within the US.”
“We proceed to take a position considerably in expertise, platform and product innovation to raised assist advisors and purchasers and reinforce our place because the vacation spot of selection for advisors trying to construct, develop and transition their practices,” the spokesperson added.
UBS executives on earnings calls have highlighted optimistic indicators, together with the addition of $5 billion in web new property within the first quarter following a web outflow of round $14 billion in 2025. The agency is anticipated to report its second quarter earnings on Wednesday.
Attrition elevated from the primary half of final 12 months, when 24 groups with $16.eight billion in property left, though recruiters have mentioned advisors had been nonetheless digesting the impression of compensation modifications early in 2025. Exits are down sequentially from the second half of final 12 months as 30 groups with $35 billion left.
Wells Fargo landed the biggest variety of UBS defectors since January 1, reeling in a minimum of eight groups managing virtually $7.6 billion in mixed property. RBC Wealth Administration recruited a minimum of 4 groups with $2.three billion. Rockefeller World Household and Merrill Lynch every nabbed two groups, in accordance with the tally.
UBS’s retention efforts included a 2026 compensation grid that restricted among the cuts launched beneath the 2025 plan. It has additionally employed in current months numerous subject leaders from rival corporations, together with Wells, Morgan Stanley and J.P. Morgan Chase & Co. It additionally this month signed a workforce from Financial institution of America’s personal financial institution which oversaw $1.three billion in property.
In February, UBS promoted Lisa Golia to move of the sector, serving to to create a extra direct hyperlink between advisors and administration and employed Morgan Stanley’s Ben Firestein to guide recruiting.
In March, UBS rolled out a recruiting bundle valued at 550% of a candidates’ trailing 12-month revenues. The deal targets advisors who’ve generated round $7 million or extra in annual income and carries a 16-year dedication.