UBS Wealth Administration USA’s income rose as the corporate stated its multi-year technique reset was paying off whilst advisor headcount continued to fall.
The Swiss-owned UBS Americas wealth unit, which features a cadre of advisors in Canada and Latin America, reported working income rose 46% from a yr in the past to $534 million on $3.Four billion in revenues, which additionally rose 17% in the identical time interval.
In the meantime, the advisor roster shrank about 2.2%, dropping to five,644 from 5,773 a yr in the past. That was down 1.4%, or a web 78, from 5,722 within the first quarter of 2026.
“Within the Americas, disciplined execution of our strategic priorities continues to drive stronger momentum and profitability,” Todd Tuckner, UBS chief monetary officer, informed inventory analysts throughout a post-earnings name on Wednesday.
When requested about advisor exits—which have taken place at a gradual clip for a number of quarters—and the implications for consumer asset development, Tuckner emphasised web new asset development, minimized the importance of the defections and didn’t pledge an instantaneous turnaround.
The unit’s web new belongings remained optimistic for the second sequential quarter and reached $900 million. That in comparison with an outflow of $3.5 billion for a similar quarter in 2025.
Regardless of web outflows for the total yr in 2025, UBS anticipated to put up web inflows this yr as retention improved and it employed groups “aligned with our profitability ambitions.”
“We’re comfy with the steps we’re taking to drive full yr web new belongings in Wealth within the Americas,” Tuckner stated. “We additionally acknowledge there’s a lag impact from beforehand introduced FA motion that may proceed to point out up in flows for a number of quarters.”
Tuckner additionally pointed to the excessive quantity of advisor turnover taking place all through the wealth administration world.
“It’s essential to notice the rotation amongst monetary advisors stays elevated throughout the business, given report valuations,” he stated. “However we proceed to anticipate these dynamics to normalize in our e book over the course of 2026.”
UBS is the final of the 4 wirehouses to nonetheless present headcount, which makes it tough to trace advisor losses throughout the business. Regional companies have additionally stopped disclosing as ceaselessly or in any respect as companies have emphasised figures comparable to web new belongings as being a stronger indicator of development.
The “broader level” Tuckner emphasised was that the corporate continues “to work via” the “challenge” of the defections.
“This can have a tapering influence, which is why we’ve been forecasting and guiding on optimistic web new belongings for the yr, contributing from Wealth within the Americas,” he stated. “We anticipate the development to proceed and would anticipate an enhancing second half as effectively.”