Free guide — UBS edition
The UBS Movement Report: H1 2026
206 producing advisors left, 27 teams managing $28B departed, and the firm answered with a 550% package on a 16-year commitment. The full movement picture.
What's inside
A six-page brief built for UBS advisors from The State of Advisor Movement's registered-rep data and public reporting. The H1 2026 UBS ledger, the destination table for the 154 leavers who re-registered, the 550% package and the 2026 response decoded, the ALFA program from the report's sunset exhibit, and the arithmetic for what the same practice is worth on the open market.
- UBS's H1 2026 ledger: 77 joins, 206 departures, and the team-level tally, 27 teams, $28B
- Where the 154 re-registered leavers landed, by destination channel
- The 550% / 16-year structure decoded, and the rest of the 2026 response
- ALFA priced against the open market: revenue multiples, EBITDA multiples, exit math
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Where UBS advisors actually went in 2026
Registered-rep movement data from The State of Advisor Movement, H1 2026 shows 206 producing advisors departed UBS against 77 joins in the first half, the deepest net producing deficit among the twelve firms the report tracks. Of the 154 leavers who re-registered by the end of June, 34.4% joined another wirehouse, 27.3% an employee or regional broker-dealer, 22.7% an independent broker-dealer, and 13.6% an independent RIA. On the team ledger, trade reporting counted at least 27 departing teams managing $28B in the half, with Wells Fargo landing at least eight of them and RBC Wealth Management at least four. Roughly 6 in 10 departing UBS advisors stayed inside the employee model.
The 550% package and the ALFA, priced honestly
UBS's publicly reported recruiting offer, 550% of trailing twelve-month revenue for advisors producing roughly $7M or more, carries a commitment of approximately 16 years, the longest runway in any published wirehouse structure. The consideration is paid for tenure; it does not change what the advisor owns at the end. The same reading applies to the ALFA sunset, which pays up to roughly 300% of trailing-12 in a multi-year structure at a non-Protocol firm. The brief prices both against the open market, where practices under a broker-dealer trade at roughly 1.5x to 3x recurring revenue and RIA firms traded at a record median 11.6x EBITDA in 2025.
Common questions
Where do UBS advisors go when they leave?+
Measured from registered-rep data covering the 154 producing advisors who left UBS and re-registered in H1 2026: 34.4% joined another wirehouse, 27.3% an employee or regional broker-dealer, 22.7% an independent broker-dealer, 13.6% an independent RIA, and 1.9% a bank broker-dealer. On the team level, Wells Fargo landed at least eight departing UBS teams managing almost $7.6B and RBC Wealth Management recruited at least four with $2.3B, with Rockefeller and Merrill taking two each, per AdvisorHub's tally.How many advisors left UBS in 2026?+
In the first half of 2026, 206 producing advisors departed UBS against 77 joins, per registered-rep movement data prepared for The State of Advisor Movement, and trade reporting counted at least 27 teams managing approximately $28B leaving UBS Wealth Management USA. For comparison, at least 54 teams with nearly $52B departed across full-year 2025.What is the UBS 550% recruiting package?+
A recruiting offer introduced in March 2026, reported at 550% of trailing twelve-month revenue for advisors producing approximately $7M or more, carrying a commitment of roughly 16 years. It is the most aggressive publicly reported structure in the wirehouse channel and a retention-driven print at the very top of the market rather than a general rate. The headline multiple prices the seat; the sixteen-year term is the part that deserves the closer read, because the consideration is paid for tenure rather than ownership.What does the UBS ALFA program pay?+
UBS's Aspiring Legacy Financial Advisor program pays up to roughly 300% of trailing-12 production in a multi-year sunset with a forgivable-loan element, tied to staying through the transition. UBS is a non-Protocol firm, and the program competes with the firm's own external recruiting for the same retiring cohort. The alternative worth pricing before signing is an open-market sale, which carries successor choice, capital-gains treatment, and no post-sale employment term.
Flagship research
The full picture lives in The State of Advisor Movement.
Six months of measured advisor movement: the firm-by-firm ledger, destination channels, deal economics, and the rent-or-own framework, in an interactive edition and a 41-page print edition. Both free.