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Capital is leaving UBS.

What's actually leaving UBS, and where it's going. The brief we share with our advisors, tailored to your business.

UBS

Industry Brief

Since 2024 · Recruiting & Transitions

$100B+

has departed UBS in publicly reported team moves since January 2024.

winthropco.com / research

  • At least 27 teams

    managing $28B departed UBS, publicly reported, H1 2026

  • 60 to 120 days

    a typical UBS engagement, from diligence to day one

What's happening right now

Your peers are quietly evaluating.

A snapshot of recent transitions tracked from UBS. Names anonymized where confidentiality required. The full ledger lives inside the UBS Options Brief.

  • Jan 31, 2027

    Unnamed UBS team (Julie Fox, Mara Glassel)

    → &Partners

    Undisclosed

  • Oct 20, 2026

    Truing Capital Advisors

    → Elevation Point

    $750M

  • Oct 8, 2026

    Strong Wealth Management Group (Andrew Strong, Jonathan Strong, Christian Strong)

    → Wells Fargo Advisors

    $410M

  • Sept 30, 2026

    Cullman/Holt Group (Cullman, Holt; Upper Arlington/Dublin, OH)

    → Wells Fargo FiNet

    $1.3B

  • Sept 15, 2026

    Shafer-Block team (Shafer, Block; Wayzata, MN)

    → NewEdge Wealth

    $1.25B

Showing 5 of 43

The table shows a recent selection, from May 2025. The $100B+ total above counts publicly reported UBS team moves from January 2024 through September 2026.

We track every documented transition. The UBS Options Brief includes the full ledger plus the destinations sized to your book.

Why now

Four catalysts pushing UBS advisors out.

  1. 01

    Highest Producer Grid replaces Combined Team Grid

    The 2025 compensation overhaul ties team-member payouts to the single top producer's revenue rather than the team's aggregate, restructuring decades of team economics overnight.

  2. 02

    Credit Suisse integration friction

    Two years post-acquisition, bureaucratic bottlenecks persist: bespoke marketing approvals, technology requests, and client support workflows still face unusual delays.

  3. 03

    $20B regulatory capital overhang

    The Swiss FINMA capital requirement compresses domestic investment and signals continued margin pressure on U.S. wealth operations.

  4. 04

    Margin optimization over advisor headcount

    Leadership has prioritized pre-tax margin expansion over retention. The 2-percentage-point margin lift came directly from advisor attrition the firm chose to absorb.

Compare your paths

Four credible options. Side by side.

The UBS Options Brief includes the version of this matrix sized to your book, with economics, equity, and platform tradeoffs detailed.

Optimize at UBS

Stay where you are with a clearer view of grid mechanics, equity options, and what's actually negotiable internally.

Boutique destination

Full brand and data ownership with white-glove service and tighter alignment.

Hybrid-RIA

Multi-custody flexibility, equity potential, and a wider product menu.

Independent RIA

Complete autonomy, brand control, modern tech stack, and durable enterprise value.

New · H1 2026 data

The UBS Movement Report: H1 2026

206 producing advisors left, at least 27 teams managing $28B departed, and UBS answered with its reported March 2026 package of 550% on a reported 16-year commitment, depending on the book, against wirehouse packages closer to 400%. Six pages: the destinations, the response decoded, and ALFA priced against the open market. Delivered free to your personal inbox.

Get the report

What you get

Inside the UBS Options Brief.

Built for UBS advisors evaluating their next chapter. Delivered confidentially within minutes.

  • Your options across the whole market, sized to your book and structured around your priorities.

  • Side-by-side economics matrix: grid, equity, capital, and support across each option.

  • Deferred compensation and clawback analysis specific to your UBS contract.

  • 12b-1 revenue treatment compared across each firm you consider.

  • Introductions to independent securities counsel, who advise on the agreements and on client outreach.

  • Day-one readiness checklist plus 90-day post-move support cadence.

  • Built for your specific tenure and book composition
  • Delivered privately, only to you
  • No obligation to act on what you read

Request the UBS Options Brief

Confidential. In minutes.

No exclusivity. The UBS Options Brief lands in your personal inbox automatically, with the data and framing you need to evaluate your next chapter privately.

What would you like?

Confidential by default. Nothing shared with UBS.

How we work

From first call to first trade.

A typical UBS engagement runs 60 to 120 days from diligence to day one. Confidential at every step.

  1. Week 1

    Diligence

    We weigh your goals, constraints, and portability against the live market.

  2. Weeks 2 to 3

    Options

    The open market, measured against your book and your priorities.

  3. Weeks 4 to 6

    Negotiate

    Terms, equity, capital, and support. Side-by-side. On your terms.

  4. Weeks 6 to 12

    Execute

    A clean transition, with client communications and day-one readiness.

FAQ for UBS advisors

The questions you're probably already turning over.

If yours isn't here, ask it directly in a .

  • What is UBS Pathways, and should I sign it?
    Pathways, launched in March 2026 inside the ALFA program, advances part of your future ALFA payout up front in exchange for a commitment to retire at UBS, and as reported the money has to be repaid if you leave. For 2027, UBS also widened eligibility and added a growth bonus for above-average net new asset growth. If you already plan to retire at UBS, it brings succession money forward. If you have not decided, it puts a price on leaving. Either way, know your number before you sign; it depends on your book of business.The Pathways Read
  • How does the new Highest Producer Grid affect my transition timing?
    If you're on a team that previously benefited from the Combined Team Grid, the math has already changed. We model both your current effective payout and your transition-receiving payout side-by-side so you see exactly what's at stake on each side.
  • What about my deferred compensation and clawback periods?
    We pull the full schedule of your deferred comp and clawback exposure, then benchmark against the transition packages each firm you consider is offering. In most cases the offset is meaningful, but the calculus is specific and we work through it in the Industry Brief.
  • How is 12b-1 trail revenue handled in a transition?
    UBS's recent move to retain mutual fund 12b-1 fees materially affects total compensation for some teams. We compare how each receiving firm treats these revenue streams. Many maintain advisor-level sharing where UBS does not.
  • Can I bring my analyst or admin team?
    Almost always, yes. Receiving firms typically extend transition support to retain key team members, and many compensate analyst or admin transitions directly. We negotiate this explicitly into your transition package.
  • What's the typical timeline for a UBS team?
    Most UBS transitions run 60 to 120 days from notice to day one. We've moved teams faster (some in 30 to 45 days when timing demands it) and we've moved teams slower (when client comms benefit from a quieter sequence). Your timeline is yours.

For advisors at UBS

Your move. Privately.

The UBS Options Brief arrives in your personal inbox in minutes. Confidentially. No obligation.

Winthrop & Co.