Advisor attrition at UBS Wealth Management USA remained elevated in the first half of 2026 and remains on pace to rival or exceed last year\u2019s levels.<\/p>\n
In the first six months of this year, at least 27 teams managing $28 billion in assets have left UBS for rivals, according to an AdvisorHub tally of reported and announced moves. Following controversial changes to advisor payouts, at least 54 teams with nearly $52 billion in assets left in the full year of 2025.\u00a0<\/p>\n
The departures show UBS has yet to stabilize losses, even as it softened some of the compensation cuts and rolled out an aggressive recruiting package. Nonetheless, UBS executives have said they expect attrition to moderate in the second half of 2026.<\/p>\n
Although the changes at UBS have been \u201cwell received,\u201d the firm continues to lose large teams, and rebuilding trust between advisors and leadership can take time, said industry recruiter Phil Waxelbaum.\u00a0<\/p>\n
\u201cThis is not something that\u2019s going to go away quietly,\u201d Waxelbaum said. \u201cMy prediction is that the teams that we will see depart UBS will continue to be the headline teams.\u201d<\/p>\n
A UBS spokesperson expressed confidence in its ability to \u201csuccessfully execute our growth strategy in the US.\u201d<\/p>\n
\u201cWe continue to invest significantly in technology, platform and product innovation to better support advisors and clients and reinforce our position as the destination of choice for advisors looking to build, grow and transition their practices,\u201d the spokesperson added.<\/p>\n
UBS executives on earnings calls have highlighted positive signs, including the addition of $5 billion in net new assets<\/a> in the first quarter following a net outflow of around $14 billion in 2025. The firm is expected to report its second quarter earnings on Wednesday.\u00a0<\/p>\n Attrition increased from the first half of last year, when 24 teams with $16.8 billion in assets left, although recruiters have said advisors were still digesting the impact of compensation changes early in 2025. Exits are down sequentially from the second half of last year as 30 teams with $35 billion left.\u00a0<\/p>\n Wells Fargo landed the largest number of UBS defectors since January 1, reeling in at least eight teams managing almost $7.6 billion in combined assets. RBC Wealth Management recruited at least four teams with $2.3 billion. Rockefeller Global Family and Merrill Lynch each nabbed two teams, according to the tally.<\/p>\n UBS\u2019s retention efforts included a 2026 compensation grid<\/a> that limited some of the cuts introduced under the 2025 plan. It has also hired in recent months a number of field leaders from rival firms, including Wells, Morgan Stanley<\/a> and J.P. Morgan Chase & Co.<\/a> It also this month signed a team from Bank of America\u2019s private bank which oversaw $1.3 billion<\/a> in assets.\u00a0<\/p>\n In February, UBS promoted Lisa Golia<\/a> to head of the field, helping to create a more direct link between advisors and management and hired Morgan Stanley\u2019s Ben Firestein to lead recruiting.\u00a0<\/p>\n In March, UBS rolled out a recruiting package<\/a> valued at 550% of a candidates\u2019 trailing 12-month revenues. The deal targets advisors who have generated around $7 million or more in annual revenue and carries a 16-year commitment.<\/p>\n