A pair of advisors in San Francisco have broken away from UBS Wealth Management USA to launch an RIA called Beacon Coast Partners, according to an announcement Monday.<\/p>\n
Michael H. Evans and David H. Jasper, who had each spent the last 22 years at UBS, oversaw $3.5 billion in \u201cassets under supervision,\u201d according to the announcement. They left UBS to launch the firm on June 10, according to BrokerCheck, which shows they have registered solely as investment advisors as part of the move.\u00a0<\/p>\n
The team also includes investment strategist Edward Huang and support staff Katherine Piersanti and Marcus Ferriera. Evans, Jasper and Huang, who had been a wealth strategy associate at UBS, are owners of Beacon Coast, which custodies with Fidelity Investments, according to regulatory filings.<\/p>\n
Evans wrote in a LinkedIn post that the move will allow them to \u201coperate with greater flexibility and precision\u2014particularly in how we deliver advice, allocate capital, and help clients navigate complex financial decisions.\u201d<\/p>\n
A spokesperson for UBS declined to comment. A Forbes ranking of the top advisors in California listed the team\u2019s assets under management at $2.6 billion as of June 2025. They had a minimum account size of around $25 million.<\/p>\n
The duo joined UBS in 2003 after six years with Goldman Sachs. Evans started his career at Goldman in 1997, and Jasper spent about two rookie years at UBS\u2019s Credit Suisse predecessor and Morgan Stanley before joining Goldman in 1997, according to BrokerCheck.\u00a0<\/p>\n
The advisors could not immediately be reached for comment.\u00a0<\/p>\n
The departure comes as UBS ratcheted up<\/a> its own recruiting offers and said it expects<\/a> elevated attrition to subside in the second half of this year.\u00a0<\/p>\n In the first quarter of the year, UBS lost a net 50 advisors<\/a> but added about $5.3 billion in net new assets. Other recent departures include a duo<\/a> that was overseeing around $2.4 billion and left after a combined 44 years to launch Evertern Wealth in Naples, Florida. Another team left to join Elevation Point<\/a>, and a third joined Wells Fargo\u2019s independent broker-dealer channel<\/a>.<\/p>\n Separately on Monday, UBS said it hired an advisor from institutional-focused RIA Glenmede Investment Management. Adam M. Cornish, who has been registered as an advisor for 18 years, had been director of endowment and foundation management working with institutional clients as an outsourced chief investment officer, according to an announcement.\u00a0<\/p>\n Philadelphia-based Cornish oversaw around $1.2 billion in assets, according to UBS. He previously worked as an equity trader before joining Glenmede.\u00a0\u00a0<\/p>\n A spokesperson for Glenmede did not immediately respond to a request for comment, and Cornish could not be reached for comment.\u00a0<\/p>\n \u2013Karmen Alexander contributed to this story.\u00a0<\/p>\n