UBS Group Stock Price, News & Analysis

UBS Private Wealth Management has announced that three advisors from its Northeast market have been recognized in the Forbes/SHOOK Research Top Women Wealth Advisors list for 2022. The advisors, Andrea Bevis, Susan Bordash, and Teresa Jacobsen, are celebrated for their exceptional service and expertise. Collectively, the Top Women Wealth Advisors list includes 1,377 advisors managing $1.9 trillion in assets. This recognition highlights UBS's commitment to excellence in wealth management.

UBS Private Wealth Management has announced that David Schachter, a Financial Advisor in Los Angeles, has earned the Athletes and Entertainers Consultant (AEC) designation. Schachter, a recognized wealth advisor, leads the Endurance Artist Management team at UBS, providing tailored financial insights for sports and entertainment clients. This designation reflects his expertise in navigating the unique financial challenges faced by high-profile individuals. The AEC segment was launched in 2019 to enhance advisory services in this specialized market.

UBS reported strong financial results for FY21, achieving a profit before tax (PBT) of USD 9,484m, up 16% YoY. The firm demonstrated significant growth with USD 107bn in net new fee-generating assets and USD 28bn in net new lending. However, litigation provisions of USD 740m for a French matter impacted expenses, raising the cost/income ratio to 73.6%. Notably, UBS plans to repurchase up to USD 5bn of shares in 2022 and proposes a dividend of USD 0.50 per share. Despite challenges, UBS aims for sustainable growth with tech investments and expanding client segments.

UBS has announced its acquisition of Wealthfront, a cutting-edge digital wealth management platform, for $1.4 billion. This strategic move aims to enhance UBS’s presence among affluent US investors and broaden its wealth management capabilities. Wealthfront manages over $27 billion for 470,000 clients, focusing primarily on millennial and Gen Z investors. The transaction is expected to close in the second half of 2022, subject to regulatory approvals, allowing Wealthfront to operate as a wholly owned subsidiary of UBS.

UBS has launched the Multicultural Investors Strategic Client Segment to cater to US investors from Asian-American, Black, and Hispanic and Latino backgrounds with investable assets of USD 1 million and above. Led by Melinda Hightower, this initiative aims to provide tailored wealth management insights and inclusive investment solutions. UBS recognizes that multicultural investors have unique needs and priorities, seeking to bridge the trust gap in financial services. This segment adds to UBS's existing suite of specialized services, enhancing their commitment to diversity and inclusion.

UBS and Hello Alice have increased the number of grants to 40 female founders of color as part of Project Entrepreneur, responding to 12,000 applicants. Each grantee receives $25,000, totaling $1 million in funding to support high-growth companies. The initiative seeks to bridge the equity gap that these entrepreneurs face in accessing capital. Recipients will also benefit from coaching and resources, enhancing their chances for success. This effort underscores the pressing need for equitable funding access for women of color in business.

UBS Wealth Management USA has welcomed Diane Johnston, a Financial Advisor with over 20 years of experience, to its Jericho, New York branch. Her expertise focuses on business owners, entrepreneurs, ERISA plans, endowments, and foundations. Amanda Librizzi, the branch manager, expressed enthusiasm regarding Diane's addition, highlighting her dedication to clients and potential to enhance client services in Long Island. Johnston is also engaged in community support, serving as the President of the Long Island Chapter for the Exit Planning Exchange and working against human trafficking with UNITAS.

UBS Wealth Management USA has welcomed Financial Advisor and Portfolio Manager, Brett C. Moore, to its team in Beverly Hills, California. With over 22 years of industry experience, Brett previously served as a Portfolio Management Director at Morgan Stanley. His expertise spans portfolio management, private equity, and private credit, with a focus on wealth planning and risk mitigation. Holding degrees from Tulane University and a Personal Financial Planning Certificate from the University of California, Brett is committed to client success and community engagement.

UBS Wealth Management USA has welcomed Financial Advisor Debbie Chen to its Pasadena, California office. With over 20 years of experience, Chen specializes in serving ultra-high net worth clients in the US and Asia, particularly in China, Taiwan, and Hong Kong. Prior to joining UBS, she spent 11 years at HSBC, providing comprehensive banking and investment services. Chen's expertise will enhance UBS's capabilities in wealth management, aligning with their goal of deepening their international presence in the LA market.