UBS Wealth Management Americas is launching a new program to help financial advisors who want to leave the business find new homes for their high-net-worth (HNW) clients.
The new program, called Aspiring Legacy Financial Advisor (ALFA), is for advisors serving at the firm for a minimum of five years, according to wealthmanagement.com.
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
The program will enable advisors to move their clients to another UBS advisor, usually the same person named in the retiring advisor’s succession plan, irrespective of their age.
The factors determining payout calculation are the length of the retiring advisors’ time at UBS, their total production, their revenue from wealth management services, as well their total team’s production and net new money.
Advisors intending to pull back but remain active will be able to earn extra compensation based on a two-year transition plan, The plan includes growth hurdles of HNW households and net new money.
After an advisor enrolls in the program, the UBS advisor named as the successor will get 100% of the transitioned client assets on the program’s first day as well as will become the broker of record for those accounts, the publication said.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataAt the same time, advisors getting the legacy advisor’s clients will have the facility to earn 5% t growth bonus per year for improving the UHNW and HNW production in the transitioned households for up to five years.
