1. UBS Forming Business to Service Independent Advisors

    UBS Forming Business to Service Independent Advisors

    UBS is setting up a business to sell products and services through independent advisors in the U.S., the second big traditional brokerage firm to see opportunity—or at least expedience—in servicing the burgeoning independent channel.

    Joseph P. Connellan, a managing director who joined the Swiss banking giant’s wealth arm last month after 31 years at Citigroup, is listed as head of Wealth Management USA Independent Advisor Channel in a firm directory, according to UBS sources.

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  2. Quotes

    1. What they are really doing is addressing a threat to their core channel of brokerage and product distribution by recognizing that there's this whole growing segment.
    2. Scale on the advisory platform is the biggest thing right now.
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