Merrill's Recruitment Deal Attracting UBS Advisors

or Register to post new content in the forum



  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Aug 31, 2009 5:45 pm

Merrill’s Recruitment Deal Attracting UBS Advisors

Merrill Lynch’s new recruiting deal, which rewards advisors who are able to grow their business over the next five years, appears to be creating a stir over at UBS. Merrill has recently hired three million dollar-plus teams from the Swiss-based firm.

UBS is the only major wirehouse whose top advisors aren’t locked into retention packages. That, combined with disillusionment at the raft of negative headlines surrounding the UBS tax evasion case, makes UBS advisors prime targets, says Houston-based recruiter Rick Peterson.

Aug 31, 2009 6:51 pm

"says Houston based recruiter Rick Peterson"

I wonder what firm Rick Recruits for…

It always cracks me up to see these “industry experts” quoted without any mention of how biased they are due to locked in recruiting agreements.

Mindy Diamond is best, she only recruits for Morgan so any time she is quoted you know which firm will be the best

Aug 31, 2009 10:00 pm

Rick Petersons job is to create dissatisfaction so FA’s wll listen to him, or, better yet reach out to him to negotiate a deal. UBS is easy pickings, because of all the press. A year ago it was some other companies. When considering a move, do what is best for the client and your style of business. Then look at the local management and the people you will office with, then the deal.

  Merrill would fall way short if you follow this methodology.
Aug 31, 2009 10:37 pm

So, they recruited a bunch of 300m-500m producers, one of which has been in the business 30 years.  This doesn’t sound like some great get to me.  I want to see a follow-up in five years to know how many people met the goal of increasing their book by 50%.  These guys might be lucky to get back to their original production numbers by then.