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UBS will be best wire on street if Mccann pulls this off

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Apr 30, 2010 8:15 pm

Eveything is being improved in tech. New pc’s this summer. CMS software will be best in the industry (the best of ACT, Goldmine, and Salesforce). We’re going to the latest version of Thomson 1 after being the last firm out there still using the old Reuters system. New bond trading software. All this coming immediately after the new pc’s.

We already have the best financial planning software, but even that is being continuously improved. This new team gets it, and I’m happy to say I stuck it out through the bad times in order to finally see it. It’s been a long time coming.

Lew

May 1, 2010 12:48 am

Technology isn't the issue. An horrific balance sheet is. A destroyed reputation is. Technology cannot fix a balance sheet problem, nor can it fix reputations lost due to criminal behavior. Plus the Swiss and the asians haven't gone away. 

May 1, 2010 6:08 am

Borei, you’re correct saying that technology can’t fix the reputational damage that our IB did to us. Technology does, however, make my life (and my staff’s lives) much easier. I’ve been waiting for these enhancements for years.

It’s going to take years of hard work to repair UBS’s reputation, and I’ll be here to do it. My business hasn’t suffered due to the damage, but I know others who have taken a hit. My assertion is just that we have a management team in place that is prepared to work with us to improve this firm going forward. They get it, and that makes me happier than ever to be at UBS.

Lew

May 1, 2010 1:03 pm

"Borei, you're correct saying that technology can't fix the reputational damage that our IB did to us"

I know. More than the IB, also the Swiss and their criminal antics and the idiotic American mismanagement team/matrix cr*p.

" My assertion is just that we have a management team in place that is prepared to work with us to improve this firm going forward. "

That "management team" destroyed the once independent Merril Lynch. They are conmen and you are willingly being led to the koolaid. Sad.

May 1, 2010 4:56 pm

McCann and his team didn’t ruin ML. The wealth management division was doing just fine until their IB forced a shotgun marriage with B of A. And so what if I’m delusional with a koolaid stain on my upper lip. I’m happy with what’s going on, my business is growing faster than ever, and I got to sleep in this morning. Life is great!

May 2, 2010 1:08 am

"And so what if I'm delusional with a koolaid stain on my upper lip."

You are. The balance sheet issue  hasn't changed. The femoral artery is cut. Enjoy the koolaid and enjoy have "Jim Jones" as your guide. 

May 2, 2010 5:12 am

You’re just wrong. The balance sheet has been cleaned up. And if it wasn’t , and they are forced to spin us off, that’s a consequence I’m fine with. Either way, UBS’s balance sheet issues have nothing to do with my wealth management practice. If it didn’t affect my business in 08, it won’t going forward.

Lew

May 2, 2010 6:55 am

" The balance sheet has been cleaned up."

ROTFLMAO! 

Do avoid giving people advice on stocks, at least until you can read a financial statement.

http://www.reuters.com/finance/stocks/financialHighlights?symbol=UBSN.VX

 

FINANCIAL STRENGTH   Company Industry Sector S&P 500 LT Debt to Equity (MRQ) 479.15 323.17 105.88 142.80 Total Debt to Equity (MRQ) 635.62 395.79 291.35 204.59
May 3, 2010 4:02 pm

What planning software is UBS  using that is so great?  

May 3, 2010 6:23 pm

We’re using software we call Financial Goal Analysis, but I believe it’s based on software called Money Pro. I’m not really sure about the name. I just know it’s very powerful. FA’s from other firms have consistently confirmed that it’s much better than what they were using before. I can confirm that it is extermely robust and powerful, and can model anything I ask it to.

Borei, you seem to be confusing a great stock to buy with a great firm to work for. Either way, UBS’s US Wealth Management is headed in the right direction. It’s undeniable.

Lew

May 3, 2010 7:04 pm

If it is money pro it is not what I would call the best on the street.

I used it for several years before I switched.

May 4, 2010 2:49 am

It is called MoneyGuidePro, it is good stuff. Sadly it is hitched to a boatload of debt, a collapsing workforce and a snake oil salesman from the failed Merril Lynch. All attached to the criminal Swiss banking machine. 

May 4, 2010 12:20 pm

UBS said today that net client withdrawals from its wealth management units amounted to 15.4 billion francs in the first quarter, down from 45.2 billion francs in the fourth. Asset management had net outflows of 2.6 billion francs in the first quarter, it said. UBS is suffering outflows after departures of client advisers, credit-crisis losses and the U.S. investigation into tax evasion by some American customers.

May 4, 2010 6:44 pm

Not to jump on a bandwagon here, but you FA's have to admit-- a firm with kick ass technology (along with a good comp package ) is a hard place to leave.  Or better phrased, if you're faced with the opportunity to work for one of two firms, both even in most areas on your checklist, will the firm with the better technology attract you over the other?

May 5, 2010 12:31 am

UBS has a mediocre comp package, they are replacing 6+ year old garbage tech with average industry standard tech and a large glass of koolaid to hide their broken business model, diseased balance sheet and awful management structure.

May 5, 2010 4:49 am

Borei, dude, you’re a downer. I bet you’re a big hit at a party. Ever had a girlfriend? UBS fired you last year, didn’t they?

May 6, 2010 12:40 am

Lew, I am married for longer than most brokers have been alive, resigned last year and am having my best year ever.

Now for you, can you read a financial statement? 

May 6, 2010 4:14 am

Other than the fact that I have some stock options, explain to me how UBS’s balance sheet is relevant to my success in my business. BTW, latest Tier 1 is 16, and our credit default swaps trade at industry lows. Real numbers, not subjective hyperbole. And also, based on the “high” level of comments on you assertions, it appears that you might just be the only one that shares your opinion in this forum. And, we also had a dinosaur in our office that “resigned” last year. I’m done. Over and out.

Lew

May 6, 2010 4:40 am

..." explain to me how UBS's balance sheet is relevant to my success in my business. ".

And people trust you with money. LOL!

May 6, 2010 1:52 pm

Lew

Nothing ever changes from  Nicholson/Grano/Hoekstra/McMann and all in between who have been long forgotten.

Focus on FA, new technology, high net worth blah, blah, blah.

McCann will be here and gone and the new man will be the man.

The question remains the same.  "Where are the customer's yachts?