UBS loses 34 advisors in early October; two executives will join &Partners

UBS lost 34 advisors from two teams in early October, and two of its executives will join &Partners as equity partners once their notice periods at the firm end.

Frost Investment Services recruited the larger team, 27 advisors, on Oct. 2, according to our records.

The Cullman/Holt Group, seven advisors led by Jeff Cullman and W. Bruce Holt, moved from UBS to Wells Fargo Advisors Financial Network with $1.3 billion in assets.

Our 30-day tracking through Oct. 12 put UBS first among firms in advisor departures, and UBS appeared most often in those records, at 87, ahead of LPL Financial's 82.

Mara Glassel and Julie Fox will join &Partners as equity partners, sharing responsibility for the hybrid RIA's ultra-high-net-worth and private wealth businesses after they finish their notice periods at UBS.

Diamond Consultants' first-half transition report counted 1,449 experienced-advisor departures against 932 recruits across the four wirehouses, with UBS among the net losers.

That report puts recruiting packages for employee-model firms at as much as 425% of revenue. Its figures cover the first half of 2026; the October moves come from our own records.

Separately, Naureen Hassan joined UBS from Charles Schwab in early October, according to our records, which identify the move but not the role she took at UBS.