UBS Recruits 3 Teams | $2.65B Assets Added

UBS Expands Wealth Management Ranks With Major Acquisitions

UBS Wealth Management USA finalized the recruitment of three financial advisory teams managing a combined $2.65 billion in client assets. The move comes as firms scramble to secure high-producing talent before the Labor Day holiday. These teams transition to the firm from rival wirehouses Morgan Stanley and Merrill Lynch, marking a significant win for the Swiss-owned bank's domestic operations.

The largest of these moves involves the Mason Cisney Alcon Wealth Management Group. Based in Pueblo, Colorado, this practice oversaw $1.4 billion in client assets and produced $3.5 million in annual revenue. The team consists of advisors Caitlin E. Alcon, Calvin B. Mason, and Craig E. Cisney. They have joined the Mountain West Market under the leadership of Market Executive Mitch Markley and will work under the supervision of Market Director Justin French. The group brings a strong footprint to a key geographic territory for the firm.

Alcon carries two decades of industry experience. She spent time at UBS early in her career before a lengthy stint at RBC Wealth Management, eventually moving to Morgan Stanley in 2022. Her partners are long-tenured veterans. Mason brings 34 years of experience to the firm, having spent the last thirteen years at Morgan Stanley following a career at Wells Fargo. Cisney began his career at Morgan Stanley in 2013 and has remained there until this transition.

Bethesda and Bellevue Additions Further Hiring Push

UBS also secured a team of three veteran advisors in Bethesda, Maryland. This group managed $750 million at Morgan Stanley and generated roughly $4 million in annual revenue. The team includes Richard E. Horn, his son Gerald, and Jeffrey M. Deckelbaum. Richard Horn is a legacy advisor who joined the industry in 1988 with E.F. Hutton. Deckelbaum started his career at Smith Barney in 2007, while the younger Horn entered the industry in 2018. They have joined the South Atlantic Market, reporting to Jake Shine.

In the Pacific Northwest, John R. Hall moved his practice from Merrill Lynch to the UBS office in Bellevue, Washington. Hall managed $500 million in assets according to recent industry rankings. He joined the firm with colleague Aaron Marshall and client associate Jennifer Teddy. Hall has 18 years of experience, including a previous stint at Morgan Stanley prior to his decade-long tenure at Merrill Lynch. This team will operate under the direction of Pacific Northwest Market leader Rob Giordano.

Strategy and Industry Context Behind the Moves

The recent recruiting surge reflects a broader effort by UBS to capture talent after a challenging period. The firm previously experienced 19 months of advisor defections following structural management changes and compensation adjustments. Executives aim to reverse this trend. The hiring of former Morgan Stanley recruiting chief Ben Firestein signaled a pivot in the firm's strategy. Leadership also promoted Lisa Golia to head of the field as part of an effort to stabilize the management ranks.

Financial incentives remain a core component of this strategy. Earlier this year, UBS introduced a compensation package offering 550% of trailing-12-month production for advisors generating at least $7 million in revenue. The firm is banking on these aggressive offers to retain current staff and attract new high-producing teams. Just last week, UBS added a $1.4-billion team from AllianceBernstein in Los Angeles, showing the firm's appetite for assets remains high. The results of these recruiting efforts will determine whether the bank succeeds in stabilizing its headcount through the remainder of the 2026 fiscal year.