A father and his son are among four new financial advisers with a combined $363 million of client assets who have recently joined UBS Wealth Management Americas, a UBS spokesperson confirmed to Registered Rep.
The family pair, Martin McLaughlin Sr., a 35-year industry veteran, and Martin McLaughlin Jr., who has 23 years of experience, joined UBS in Westport from Wells Fargo Advisors and will report to Judson Potter. McLaughlin Sr. had spent 18 years and his son 11 years at A.G. Edwards before it was acquired by Wachovia Securities three years ago. Twelve months later, Wells Fargo purchased Wachovia.
UBS also nabbed John Walsh and Kenneth White, who join the firm’s Albany office from Morgan Stanley Smith Barney. They each have three decades of industry experience, and spent 17 years at Smith Barney. The pair will report to UBS branch manager Robert Lane.
The UBS spokesperson noted that the McLaughlins generated $1.5 million in annual fees and commissions on $180 million in assets under management at Wells Fargo Advisors. Walsh and White managed $183 million in client assets and generated fees and commissions of $1 million at Smith Barney, she noted.
The latest hires by UBS Wealth Management Americas, the brokerage unit of Swiss banking giant UBS AG, reflect its goal of attracting business from the ultra rich in mostly major metropolitan markets in the United States.
