Our High Net Worth Opportunity

In this conversation, Bill Carroll, Head of HNW Strategy, discusses why the $1M–$10M segment has become a compelling growth story at UBS and how our dedicated HNW Strategy team is helping Financial Advisors seize the opportunity.

Q: There’s a perception in the market that UBS is “UHNW only.” How are we changing that narrative for Financial Advisors looking for their next home?

Bill: We are currently focusing on providing the tools, platforms, and resources to enable success for the High Net Worth (HNW) investor, which we define as $1 million to $10 million in assets. We’ve had tremendous success building our Ultra High Net Worth (UHNW) capabilities, and we’re combining those learnings with what we are hearing from our Financial Advisors, who are closest to the client, as well as our Field Leaders and, most importantly, our clients. Those insights guide our strategy for building leading capabilities to better serve clients with $1 million to $10 million in assets.

Q: What is our HNW Strategy, and why does it matter to an Advisor’s day-to-day?

Bill: Our HNW strategy at UBS is to combine the industry’s best Financial Advisors with the strength of our global capabilities to provide HNW clients with an industry-leading experience.

Based on our Financial Advisors’ feedback, we are tailoring our strategy to position them to best serve the needs of their clients. We believe that access to financial planning and state-of-the-art online capabilities through our website and mobile app, combined with invaluable advice and a personal relationship with a Financial Advisor, creates a winning formula.

We are also focused on recognizing and rewarding the Financial Advisors who advise and serve clients with $1 million to $10 million in assets. Through additional training and development, the implementation of AI, and recognition of our top performers, we believe we’re creating the industry’s best environment for these Financial Advisors.

Our true advantage is the combination of dedicated Financial Advisors and industry-leading capabilities, and we want to make sure we deliver the resources needed to meet each client’s unique needs.

Q: You’ve been very vocal about the “Great Wealth Transfer.” How does this strategy position our Advisors to capture that?

Bill: Everyone talks about the Great Wealth Transfer of $100T+ in assets being passed down in the next 20-25 years, but one thing to note is that, in many cases, this wealth will be passed from UHNW households to HNW and Affluent beneficiaries.

A UHNW client might pass wealth to a charity, a foundation, or an endowment, and eventually leave sub-$10 million inheritances to several family members. It’s a perfect example of how a UHNW client today can lead to several HNW relationships in the future. To be a premier provider in the UHNW space, we need to position ourselves with the necessary resources to serve the inheritors of that wealth.

UBS’s 160+ year legacy of providing advice to individuals, combined with industry-leading Financial Advisors, positions us to help every client across the wealth spectrum.

Q: You’ve been leading a roadshow to bring this strategy directly to the branches. What are you hearing from the field?

Bill: The first thing we set out to do when we were developing our HNW strategy was, of course, to talk to Financial Advisors, Field Leaders, and clients. They continually told us that although they love the events that UBS traditionally supports, such as Art Basel, Formula One, and the World Cup, our ability to scale those experiences to a large number of clients is challenging.

We’ve received consistent feedback from HNW clients and the Advisors who serve them that they prefer local events on topics like Medicare, Social Security, how to pass wealth to the next generation, and philanthropic planning. We’ve scheduled several in-market seminars across the US in collaboration with our external Asset Management partners and their intellectual capital to bring best-in-class events to cities throughout the country.

Q: What is the bottom line for an Advisor considering a move to UBS right now?

Bill: Just like the issues of wealth have become more complex, so has the role of the Financial Advisor in today’s landscape. Previously, an FA would choose between working at the four major wealth management firms or consider the risk of being independent. Today, based on advancements in technology, the injection of private equity capital into the wealth management space, and banks entering the wealth management business, there are many choices for FAs on what model they prefer for their business.

In my conversations with UBS Financial Advisors and Financial Advisors at the competition, I emphasize that UBS provides the best of all those choices in one firm. UBS is small enough to be nimble and large enough to be as relevant as any wealth management firm in the world. We have a 160+ year legacy of wealth management serving clients, a leading global platform, and one of the strongest capital positions.

Many of the industry's most accomplished Financial Advisors are currently at UBS. If you want to be among many of the best Financial Advisors, peer share with them, learn from them, and partner with them, then you belong at UBS.