BY COMFORT OGBONNA
UBS expects additional client outflows in its U.S. wealth management division during the first half of 2026 as advisors leaving the firm take clients with them, the bank’s chief financial officer, Todd Tuckner, said on Wednesday.
Speaking on a call with analysts, Tuckner acknowledged that UBS was dissatisfied with the “net movement” of U.S. wealth advisors. He explained that there is often a lag between advisors’ departures and the resulting impact on assets under management, which is why the bank anticipates “further net new money (NNM) headwinds” in the early part of next year.
Despite the anticipated challenges in the first half of 2026, UBS expects overall net new money for the full year to remain positive, signaling confidence in its broader wealth management business and ongoing client inflows in other areas. The outlook highlights the bank’s effort to manage the effects of staff turnover while maintaining growth in its global wealth operations.
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