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Wire Wars: Wells Nabs $7-Million Team Led by 30-Year UBS Vet in Newport Beach

Advisor Hub

July 28, 2021
By Jake Martin

Wells Fargo Advisors on Wednesday pulled from UBS Wealth Management USA a 10-person team that had been generating $7 million in annual revenue at the wirehouse, a spokeswoman for Wells confirmed.

The group, which is keeping their moniker OnPointe Wealth, is led by Lawrence E. “Larry” Smith, who had been with UBS since 1990. They joined Wells’ Private Client Group office in Newport Beach, California from a UBS branch in Brea, according to their BrokerCheck records, which did not yet reflect their transition as of Wednesday afternoon.

Smith, a managing director, is joined by three additional advisors–senior vice president C. Scott Sutcliff, and vice presidents Linda Lyons and Alexandra “Alex” Nichols–and six support staffers. They had jointly managed $800 million in client assets at their former firm, according to the Wells spokeswoman.

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This post first appeared on Perspectives For Financial Advisors From Diamond Consultants, please read the originial post: here

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Wire Wars: Wells Nabs $7-Million Team Led by 30-Year UBS Vet in Newport Beach

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