Finance
UBS sees more outflows from US wealth unit after adviser exits, CFO says
Published by Global Banking and Finance Review
Posted on February 4, 2026
1 min readLast updated: February 4, 2026
Quick Summary
UBS anticipates further outflows in its U.S. wealth management unit due to advisor exits, impacting net new money in 2026.
UBS Anticipates Continued Outflows from U.S. Wealth Management Unit
UBS Wealth Management Outlook
ZURICH, Feb 4 (Reuters) - UBS expects further outflows in its U.S. wealth management business in the first half of 2026 as advisers leaving the bank take clients with them, chief financial officer Todd Tuckner said on Wednesday.
Impact of Advisor Departures
Tuckner told analysts on a call that UBS was not satisfied with the "net movement" of U.S. wealth advisors, and that a delay between their departure and the impact on assets under management meant UBS expected "further NNM (net new money) headwinds" in 2026.
Future Projections for New Money
However, across the whole of 2026, the bank expects net new money to be positive, Tuckner added.
(Reporting by Tommy Reggiori Wilkes, Editing by Ariane Luthi)
Key Takeaways
- •UBS expects more outflows in U.S. wealth management.
- •Advisor departures are impacting assets under management.
- •Net new money headwinds anticipated in 2026.
- •Positive net new money expected across 2026.
- •UBS is not satisfied with advisor net movement.
Frequently Asked Questions about UBS sees more outflows from US wealth unit after adviser exits, CFO says
1What is wealth management?
Wealth management is a comprehensive service that combines financial planning, investment management, and other financial services to help clients manage and grow their wealth.
2What is net new money?
Net new money (NNM) refers to the total amount of new deposits minus withdrawals in a specific period, indicating the growth or decline of assets under management.
3What are assets under management?
Assets under management (AUM) is the total market value of investments that a financial institution manages on behalf of clients.
