Finance
UBS sees more outflows from US wealth unit after adviser exits, CFO says
Published by Global Banking & Finance Review®
Posted on February 4, 2026
1 min readLast updated: February 4, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on February 4, 2026
1 min readLast updated: February 4, 2026
UBS anticipates further outflows in its U.S. wealth management unit due to advisor exits, impacting net new money in 2026.
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.
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.
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)
Wealth management is a comprehensive service that combines financial planning, investment management, and other financial services to help clients manage and grow their wealth.
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.
Assets under management (AUM) is the total market value of investments that a financial institution manages on behalf of clients.
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