$2 Billion Advisor Team Joins UBS in Newport Beach, California

Rhea-AI Summary

UBS Wealth Management USA has welcomed a seven-person team managing $2 billion in client assets in Newport Beach, California. The team, led by Financial Advisors Tom Nieto and Fred Grand Jr., specializes in high-net-worth individuals, families, entrepreneurs, and institutions. This addition is expected to enhance UBS's ability to guide clients in growing their wealth across generations. UBS's global wealth management services offer integrated solutions, ensuring clients receive comprehensive financial advice and solutions tailored to their needs.

Positive

• Addition of a team managing $2 billion in client assets enhances UBS's service capacity in high-net-worth sectors.
• Experienced team members bring extensive backgrounds from prestigious financial institutions, potentially improving client trust and service quality.

Negative

• None.

UBS Wealth Management USA announced today that a seven-person team managing $2 billion in client assets has joined the firm in Newport Beach, California. The team, led by Financial Advisors Thomas (“Tom”) J. Nieto and Frederick (“Fred”) D. Grand Jr., have built a successful business focused on high-net-worth individuals and families, entrepreneurs, and institutions.

The team also includes John Hurford, CFA®, Senior Wealth Strategy Associate Rebecca Zahabian, Team Administrator Laura Holland, Senior Client Service Associate David Q. Kuang, CFP® and Registered Client Service Associate Victor Morales.

“We’re excited to welcome Tom, Fred and their team to UBS,” said Justin Frame, Los Angeles & Orange County Market Head at UBS Wealth Management USA. “The scale and caliber of this team is nothing short of impressive, and we’re looking forward to working with them to help our clients grow multi-generational wealth and build a meaningful legacy.”

Tom served as a Private Client Advisor at Bank of America’s Private Bank (formerly U.S. Trust) for 25 years before joining UBS, helping clients to identify and achieve their wealth goals. He is a former board member of the Blue Ribbon Committee at California State University at Fullerton, a former committee member of the Orange County Performing Arts Business Partnership and a former executive board member of the United Way of Orange County. Tom earned a B.A. in Political Science from California State Polytechnic University at Pomona.

Prior to joining UBS, Fred served as a Private Client Advisor at Bank of America’s Private Bank, and a Global Commercial Banker for Bank of America Merrill Lynch. On the team he is responsible for providing clients with customized wealth strategies and planning services. Fred earned his B.A. and M.B.A. in Accountancy and Financial Planning from The University of San Diego, where he graduated with honors. He continues to serve at his alma mater as a top-ranked adjunct professor, teaching finance and accounting.

John previously served as a Senior Portfolio Manager at Bank of America’s Private Bank. He focused on providing guidance to clients in asset allocation and risk-based strategies. Before moving to Orange County, John was actively involved with City Hope in San Francisco, an organization that provides a safe space for marginalized residents in the city’s Tenderloin neighborhood. He earned an M.B.A. in Financial Engineering from UC Berkeley’s Haas School of Business and a B.A. from The University of San Diego.

Notes to Editors

About UBS Global Wealth Management

As the world's largest wealth manager, UBS Global Wealth Management provides comprehensive advice, solutions and services to wealthy families and individuals around the world. Clients who work with UBS benefit from a fully integrated set of wealth management capabilities and expertise, including wealth planning, investment management, capital markets, banking, lending and institutional and corporate financial advice.

About UBS

UBS provides financial advice and solutions to wealthy, institutional and corporate clients worldwide, as well as private clients in Switzerland. UBS's strategy is centered on our leading global wealth management business and our premier universal bank in Switzerland, enhanced by Asset Management and the Investment Bank. The bank focuses on businesses that have a strong competitive position in their targeted markets, are capital efficient, and have an attractive long-term structural growth or profitability outlook.

UBS is present in all major financial centers worldwide. It has offices in more than 50 regions and locations, with about 30% of its employees working in the Americas, 31% in Switzerland, 19% in the rest of Europe, the Middle East and Africa and 20% in Asia Pacific. UBS Group AG employs over 68,000 people around the world. Its shares are listed on the SIX Swiss Exchange and the New York Stock Exchange (NYSE).

© UBS 2021. All rights reserved. The key symbol and UBS are among the registered and unregistered trademarks of UBS.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210504005981/en/

FAQ

What is the recent announcement by UBS regarding its Wealth Management team?

UBS Wealth Management USA announced the addition of a seven-person team managing $2 billion in client assets, enhancing its service in Newport Beach, California.

Who are the leaders of the newly joined team at UBS?

The team is led by Financial Advisors Tom Nieto and Fred Grand Jr.

How does the new team at UBS impact client services?

The new team focuses on high-net-worth individuals and families, which is expected to improve UBS's ability to provide tailored wealth management solutions.

What is the significance of the $2 billion in assets managed by the new team at UBS?

The $2 billion in client assets signifies a substantial addition to UBS's resources, potentially leading to increased revenue and enhanced service capacity.

Where is the new UBS team located?

The new UBS Wealth Management team is located in Newport Beach, California.

What background do the advisors in the new UBS team have?

The advisors come from extensive backgrounds in wealth management at firms like Bank of America, with experience in providing customized wealth strategies.