although ubs financial services has rolled out an enhanced training program to help offset declining salesforce numbers, the broker-dealer of the swiss banking giant is about to cut the lucrative payout rate that it had been offering its “new financial advisors,” according to a filing with the securities and exchange commission. the change appears aimed at inducing brokers—from trainees to the most experienced—to join teams rather than going it alone, a growing goal of many large retail brokerage firms. that promotes asset collection and also makes it harder for individuals working on only a portion of a customer’s business to jump to another firm. the decision to lower the pay incentive for trainees follows ubs’s recent combination of its formerly autonomous americas wealth business with its global wealth division in a move to increase efficiency and lower costs.
a ubs spokesman declined to comment on the payout change for trainees, the philosophy behind the move and the number of participants on teams. the payout change for trainees is even more dramatic when set against the sky-high 50% rate that ubs offered to rookies in may 2016 on fees collected from fee-based accounts. it cut that premier rate to 45% on january 1 2017. in addition to sales-based compensation, ubs and most of its rivals also offer a guaranteed salary and production-related bonuses to trainees. they get paid to disguise sales pitches as advise, and the better they are at it the better they get paid! this article is discussing a new training program at ubs and new role, the wealth manager development program, which his different than the new financial advisor program.
how much do ubs financial advisor trainee jobs pay a year? the average annual pay for an ubs financial advisor average ubs financial advisor yearly pay in the united states is approximately $81,675, which is 27% above the national average. in addition to rigorous proprietary training, you will also pursue and obtain the accredited wealth management advisor, ubs training financial advisor program, ubs training financial advisor program, training financial advisor ubs, ubs careers, ubs financial advisor salary. the typical ubs financial advisor trainee salary is $51,972. financial advisor trainee salaries at ubs can range from $9,912 – $64,881. this estimate is based upon 7 ubs financial advisor trainee salary report(s) provided by employees or estimated based upon statistical methods.
although ubs financial services has rolled out an had been offering its “new financial advisors,” according to a as of june 1, brokers entering the firm’s four- year training the apparent paradox of cutting pay in a crucial how much does a financial advisor make? financial advisors made a median salary of $88,890 in 2018. the best-paid the average salary for a financial advisor at ubs is $61042. visit payscale to research financial, ubs wealth management analyst salary, ubs wealth advice center
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