UBS Adds $1.4B Team From Bernstein
UBS has added four financial advisors to its Los Angeles private wealth management office from Bernstein Private Wealth Management. The team, which has over $1.4 billion in assets under management and $11.5 million in production, will operate as Lumina Wealth Partners at UBS.
Advisors Pasha Azad, Dayne Crist, Steven Summerhays and Koby Dardashti join UBS with a focus on entrepreneurs, founders, business owners, executives, artists, entertainers, professional athletes and multigenerational families. The team specializes in business sales and other liquidity events, investment strategy, philanthropy and generational wealth transfer.
The advisors are joined by Ryan Siroky and Lexie Kamran, senior wealth strategy associates; Alex Day, senior registered client associate; and Nick Horn, registered client associate.
The team will operate out of UBS’s new Los Angeles office in Century City, which has more than 225 employees across UBS Private Wealth Management, Wealth Management and the investment bank.
Azad was with Bernstein for 15 years before making the move, while Crist had been there for the last 11 years. Summerhays joined Bernstein seven years ago, while Dardashi joined five years ago.
This follows news in July that UBS added a Tampa, Fla.-based team managing about $1.3 billion in client assets from Bank of America Private Bank.
The advisors, including Jesse Flatt, Lea Ann Drew, Brandon Burns and Carlos Rodriguez, will join UBS’s Greater Florida/Gulf Coast Market under the supervision of Tampa Bay Senior Market Director Jack Heiss.
Separately, UBS also appointed two new leaders in the South wealth management market, which includes Georgia, Tennessee and Arkansas. John Houlihan, who was previously market director for the Northeast region, will now serve as market executive for the South market for the firm’s private wealth and wealth management businesses.
Ian Roth has been appointed senior market director, reporting to Houlihan. Roth, who joins from Goldman Sachs, will oversee the private wealth business in the South market, a newly created role.
Earlier this year, UBS CEO Sergio Ermotti said the bank is identifying candidates to replace him, as he hopes to step down by spring 2027 at the latest. (In a January interview, Ermotti expressed a preference for an internal successor.)
The potential internal successor candidates include Chief Operating Officer Beatriz Martin, Aleksandar Ivanovic, who leads the firm’s asset management business, and wealth management co-leaders Iqbal Khan and Ribert Karofsky.
During a conference in May, Ermotti also floated the possibility of acquisitions by the firm’s American business as another option to boost growth. Earlier this year, the bank’s Americas business hit client inflows of $5.3 billion for the first three months of the year, after three straight quarters of outflows.
