UBS Cuts Operation Staff

Posted on August 27th, 2014 at 3:37 PM

From the Desk of Jim Eccleston at Eccleston Law Offices:

UBS Wealth Management Americas has cut operations staff in an effort to reduce expenses. The firm has around 3,800 sales associates, who work to process orders and address client issues for the firm's roughly 7,100 advisers.

This UBS move is aimed to levy more sales and operational costs on its brokers, which mirrors similar efforts at Morgan Stanley, where the firm has been looking to centralize its back office operations. Next year, a portion of Morgan Stanley's roughly 16,300 advisers are set to pay additional costs, including a $1,000 monthly fee, for extra support staff beyond what the branch provides. Previously, those fees, which go toward items such as technology costs, insurance and retirement contributions, were paid by the firm.

The attorneys of Eccleston Law Offices represent investors and advisers nationwide in securities and employment matters. Our attorneys draw on a combined experience of nearly 50 years in delivering the highest quality legal services.

Related Attorneys: James J. Eccleston


Return to Archive



Jim, Stephany and the whole team were a God send.  We felt like we were put into a situation where we had no advocate. Jim’s team came in with a strong, well laid out strategy on how to get our story heard. Where our outside compliance company had no ability to help, our Broker Dealer was impenitent, and the regulators were aggressive pursuing vague rules, Jim came like a barricade against an assault we did not understand. Though you pay member dues to be affiliated with FINRA and a B/D, you have no voice. The only thing that is truly heard in this un-level playing field is a bulldog’s bark like Jim’s. I would encourage anyone to call Jim and his team to find a real ally in the tough and complicated world of securities regulation. They are truly the best.

Greg P.


October 20, 2021
5 First-of-Their-Kind SEC Enforcement Actions Announced

Securities and Exchange Commission (SEC) Enforcement Director Gurbir Grewal recently discussed notable first-of-their-kind enforcement actions that his division has pursued.

October 19, 2021
FINRA Targets SPACs in Most Recent Exam Sweep

The Financial Industry Regulatory Authority (FINRA) has begun an examination sweep of advisors’ involvement with special purpose acquisition companies (SPACs).

October 18, 2021
SEC’s Statement on Complex Exchange-Traded Products

The Securities and Exchange Commission (SEC) recently voted to approve a pair of rule changes proposed by Cboe BZX Exchange, Inc. to list and trade shares of new exchange traded-products: the 2x Long VIX Futures ETC and the -1x Short VIX Futures ETF.