UBS advisors, who oversaw $125 million in client assets, have left the wirehouse to launch a practice with HighTower, says the firm's spokewoman.
Chris Ure and Al Martinez joined HighTower as managing directors in Boca Raton, Fla. The team is High Tower's third this year and second in Florida, according to the firm.
“We selected HighTower for their commitment to growth, dedication to clients, and for the opportunity to leverage their unmatched expertise and resources on behalf of our business and our clients," Ure said in a statement.
Ure started his career at UBS in Citigroup in 1998 before moving to UBS in 2009, according to FINRA BrokerCheck records.
Martinez had started his career in 1992 at Tucker Anthony, according to FINRA BrokerCheck records. He also worked at Merrill Lynch and Citigroup before joining UBS.
“The HighTower platform fuels rapid growth and enhances operational efficiency for independent advisors, who might otherwise have to spend 20 to 30% of their time on the day-to-day management of their businesses,” said Michael Parker, HighTower's chief development officer in a press release.“Teams that join HighTower can focus on serving their clients and building their businesses in the company of other elite financial advisors.”
UBS declined to comment on the move.