Michael Bulhack, Mario Ponczek and Douglas Ponczek—the Bulhack-Ponczek Group—join UBS in Aventura, Fla. They previously managed $423 million at Morgan Stanley and had $1.6 million in fees and commissions. They have been registered with UBS since Nov. 2, according to their public registration records with FINRA, and report to Erin Borger.
Both Bulhack and Mario Ponczek came to Morgan Stanley through Citigroup, their registration records show, where they had been employed since 1993. Douglas Ponczek, Mario Ponczek’s son, had been registered with Morgan Stanley since October 2010.
At the same time, Morgan Stanley has hired Chase advisor Bryan Schon in Bloomfield Hills, Mich. Schon previously oversaw $205 million in client assets and had $1.45 million in fees and commissions. He has been registered with the firm since Nov. 1, according to his public registration records. Schon reports to Morgan Stanley Branch Manager William R. Eastin.
Schon’s hire comes as Morgan Stanley also recently lured three new advisors to its force from Wells Fargo and Raymond James.
UBS said in its third quarter earnings last week that its advisor headcount rose by 11 to 7,032 in the third quarter. Morgan Stanley posted a total of 16,829 global representatives in its wealth business in the third quarter, which marked a decline of 105 financial advisors, or six one-tenths of one percent, according to the firm.