Martin McLaughlin Sr. and Martin McLaughlin Jr. joined the Westport office of UBS Wealth Management Americas.
They came over from Wells Fargo, where they had assets under management of $180 million and generated fees and commissions of $1.5 million. They will report to Judson Potter, a complex director for UBS Wealth.
Meanwhile, John Walsh and Kenneth White joined UBS’ office in Albany, NY. They came from Morgan Stanley Smith Barney and they will report to Robert Lane, branch manager. They had $183 million in assets under management and $1 million in trailing-12 production.
UBS has staked its future on a strategy of serving the very high-end clients and focusing mostly on the large metro areas. It had announced last week that it had recruited two other million-dollar advisor teams from rivals Morgan Stanley Smith Barney and Merrill Lynch.
Raymond Schmidtke joined UBS’s Seattle operation from Morgan Stanley Smith Barney. And Nina Hakim was recruited to the Westfield, NJ operation from Bank of America Merrill Lynch. And last month, UBS snatched up two other advisors from MSSB. Paul Gilman and Marshall Hagen joined the firm’s Wealth Management Americas office in New York City. Together, the pair previously oversaw $296 million in client assets and generated up to $2.6 million in annual fees and commission.