UBS Teams Up with Richard Bernstein Advisors

UBS Wealth Management Americas has struck an agreement with Richard Bernstein Advisors, which it says will enhance its research capabilities.

Richard Bernstein Advisors specializes in long-term, macro-oriented investing, and now UBS clients will have access to its insight into asset allocation. The partnership will complement UBS' existing investment research and will be overseen by Mike Ryan, head of UBS Wealth Management Research Americas.

UBS said in a press release last week that its clients will be able to access RBA's research via a managed portfolio program in a fee-based account of predominately exchange-traded funds. RBA will share market views that include overall equity-versus-bond recommendations, size and style positioning and international allocations. RBA also will participate in UBS conferences, roundtables and select client events, according to a UBS representative.

UBS is reorganizing and repositioning its wealth management division. It had major adviser defections in 2008 and 2009. Scandals also took a toll on its image, including the sale of controversial auction-rate securities and a subsequent buyback of those investments.

Last year, the bank hired Robert McCann to turn things around as chief executive of UBS Wealth Management Americas. In a recent interview, McCann was optimistic that UBS could be positioned as more of a boutique-oriented wealth manager, with a sharp focus on very-high-end clients.

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