UBS

“John Matthews, the head of UBS's private wealth channel, and he's running 230 teams that manage north of a billion dollars.”

“So that, that ended up costing my firm well over ten million dollars that I was the majority owner of in addition to the millions and millions of dollars that our clients lost and ended up voluntarily repaying back our clients, but that, but yeah, that, that's…”

“So much of our business now is tied to asset allocation, using managers as a proxy to picking individual stocks, using indexes and charging our clients an advisory fee as opposed to a commission per transaction.”

“We're the world's largest global wealth manager. We manage on our wealth platform alone over four trillion dollars. If you include our asset management company, we're over six trillion dollars of wealth around the world. 2.1 trillion of that wealth sits in the…”

“We're the largest wealth manager in Asia. We're the largest wealth manager now in Latin America after our Credit Suisse acquisition. And we're the fourth largest wealth manager in the United States based on assets under management from wealth clients. Also the…”

“In the US, two trillion dollars of assets under management, about 60% of those assets are in ultra high net worth assets. It's been the fastest growing client segment That we've had at our firm for the last 15 years.”

“We have 661 what we call private wealth advisors. Those are the advisors that primarily focus on the ultra high network client segment. You have to have some certain criteria to qualify for that. You already have to have a certain number of ultra high network …”

“For example, we have over, over 30 trust and estate attorneys. At UBS, we don't outsource this stuff.”

“The rest of the world's been going through this for the last five years or a decade. We haven't, and I think we all have to be more focused on our own personal security.”

“We're agnostic to size of the fund, and sometimes that creates a queue at the window to get them, and sometimes that creates clients not having the best experience because they didn't get it, or they got a much smaller amount that they originally wanted alloca…”

“Our industry still is a relationship business, and you can post all the numbers you want to, but there's got to be some type of human interaction when you're talking about an illiquid, more complex investment.”

“You'll see our wealthier clients have a larger percentage, more than eight percent usually, to the alternative space, more heavily focused on private equity than hedge funds. That's been a flip. 15 years ago, that was all hedge funds. Now it's mainly private e…”

“So think about separating the cost of manufacturing from the cost of distribution or advice. That's the fastest growing platform we have here right now, where advisors want to say, Mr. And Ms. Jones, instead of me buying this the traditional way, I'd rather bu…”

“So when I first found out there's only one advisor and they were a startup in Dallas called Cogent Partners.”

“Also, maybe 40 to 50% of the flow in the market was actually bank selling similar to UBS.”

“Also, I think that these are pure advisory businesses that require no capital. And the challenging to run in big integrated banks that do require a lot of capital.”

“So if we can just grow with these people, you're going to be the Charles Schwab, the UBS of Europe in 2030 years.”

“They're too big to bail. So it's not too big to fail. They're too big to bail. They're so big. They're bigger, the Swiss government does not have the underwriting power to underwrite it, and I could see them failing and bringing down Switzerland with them, and…”

“They're too big to bail. So it's not too big to fail. They're too big to bail. They're so big, the Swiss government does not have the underwriting power to underwrite it. And I could see them failing and bringing down Switzerland with them.”

“UBS was effectively insolvent and there'd been a shotgun marriage forced by the Swiss national bank.”

“So we were wholly owned by UBS, and we actually had prime brokerage kind of assets exposed at that point in time, and actually one of the somewhat controversial decisions I made was I pulled from a number of different prime brokers, but UBS was one of them.”

“We did, and to be candid, we attempted a management buyout at that moment in time, and we got close, but we were recovering too quickly as were financial markets. So the trader, me and my peers actually tried to extract ourselves at a good price, but ultimatel…”

“UBS ran the numbers, and they think that depending on how quickly adoption happens, anywhere between sort of 14 and 27 of the Tesla-sized gigafactories would be enough to produce batteries for all of the world's electric vehicles. In aggregate, this would be s…”

“As a concrete example of that, UBS tore down a 2017 Chevy Bolt and found that a full 56% of the cost of the Bolt is going to LG”