UBS Reps in Dallas Go Indie
A pair of experienced advisors in Dallas have left UBS Financial Services to launch their own independent wealth management practice, the new company says.
Founded by John Saalfield and Rick Lima, Wealth Partners Alliance also includes financial advisor Lindsay Heyman, according to a press release from the company. The move was prompted by a desire to leverage technology and strategic partnerships as well as “to create a better culture for advisors and clients to do business, which they feel has eroded over time since the financial crisis,” according to the press release.
"The Dallas market is ready for something new," Lima says in the press release. "Technology is the great equalizer allowing us to provide proven practice management and succession planning. That resonates with clients and forward thinking advisors."
Saalfield began his financial services industry career in 2007 and came to UBS in 2013, after stints at Northwestern Mutual Investment Services and JPMorgan Securities, according to his BrokerCheck profile.
Lima joined the industry in 1999 and had been registered with Banc of America, Citigroup and Morgan Stanley before joining UBS in 2011, according to his BrokerCheck record. Heyman, meanwhile, began her industry career in 2017 at UBS, according to BrokerCheck.
The advisors are now registered with Raymond James Financial Services’ independent channel while Wealth Partners is independent of Raymond James, according to the press release.
UBS has been revamping its U.S. operations in recent months, with a view to attract more advisors from its competitors and lure ultra high net worth clients. In recent weeks, however, the firm has seen movement both ways. Last month, UBS lost an advisor to Steward Partners Global Advisory, an employee-owned independent partnership associated with Raymond James Financial Services, and picked up a veteran representative from Merrill Lynch.