UBS Snags $8.6-Million Merrill Lynch Advisor in Arkansas
UBS Wealth Management USA, which has been looking for to bolster its recruiting of top-end producers, on Friday nabbed a Merrill Lynch advisor who had generated $8.6 million in annual income in Jonesboro, Arkansas, a spokesperson confirmed.
Joseph “Clay” Young IV, a three-decade trade veteran, had managed $956 million in property at Merrill, in accordance with an trade rating cited by the spokesperson. I’ve joined UBS’s South Market led by Regional Director Julie Fox on Friday.
Young will work from a UBS workplace in Memphis, Tennessee, till it opens an workplace in Jonesboro later this 12 months.
Neither Young nor a spokesperson for Merrill responded to requests for remark.
The high-profile rent comes as UBS is making an attempt to regain momentum after a interval of elevated advisor attrition tied in half to compensation modifications that took impact final 12 months.
Over the previous two weeks, UBS has rolled out an aggressive recruiting bundle that provides 550% of trailing-12 month income for groups that generated a minimum of $7 million in annual income. While strikes can usually take a minimum of six months to plan and execute, Young would seem to have met the brink for the record-setting provide.
The UBS spoke declined to touch upon whether or not Young had certified for or accepted the provide.
Young started his profession with Wells Fargo’s AG Edwards predecessor in 1996 and labored at Stephens Inc. earlier than becoming a member of Merrill in 2015.
Young additionally incorporates social media into his advertising and marketing and is energetic on Instagram the place he identifies himself as a Merrill managing director and has greater than 11,400 followers. Recent posts embody Young posing with US Health Secretary Robert F. Kennedy Jr. and Danny McBride, star of ‘Eastbound & Down’ and ‘Righteous Gemstones.’
UBS has skilled an exodus of advisors over the previous 12 months following modifications to its compensation for 2025. UBS shoppers withdrew a web $14.1 billion in the fourth quarter of 2025 and a minimum of 54 groups with nearly $52 billion left final 12 months.
Last month, he added longtime Morgan Stanley government Ben Firestein to be head of Field Leader Development and National Recruiting and Retention, and it elevated Lisa Golia to a newly created position straight overseeing the agency’s US advisory drive.
UBS additionally final week won approval for a US financial institution constitution.
