UBS Lures $1.4B Los Angeles Team From Bernstein

UBS has acquired a Los Angeles-based team of financial advisors from Bernstein Private Wealth Management, bringing their assets under management to $1.4 billion. The four advisors, Pasha Azad, Dayne Crist, Steven Summerhays, and Koby Dardashti, will operate under the name Lumina Wealth Partners at UBS. They specialize in working with entrepreneurs, business owners, executives, artists, entertainers, professional athletes, and multigenerational families, focusing on business sales, investment strategy, philanthropy, and generational wealth transfer.

The team will join UBS's new Los Angeles office in Century City, which employs over 225 people. Several of the advisors have lengthy histories with Bernstein, with Azad spending 15 years and Crist 11 years at the firm. This move comes after UBS added a Tampa-based team managing $1.3 billion in assets from Bank of America Private Bank in July.

UBS has also appointed two new leaders in its South wealth management market, comprising Georgia, Tennessee, and Arkansas.