UBS Acquires Los Angeles-Based Wealth Management Team from Bernstein
UBS has recruited a team of four financial advisors managing $1.4 billion in assets under management (AUM) and generating $11.5 million in production, transitioning to UBS as Lumina Wealth Partners based out of its Century City office in Los Angeles. The advisors—Pasha Azad, Dayne Crist, Steven Summerhays, and Koby Dardashti—are experienced professionals who previously worked at Bernstein for 5–15 years before the move. They specialize in serving high-net-worth clients such as entrepreneurs, executives, artists, athletes, and multigenerational families with a focus on liquidity events, investment strategy, philanthropy, and wealth transfer. This acquisition follows UBS's recent addition of another team from Bank of America Private Bank based in Tampa. The bank is also restructuring its leadership in the South market by appointing John Houlihan as market executive for private wealth management and Ian Roth—formerly with Goldman Sachs—as senior market director overseeing the region’s private wealth business. UBS CEO Sergio Ermotti has indicated he plans to step down no later than spring 2027, potentially naming an internal successor. He also mentioned exploring acquisitions in the Americas as a growth strategy after recent client inflows of $5.3 billion for Q1.
Topics: Bernstein Private Wealth Management hiring Los Angeles UBS wealth advisors