UBS, Raymond James, Stifel; plus, free crypto education for advisors, female investor outlooks, and scholarships for racial equity – Financial Planning

UBS creates a new business unit housing five existing ones


Wealth manager UBS created a new business unit it calls Global Family and Institutional Wealth under the leadership of George Athanasopoulos, the company’s current co-head of global markets for its investment bank. In the position, Athanasopoulos reports to Rob Karofsky, the president of the investment bank; Iqbal Khan, the co-president of the Global Wealth Management division; and Tom Naratil, the other co-president of Global Wealth Management, the three executives said in a company memo to staff. The new unit brings together five existing units: Global Family Office, United Global Markets, Global Lending, Prime Brokerage and Private Markets One Bank. Bringing them under one unit will help UBS toward its goal of further supporting “entrepreneurs, family offices and other private investors with sophisticated, institutional-like needs by providing more seamless access to the intersection of UBS’s investment banking and wealth management capabilities,” according to the memo.

Buckingham Strategic Partners buys Lumia Wealth

Lumia Wealth, an RIA in Overland Park, Kansas, will join with Buckingham Strategic Wealth of St. Louis, Missouri. Lumia is a second-generation family firm led by Brian Brush, who took over from his father-in-law, firm founder David Imhoff, in 2016. The firm, which caters to professionals, business owners and doctors in the greater Kansas City area, has used Buckingham’s affiliated comprehensive wealth platform since 2002. The deal will close by June, with Brush moving into Buckingham’s Kansas City office. That outpost opened in November 2021 after Buckingham bought RIA The Planned Approach.