$3.5 UBS FAs Breaks Away to Launch Indie RIA

A financial advisor duo has departed from UBS Wealth Management to launch their own registered advisory firm, which specializes in providing tailored advice and services to clients facing liquidity-related concerns. 

San Francisco-based Beacon Coast Partners is led by founding managing partners Michael Evans and David Jasper and heavily focuses on serving founders, executives, and early employees whose “wealth is tied to a single company and who are preparing for or have recently completed a liquidity event,” the firm said. 

The team also includes VP of family office services Katherine Piersanti, partner Eddie Huang, and portfolio strategy associate Marcus Ferreira, per the firm’s website. 

Prior to jumping into the independent space, the duo, who both started at UBS in 2003, managed $3.5 billion at the firm, according to their BrokerCheck profiles. 

“You can spend years building something without liquidity, without certainty, and then everything changes at once,” said Evans. “That transition introduces a new set of decisions, and those decisions often carry long-term consequences.” 

The firm has selected Fidelity Investments as its primary custodian, according to its Form ADV Part 2A, updated on June 9. 

The pair left UBS on June 10 and registered as investment advisors, following the launch of Beacon Coast Partners, per BrokerCheck. 

In a LinkedIn post, Jasper stated that the RIA’s launch allows them to work more closely with clients “whose financial decisions have become more complex, more consequential and require careful coordination across competing priorities.” 

In January, a group of former advisors also left UBS to form their own registered investment advisor firm. Atlanta-based Harbor View Private Wealth, which is a five-person team, oversees about $1.3 billion in assets under management.

Pictured: Beacon Coast Partners