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UBS nabs two teams from Bernstein Private Wealth


UBS nabs two teams from Bernstein Private Wealth

Two teams that collectively managed about $1.7 billion in client assets at Bernstein Private Wealth Management are joining UBS, the firm announced Thursday.

Charles Lynch leads one team, which includes senior wealth strategy associate Frank Ruggiano.

According to his BrokerCheck report, Lynch had been affiliated with Bernstein since 2007. He works with high-net-worth families, business owners, athletes and nonprofits. Lynch played in the National Football League for two years, including a year with the Atlanta Falcons, after playing football at Clemson University. He’s a member of the NFL Alumni and NFL Players Association.

The second team is led by Elijah Dornstreich and Ryan DePaul, and includes senior wealth strategy associates Michaela O’Connell and Jack Ramirez.

Dornstreich works with business owners and families, with a focus on pre-transaction planning. Before joining Bernstein in 2011, he founded Capital Business Partners, a lending firm for small business owners; earlier, he founded a middle market financial services and real estate company.

DePaul has 13 years of experience, starting at ING Financial Partners in 2009; he joined Bernstein in 2012. He works with high-net-worth individuals, business owners and corporate executives.

“We are proud to expand our team in Philadelphia, which is a growing and productive region for our business,” Julie Fox, Philadelphia D.C. market executive at UBS Private Wealth Management, said in a statement.

Don’t expect surge in actively managed ETFs to stop anytime soon ID


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