Thu. Sep 28th, 2023

June 10, 2021

A ‘top’ Park Town, Utah broker who experienced led a 6-man or woman $1.1 billion-AUM team has identified a new property with a registered financial investment advisory agency right after his termination by UBS. 

The wirehouse fired Glen Mintz, a 29-yr industry veteran who was ranked 3rd in Forbes’ 2021 Most effective in State checklist and a perennial Barron’s Leading 1,200 broker from 2014 to 2019, for “loss of confidence in potential to keep on in function thanks to failures to timely comply with management directives and an ongoing disregard for Company requirements relating to, among other matters, email use and necessary schooling,” according to his BrokerCheck record. 

The termination occurred April 19, although UBS filed the U5 notice with the Fiscal Industry Regulatory Authority on May well 19, pursuing a 30-day window that the regulator allows to give attorneys for the broker and agency time to negotiate the language. 

The submitting appears to replicate ongoing intolerance of huge brokerage firms for operational infractions, especially in the pandemic era as lawyers and compliance officials say corporations have stepped up monitoring of broker e-mails amongst other challenges.

For his aspect, Mintz promises that the wirehouse “never identified” the unique conduct that induced the shed self-assurance, in accordance to an addendum UBS involved with its U5.

“Mr. Mintz denies engaging in conduct that would moderately have caused UBS to have a ‘loss of confidence’ in his means to continue on in his position,” the U5 report notes. “Mr. Mintz intends to go after all suitable authorized selections with regard to his termination from UBS.”

Mintz on Could 24 opened a Park Metropolis business office for NewEdge Wealth, an RIA launched in December 2020 in Darien, Connecticut by previous UBS brokers. He referred requests for comment to Chris Broussard, the chief promoting officer for EdgeCo., a 401(k) administrator and guardian business for NewEdge. Broussard declined to comment beyond the U5 language. 

A UBS spokesperson declined to comment.

Mintz has no other disclosures on his BrokerCheck record. The database demonstrates he started off his vocation at D.H. Blair & Co. in 1991, moved to Tucker Anthony in 1992 and then in 1996 shifted to Bear Stearns in which he remained until eventually becoming a member of UBS in 2008. 

His previous workforce was called Mogul Fiscal Group and also integrated two other senior advisors, in accordance to a March 2020 advertorial that touted that they take in their own cooking when it comes to expense range. 

“If we’re not inclined to place our dollars into it, we will not put our clients’ money into it either,” Mintz said in the piece. 

The two other senior advisors on the Mogul staff keep on being at UBS, according to their BrokerCheck data. 

NewEdge is led by Jeffrey Kobernick and Robert Sechan, who produced all-around $20 million in their earlier 12 months, prior to leaving UBS, and had been known as Turnstone Prosperity Management.

The RIA was produced in partnership with EdgeCo., which also owns broker-supplier Mid Atlantic Cash. In another UBS tie-in, EdgeCo. in 2020 bought Non-public Wealth Associates, an impartial firm began by a previous UBS private prosperity government.

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