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John Mathews

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63
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2025-05-12
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2025-05-12
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1
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podcast

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  1. “And then the third stool's customization. We have to figure out how to customize the relationship because that's what the clients expect from us. They expect some level of customization, whether it's something that they need a special report. I want to get that compliance approved, which is a highly regulated industry. But if our control partners are comfortable with what we want to do with our clients, they're great partners to have in this thing. When you run a large wealth management business, you have to have a lot of consistencies. You have to keep it right down the middle in most cases. So my job as the leader of the organization is to try to find ways to operate within it, but to create that personalization, specialization, and customization.”

    2025-05-12 · Capital Allocators · John Mathews – Steering the Largest Wirehouse at UBS (Private Wealth 2, EP.444) · IDENTIFIED FROM THE TRANSCRIPT · source

  2. “Or alternatives or asset allocation. They'll bring these experts in as an internal third-party subject matter expert to speak with their clients. I am convinced that that specialization is critical because clients are smart. And if you bring someone in here that's not really a specialist, the clients aren't going to say anything to you. They're going to smile and say thank you and they're going to walk out the door and they're going to go find somebody who's a real specialist. So while our private wealth advisors in many cases are generalists in how they approach the business, they bring in these specialists. We have an army of specialists, I think, are the best in the business. For example, we have over 30 trust in a state attorneys. At UBS, we don't outsource this stuff. We only outsource if we feel like we can't do it internally. Most everyone, an advisor will put in front of their clients as a UBS employee. And in many cases, the buck stops with me. Clients like that.”

    2025-05-12 · Capital Allocators · John Mathews – Steering the Largest Wirehouse at UBS (Private Wealth 2, EP.444) · IDENTIFIED FROM THE TRANSCRIPT · source

  3. “Regulatory requirements we have to work under. But at the same time, we have to be competitive in the marketplace. So everything we do has to be about how personal are we getting with that client and what they're trying to accomplish. Sounds like that's simple, right? Everybody is, but it's not. There's a lot of cookie cutter approaches to the wealth management business today, and especially in the ultra high network space, there is no cookie cutter solution. It's not a one size fits all. It's a one-size-fits-all. Those private wealth advisors Every client they have, they may be similar, but what client A needs can be completely different than what client B needs. So it's that deep personal attachment to them. And then the specialization, which I think is some of the secret sauce of our business here in the United States, is many times our advisors are going to bring in internal specialists to talk about things like trust in a state or philanthropy or family advisory.”

    2025-05-12 · Capital Allocators · John Mathews – Steering the Largest Wirehouse at UBS (Private Wealth 2, EP.444) · IDENTIFIED FROM THE TRANSCRIPT · source

  4. “It's really hard. A couple of things is we are an open architecture platform at UBS in the United States. So we can talk about different products and services and asset managers until we can't talk about them anymore because we offer just about everything. We have our own internal UBS products and services as well. We have our asset management company, which I think is one of our crown jewels. But our advisors aren't required to recommend that to their clients if they don't want to. It's whatever they think is the best possible investment for the best possible price for the client at that particular time. We're completely agnostic. In our private wealth business, we have this foundation that we try to build everything off of three words, personalization, specialization, and customization. Now, that's extremely hard in a wealth management business that's very compliant driven. We have a lot of regular...”

    2025-05-12 · Capital Allocators · John Mathews – Steering the Largest Wirehouse at UBS (Private Wealth 2, EP.444) · IDENTIFIED FROM THE TRANSCRIPT · source

  5. “Have different managers and locations around the country, and managers will report in to us. So it sounds complicated, but it's really not because That channel may report into May. Globally, I have people around the world that do what I do. We have regular communication and contact and very collegial for me to pick up the phone and have a discussion with someone in Asia or the Middle East. So sounds complicated, but it actually comes together pretty well. And I've also been running this business for 14 years. Maybe I'm simplifying a little bit more that needs to be, but the relationships that I've built with our internal stakeholders in the organization, as well with our financial advisors at the firm and also our external stakeholders, our partners and asset managers that we work with probably makes it a little bit easier for me.”

    2025-05-12 · Capital Allocators · John Mathews – Steering the Largest Wirehouse at UBS (Private Wealth 2, EP.444) · IDENTIFIED FROM THE TRANSCRIPT · source

  6. “Have 661, what we call private wealth advisors. Those are the advisors that primarily focus on the ultra-high network client segment. You have to have some certain criteria to qualify for that. You already have to have a certain number of ultra high network clients in your book of business. And then you have to go through an accreditation program that we make all of our private wealth advisors go through. So we have 661 of those. That's comprised of 230 teams. Most everyone's on a team now. Because what I found is this is a team sport. Really hard as an individual to manage the complexities for our clients. So part of it's about investments. But a large part of it's about helping them with the complexities of everything else in their life too.”

    2025-05-12 · Capital Allocators · John Mathews – Steering the Largest Wirehouse at UBS (Private Wealth 2, EP.444) · IDENTIFIED FROM THE TRANSCRIPT · source

  7. “If we have clients in the United States that are looking for insights from someone in Asia, or maybe they want to start a business in Asia, we can make those connections really quickly. We have boots on the ground everywhere in the world, and we have clients on the ground from everywhere on the world. That's the exciting thing about our business. In the U.S., $2 trillion of assets under management, about 60% of those assets are in ultra-high net worth assets. It's been the fastest growing client segment that we've had at our firm for the last 15 years. We classify clients in different segments. We have core fluent, mass affluent, high net worth, and ultra high net worth. I get to oversee the part of wealthiest client segment here at the firm, and it ranges from anywhere from a business owner that just happened to sell their business, and now they're wealthy to some of the largest families and their family offices in the United States and trying to help them navigate the complexities of the investment landscapes out there.”

    2025-05-12 · Capital Allocators · John Mathews – Steering the Largest Wirehouse at UBS (Private Wealth 2, EP.444) · IDENTIFIED FROM THE TRANSCRIPT · source

  8. “Take a step back and just look at the UBS platform from a large perspective. We're the world's largest global wealth manager. We manage on our wealth platform alone over $4 trillion. If you include our asset management company, we're over $6 trillion of wealth around the world. $2.1 trillion of that wealth sits in the United States. So we're a very large wealth manager in the U.S., but also globally. We're the largest wealth manager in Asia. We're the largest wealth manager now in Latin America after our Credit Suisse acquisition. And we're the fourth largest wealth manager in the United States based on assets under management from wealth clients, also the largest wealth manager in EMEA. That global perspective and insights in the ability to connect clients and learn from clients regardless of where they live, I think is really the special sauce of UBS. For example,”

    2025-05-12 · Capital Allocators · John Mathews – Steering the Largest Wirehouse at UBS (Private Wealth 2, EP.444) · IDENTIFIED FROM THE TRANSCRIPT · source

  9. “View my job as really a leadership position, and I love the business, I love clients, I love working with financial advisors, I love directing strategy to try to think five years ahead, to try to put our advisors in the best position and our clients in the best position. I love the leadership principle of it. And I have hundreds of private wealth advisors that report into our business here at UBS and the Americas. I think of it as like the special forces of our UBS Army of the United States. And I think we're really good at what we do. And so the passion of me to help people grow professionally and help their clients do even better is what drives me at this. I tell people all the time, my job is to help our clients do better for themselves. Our advisors do better for themselves. If we help our clients do well, our advisors do well as well. It's like one large partner.”

    2025-05-12 · Capital Allocators · John Mathews – Steering the Largest Wirehouse at UBS (Private Wealth 2, EP.444) · IDENTIFIED FROM THE TRANSCRIPT · source

  10. “Direction at the same time. We've seen our clientele become extremely wealthy, especially in the last 15 years since QE. And what I noticed back at that time when interest rates are sitting at zero for a period of time, wealthy clients were going to get significantly more wealthy faster. When there is zero cost to borrow and you already have assets regardless of what's happening in the markets, you can redeploy those assets. You can buy businesses and borrow to buy those things at basically zero. What we saw the last 15 years was this enormous growth in wealth in the United States and globally. During those times, I found myself gravitating towards those complex situations with those clients who are accumulating wealth quickly and what to do and how to help them with those situations. That's how we went from being an advisor from a small town trying to figure it out to now working with some of the wealthiest people in the United States.”

    2025-05-12 · Capital Allocators · John Mathews – Steering the Largest Wirehouse at UBS (Private Wealth 2, EP.444) · IDENTIFIED FROM THE TRANSCRIPT · source

  11. “Back in the late 80s, early 90s, it was really all about equity selection, buying stocks, building positions, trying to make our clients' money through buying the right equities. And then the industry really evolved to more asset management fee-based solutions for our clients. For some reason, I was always an early adopter. So I was the first person involved with managed accounts. And I was one of the first people involved with looking at a state planning insurance solutions. And to me, the consultative view of the business, which was much more appealing to me than the individual stockpicking. Because of that, I guess I was thinking in the future, and that became the future of our business. So much of our business now is tied to asset allocation, using managers as a proxy to picking individual stocks, using indexes and charging our clients an advisory fee as opposed to a commission per transaction. Early into that led me into trying to lead other people in that.”

    2025-05-12 · Capital Allocators · John Mathews – Steering the Largest Wirehouse at UBS (Private Wealth 2, EP.444) · IDENTIFIED FROM THE TRANSCRIPT · source

  12. “I call myself the accidental executive. So went to the University of Florida. I'm from a small town in the state of Florida. Always thought I was going to be a lawyer. But when I was graduating from college, all my friends were going that direction. So I said, why not do something different and decided to become a stockbroker? Now we call ourselves financial advisors who think I had somewhat of a successful early career, was asked to get into management into leadership. Fast forward 34 years later, and I now lead the private wealth business for UBS here in the Americas.”

    2025-05-12 · Capital Allocators · John Mathews – Steering the Largest Wirehouse at UBS (Private Wealth 2, EP.444) · IDENTIFIED FROM THE TRANSCRIPT · source

  13. “Guest on the second episode of Private Wealth is John Matthews, the head of Private Wealth Management in the Americas for UBS. UBS is the world's largest global wealth manager with $6 trillion in assets, of which $2 trillion is under John's purview. He oversees $230 teams comprised of 661 financial advisors, each of whom manages over a billion dollars in assets. Our conversation explores how the largest wirehouse empowers its financial advisors to act as entrepreneurs to bring tailored investment solutions to their clients. We cover the scale and scope of the UBS private wealth platform, the need for personalization, specialization, and customization, the bank's centralized investment strategy, and decentralized implementation, It's curated alternatives platform and the evolving landscape for financial advisors.”

    2025-05-12 · Capital Allocators · John Mathews – Steering the Largest Wirehouse at UBS (Private Wealth 2, EP.444) · IDENTIFIED FROM THE TRANSCRIPT · source