The wealth management group continues to grow its footprint in the West Coast, around the Los Angeles area for example. California's economic news hasn't been all positive in recent years – there's been an exodus of some firms and people – but it remains a significant financial center.

UBS Wealth Management has added two teams in California, increasing its footprint in the state following recent expansion.

The first team, which oversees $368 million of client money, is led by financial advisors Carl Ceder and Rachel Cain. The business has joined UBS in Sherman Oaks and Westlake Village, respectively. This comes after UBS announced earlier this month that a $500 million team led by financial advisors Roshan Ghaznavi and Matthew Seukunian had joined the firm – also based in Sherman Oaks.

The Switzerland-based group, which has made a number of moves to build out its West Coast presence, has described its strategy to Family Wealth Report. 

Ceder, who advises HNW clients, has advised clients on asset allocation, portfolio management and alternative investments for more than three decades and has spent the last 20 years at Merrill Lynch Wealth Management.

Cain is a Chartered Retirement Planning Counselor^SM and Certified Private Wealth Advisor. He also has experience of managing concentrated stock positions and helping clients access commercial banking and financing strategies. She spent over two decades at Merrill Lynch Wealth Management.

The three-person team also includes client service associate Diana Dell.

“We are thrilled to welcome Carl and Rachel to the firm, as we continue to grow our presence in the Los Angeles area. They bring a combined 50 years of financial services experience to our team, along with a proven ability to serve the complex needs of high net worth families,” Jim Kottoor, Greater Los Angeles Market head, said. 

UBS said that Ghaznavi and his team – the second team to arrive – are experienced in advising clients on retirement planning and long-term care.

Ghaznavi holds the Chartered Retirement Planning Counselor^SM designation. Prior to joining UBS, Ghaznavi spent 14 years as a wealth management advisor and managing director at Merrill Lynch.

Seukunian began his career as a financial advisor in 2021 after spending seven years working in business journalism and commercial real estate. He was previously at Merrill Lynch Wealth Management.

The team also includes client service associates Paulina Shavagyan and Anita Kazanjian.