UBS has rolled out a program that incentivizes its soon-to-be retired advisors to transition client assets under its own roof.

UBS Wealth Management Americas has launched an initiative to help advisors transfer client relationships to a colleague ahead of their retirement.

Under The Aspiring Legacy Financial Advisor Program advisors could receive a payout that is more than double their annual production – on the condition that clients are re-homed at UBS.

Receiving advisors are transferred 100 per cent of the transitioned account assets on the first day of the program, at which point they start benefiting from the associated production.

They can also earn an annual 5 per cent growth bonus for growing high and ultra high net worth production in the transitioned households for five years.

“In the past, one of the components was on total assets,” Jason Chandler, head of UBS’ wealth management advisor group in the eastern US, told the Wall Street Journal. “We view the health of our business more on the quality of the assets now.”

“Our overall arching umbrella strategy is to be the firm of choice for ultra high net worth clients and the advisors who serve them,” Chandler said.

The moves comes as the industry at large is looking for ways to address the fact that many of its older advisors are edging closer to retirement. Meanwhile, one of the most notable trends since the financial crisis is the “breakaway” phenomenon involving what has been described as an "exodus" of advisors away from the wirehouses and into the independent space - and taking their clients with them.