Advisor Moves · Breakaway · RIA
Veteran UBS Team Managing $3.5B Breaks Away to Launch Beacon Coast Partners
A veteran UBS advisory team overseeing approximately $3.5 billion in client assets has left the wirehouse to launch an independent registered investment advisor in San Francisco.
By Advisor News Network
June 11, 2026
5 min
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UBS--
Transition:UBSBeacon Coast Partners
$3.5MAUM
A veteran UBS advisory team overseeing approximately $3.5 billion in client assets has left the wirehouse to launch an independent registered investment advisor in San Francisco.
Beacon Coast Partners, which officially launched June 10, is led by Michael Evans and David Jaspar, two advisors who spent more than two decades at UBS. The firm also includes Partner Edward Huang and support staff Katherine Piersanti and Marcus Ferriera.
According to the firm's announcement, the team oversees $3.5 billion in assets under supervision and specializes in advising ultra-high-net-worth founders, executives and early employees whose wealth is often tied to concentrated positions in private or public companies.
Industry publications reported that the team previously served 33 families with an average net worth of roughly $100 million. A 2025 Forbes ranking listed the practice with approximately $2.6 billion in assets under management and a minimum account size of $25 million.
Beacon Coast will custody client assets with Fidelity Investments, according to regulatory filings. Evans, Jaspar and Huang are listed as owners of the new firm.
The advisors said independence will provide greater flexibility in how they advise clients, particularly those facing major liquidity events such as initial public offerings, acquisitions or other significant wealth-creation milestones. The firm's planning approach includes investment management, tax planning, estate strategies and cash-flow advice.
"Our clients often spend years building businesses before a liquidity event fundamentally changes their financial lives," Evans said in comments reported by Barron's. "That transition introduces a new set of decisions."
Jaspar said the firm's model is designed to maintain a limited client roster in order to provide more customized advice and deeper relationships.
Evans began his career at Goldman Sachs in 1997 and joined UBS in 2003. Jaspar entered the industry in the early 1990s, spending time at Credit Suisse First Boston, Morgan Stanley and Goldman Sachs before joining UBS alongside Evans, according to BrokerCheck records.
The move adds to a growing list of advisor departures from UBS as large teams continue to explore independent channels. Earlier this year, several multibillion-dollar UBS practices left to launch RIAs or affiliate with independent wealth management firms.
At the same time, UBS has continued recruiting advisors and recently said it expects advisor attrition pressures to moderate during the second half of the year as it works through changes to its compensation structure.
TagsUBSBeacon Coast PartnersFidelity InvestmentsRIABreakawaySan Francisco
