By Kenneth Corbin
A Bay area investment advisory team has left UBS to form an independent registered investment advisory firm. Beacon Coast Partners is led by Michael Evans and David Jasper, who oversaw $3.5 billion at UBS, which declined to comment on their departure.
Their five-person practice, based in San Francisco, serves ultrahigh-net-worth individuals and families, specializing in founders, executives, and early employees whose wealth stems from the stakes they hold in the companies they work for. The team served 33 families at UBS, with an average net worth of $100 million.
Beacon Coast says it helps those clients navigate liquidity events, offering a holistic service model that provides advice on asset allocation, cash-flow management, and tax and estate planning.
"You can spend years building something without liquidity, without certainty, and then everything changes at once," Evans says. "That transition introduces a new set of decisions, and those decisions often carry long-term consequences."
The firm notes that as an independent fiduciary practice, its advisors aren't bound by institutional directives or proprietary products.
Evans and Jasper are both industry veterans who had lengthy careers at UBS. Evans broke into the industry in 1997 with Goldman Sachs, and moved to UBS in 2003. Jasper first registered as a broker in 1993 with CS First Boston. He then spent less than a year at Morgan Stanley before joining Goldman Sachs and then jumping to UBS at the same time as Evans.
Beacon Coast says it "serves a limited number of clients by design," providing for more involved relationships that allow advisors to tailor advice toward their wealthy clients' big-picture goals.
"We are dedicated to helping clients define what their wealth is meant to support," Jasper says. "From there, the work focuses on building a durable structure that can adapt over time while remaining aligned with those priorities."
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(END) Dow Jones Newswires
June 12, 2026 15:55 ET (19:55 GMT)
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