Christopher Aitken, Managing Director – Jacksonville, UBS
Invest: met with Christopher Aitken, managing director and financial advisor with UBS in Jacksonville, to discuss the firm’s role in supporting an influx of new residents, adapting wealth management strategies to evolving client needs, and navigating local market trends, highlighting UBS’s commitment to holistic financial guidance.
Reflecting on the past year, what have been the company’s main contributions or impact on Jacksonville?
One major development here in town is the influx of families moving to Jacksonville, particularly from places like California and the Northeast. As a result, we’ve been helping these families transition by providing support with community integration and navigating the overall process of settling in. This trend of new families moving in has really accelerated since COVID-19, and it hasn’t slowed down. More people are realizing Jacksonville is a great place to live and raise a family, and we’re helping them establish roots here.
What trends or dynamics in wealth management should the market take into consideration?
The industry here is growing rapidly. For example, our team’s revenue is up about 40% year-over-year. We happen to be the largest team across any firm in Jacksonville and the North Florida region. We’re seeing significant growth and new opportunities, especially with families moving here who are looking for experienced wealth managers. Our team, which I lead, consists of 12 members, and our mission is to help families make rational financial decisions in what can be irrational times.
To what extent has population and business growth had an impact on the company’s operations here?
For our team specifically, revenue has more than doubled in the past four to five years. The growth over the last decade has been particularly remarkable, especially since COVID. Jacksonville — and, really, all of Florida — has been growing at a tremendous rate, likely double the overall industry growth. I chose Jacksonville because I believe it’s a hidden gem in Florida. The growth that initially took place in southern Florida is now moving north, with Jacksonville seeing substantial benefits. UBS aims to capitalize on this momentum by growing our presence here through the team, as well as acquisitions of skilled advisors from other firms.
Where is investor confidence right now compared to a year or even two years ago?
I’d say investor confidence is significantly higher. The recent election brought a level of clarity, and inflation is also stabilizing, which has created a bit of a tailwind. Our local economy is thriving, real estate is booming, and we have a low unemployment rate. Jacksonville is truly flourishing, and it’s an excellent place to be right now.
Have you noticed a shift in client expectations around wealth management in recent years?
Absolutely. Wealth management used to be largely about managing money. These days, though, financial planning and other aspects make up about 80% of our time with clients. We go beyond investments, providing in-depth financial planning each quarter. We cover everything from retirement planning, identifying spending patterns, major life purchases, and projecting their financial outlook to age 100. We also act as private bankers, assisting clients with personal investments, real estate purchases, loans to family members, and more. Beyond all of that, we become their risk managers, balancing risky investments with safer options. Our role is to help clients stay focused on their long-term goals and provide a sounding board before they make any major decisions.
Is it safe to say you’re moving into a more comprehensive consulting role, offering strategic advice beyond traditional wealth management?
We’re usually the first call clients make for any major life decision, whether it’s a purchase, an investment, or a family matter. We help them analyze how these choices fit into their financial plans and how they impact long-term goals. We wear many hats, including acting as financial psychologists. Our goal is to help families make rational decisions during uncertain times. Given today’s global issues—political turmoil, conflicts, tariffs, and economic volatility—there’s no shortage of things that can create anxiety. Often, managing our clients’ emotions around their assets is just as important as managing the assets themselves. In essence, we’re part financial advisor and part emotional guide.
How has the definition of “financial freedom” evolved for clients in recent years, especially for high-net-worth individuals and families?
Financial freedom, to me, is when a client has reached a level of wealth that allows them to live their desired lifestyle without relying on earned income. Many of our clients are at this stage and are able to focus on giving back to the community, supporting charities, and helping family members. We have clients who have worked hard to build successful businesses, and many have relied on our support to help them monetize those businesses. Achieving this level of freedom is incredibly rewarding for them.
Financial freedom means different things to different people. Essentially, it’s about being able to sustain your lifestyle without depending on earned income.
What are the main challenges UBS faces in Jacksonville, and where would you like to see the business in the next two to three years?
Our biggest challenge is visibility. Despite being the top-rated team in North Florida, we don’t do much marketing, so most of our growth is from referrals. This interview is a great opportunity to let people know we’re here, experienced, and open for business. In terms of our outlook, it’s incredibly positive. Our focus on wealth management is a huge asset and our mandate is to put clients first. With this focus, we’re seeing growth, and we’re in a strong position compared to many of our competitors.
