Julie Fox, Southeast Regional Director, Managing Director, UBS Financial Services Inc.

In an interview with Invest:, Julie Fox, Southeast Regional Director at UBS Financial Services Inc., discussed the firm’s performance and evolving client needs in Philadelphia amid market volatility and industry shifts, as well as strategies they have in place for navigating generational wealth transfer. 

What do you consider to be UBS’s most significant milestones or achievements in Philadelphia over the past year?

Both 2024 and 2025 have been very interesting years for our industry. Although stocks are volatile, market returns have been strong. Our financial advisors in our offices across the Philadelphia region have had record years in their businesses, which is a positive in general across the board.

That said, as you speak to many people in the financial services and banking industry, it was also a challenging year. The interest rate environment was very difficult, which generally makes profitability more challenging for banks. We still see that today, in 2025, with the current volatility. That uncertainty also extends to potential legislative impacts on the financial services industry.

Looking back, the regional bank crisis a few years ago reinforced why clients may want to work with large and reputable global banks. They may want institutions with high credit ratings, strong balance sheets, and low credit default swap spreads. UBS, as a leading wealth manager, has all of those characteristics.

In Philadelphia specifically, we saw strong results in terms of revenue growth, asset growth, and market share. Many investors seek advice now more than ever, which has led to a strong year in new client asset flows. 

A year and a half ago, we completed the renovation of our Philadelphia office at 1735 Market Street, reaffirming our commitment to the local area. Now in 2025, we are excited to kick off yet another renovation project in our Newtown, Pennsylvania office and are also moving our Conshohocken location to Radnor, which we will fully renovate as well. We remain deeply committed to the Philadelphia area.

We have also been active in the community. Some highlights include our employees serving dinner at the Hope Lodge in Pennsylvania, which is outside Philadelphia, through our CEOs Against Cancer chapter, which I am involved with. Another group of us volunteered to make care kits for children at the Children’s Hospital of Philadelphia. We also hosted unique client events, particularly as the election approached in 2024. Clients wanted insights from our Chief Investment Office and industry leaders on post-election expectations, so we organized several engagements around that.

How would you describe your clients’ current needs and to what do you attribute this shift in behaviours?  

I think there are a few factors at play. First, we’ve seen significant volatility in the markets this year, driven in part by changing policy and tariff news.

In Philadelphia specifically, there are many business owners and small businesses. We have seen a number of people looking to exit their companies. This creates a need for advice and information, as clients rely on their professional teams, from financial advisors, lawyers, and accountants, for advice on how to navigate the environment.

We also work closely with business owner clients and their teams to thoughtfully approach the sale of their businesses. Post-sale, we help them manage liquidity events, including estate planning strategies, tax considerations, and wealth management strategies.

Additionally, market volatility and uncertainty naturally drive demand for advice. Clients want to speak with professionals who can guide them on investing, financial planning, and tax strategies.

Another major shift is the generational transfer of wealth. Over the next decade, a record amount of wealth is expected to change hands. Preparing clients for this transition is critical, as the next generation has different needs and preferences in how they work with advisors.

Also, the economic environment has not led to any significant changes in how we service clients. The approach to working with clients remains consistent. The value of having a financial advisor lies in their ability to provide stability, expertise, and long-term planning as they help clients avoid emotional decision-making, which often arises during periods of volatility.

With technology becoming increasingly relevant in today’s banking landscape, how is UBS leveraging innovation to optimize client service?

I believe no matter what, there will always be a substantial need for human advice. This is especially true when discussing personal matters such as finances, planning for family needs and expenses, or considering future philanthropy. Typically, individuals prefer to meet or speak with an actual person regarding these topics. This preference becomes even more pronounced when working with high-net-worth or ultra-high-net-worth clients, who highly value the personal touch. That being said, like all other industries, artificial intelligence (AI) will shape the future of financial services by introducing efficiencies, whether through technology or by reclaiming time for individuals.

Internally, in 2025, we have continued expanding our tools for advisors and clients using AI. In 2024’s interview, I mentioned our Smart Technologies and Advanced Analytics Team (STAAT) tools, which use generative AI to enable our advisors to be more efficient with administrative tasks and dedicate more time to clients. This internal chatbot helps our advisors locate information more quickly, which improves efficiency.

Additionally, this year, we have continued to roll out access to Microsoft Copilot to all of our advisors, which not only has enabled our teams to deliver enhanced creativity but also provides them with key data and information to drive better data-led decisions, streamline workflows, and deliver operational efficiencies. However, I firmly believe the human element will remain essential — and these tools enable our advisors to deliver more of that, not less of it. Money, future planning, wealth, and family are deeply personal matters, and people want to trust and engage with a real person when making these decisions.

What are some of the biggest challenges and opportunities facing the industry in Philadelphia specifically over the next few years? 

One major opportunity is the impending generational wealth transfer, as mentioned before. A significant portion of wealth is expected to transition to the next generation, and we must consider how to engage with them effectively. Additionally, more wealth will be held by women, prompting us to refine our approach to serving female clients. We have a dedicated women’s client segment that focuses on addressing their unique needs.

In Philadelphia and the broader mid-Atlantic corridor, encompassing Baltimore and D.C., there remains substantial wealth creation, often driven by mergers and acquisitions. D.C., for instance, consistently ranks among the top 10 global ultra-high-net-worth cities. Being embedded in these communities and understanding the industries driving growth is crucial.

What changes do you foresee in state or federal regulatory environments with the new administration, and how is UBS preparing to adapt?

The primary focus with clients is discussing how regulatory changes may impact markets. Daily headlines highlight implications for various industries and companies, so helping clients plan ahead rather than react is essential. Sticking to long-term financial goals with a well-diversified portfolio and avoiding knee-jerk decisions based on news cycles is critical.

Another key area is revisiting estate plans. Recent tax changes underscore the importance of ensuring all arrangements align with clients’ intentions. We encourage clients to review their insurance policies and overall estate planning strategies with all of their advisors to confirm everything remains optimized.

In terms of talent acquisition and retention, how is UBS adapting to labor market shifts, and what steps are you taking to foster a strong workplace culture?

In this region, maintaining a presence both downtown and in the suburbs is vital for accessing top talent. We continue to grow by attracting leading advisors and their clients, as well as recruiting from competitors.

In 2025, we are particularly excited about the expansion of the Wealth Advice Center, UBS’s advisor training program, providing a pipeline of new advisors and next generation talent. Building on tremendous growth so far, the Wealth Advice Center is adding two new large regional offices in Dallas and Phoenix and will also integrate advisors into existing UBS offices throughout the U.S., with Philadelphia as a key location. Working with one or two local universities, we plan to recruit eight to 11 individuals to our Philadelphia office this year for a class beginning in October 2026. These recruits will learn the business, obtain licensure, and eventually join advisor teams in the area.

Julie Fox is a Regional Director, Southeast with UBS Financial Services Inc. a subsidiary of UBS Group AG. Member FINRA/SIPC in 1735 Market Street, Philadelphia, PA 19103 The information contained in this article is not a solicitation to purchase or sell investments. Any information presented is general in nature and not intended to provide individually tailored investment advice. The strategies and/or investments referenced may not be suitable for all investors as the appropriateness of a particular investment or strategy will depend on an investor’s individual circumstances and objectives.  Investing involves risks and there is always the potential of losing money when you invest. The views expressed herein are those of the author and may not necessarily reflect the views of UBS Financial Services Inc. Neither UBS Financial Services Inc. nor its employees (including its Financial Advisors) provide tax or legal advice. You should consult with your legal counsel and/or your accountant or tax professional regarding the legal or tax implications of a particular suggestion, strategy or investment, including any estate planning strategies, before you invest or implement.

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