Marc Lundgren, Market Director for North Florida, UBS
In an interview with Invest:, Marc Lundgren, market director for North Florida at UBS, discussed his first year leading the North Florida market and shared how demographic shifts, wealth transfer, and artificial intelligence are reshaping the wealth management industry. “It’s not a nice-to-have, it’s going to be a requirement for the next generation,” Lundgren said, emphasizing the importance of adopting new technologies early.
You recently completed your first year leading UBS’s North Florida market. What were your top priorities during that transition?
Taking over the market was primarily about getting to know our people. During my first few months, I focused on building relationships with our teams and establishing the culture I wanted across our offices. Every leader has a different approach, so it was important for everyone to understand how I wanted us to work together and how we would grow the business.
The second priority was developing a strategy for growth. We wanted to determine how we would engage with the community, strengthen our team, and make UBS a great place to work. Finding the right balance between business growth and maintaining a strong culture was the biggest focus during my first year.
North Florida continues to attract new residents and businesses. How is that growth influencing investment activity and wealth planning across the region?
The population continues to grow as more people move to the area, and Jacksonville itself is going through a significant transformation. The new football stadium, the redevelopment of the riverfront, and new parks are all contributing to that momentum.
We want to be part of that growth. We’ve partnered with organizations like Communities in Schools, participated in volunteer initiatives, packed backpacks, and raised money for local causes. Although Jacksonville is a large city, it still has the feel of a close-knit community where people know one another.
I often describe Jacksonville as being where Tampa was about 10 years ago: development is happening throughout the city, it’s located on the waterfront, and it’s a business-friendly environment. That creates tremendous opportunities for our business, provided we remain active and engaged in the community.
Which economic trends are you watching most closely today?
Real estate development is one of the biggest trends. The Jacksonville Jaguars’ new stadium is under construction, and the city is also getting a Four Seasons hotel as part of a mixed-use hotel and condominium development, which is changing the downtown footprint.
The University of Florida is expanding with a graduate school campus in Jacksonville, bringing additional investment into the city. All of these developments align well with our business because they create opportunities for us to provide lending, financial planning, banking, and wealth management services as the region continues to grow.
How are client priorities evolving as one of the largest intergenerational wealth transfers in history begins?
The shift is already underway, and I encourage our advisors to build relationships with the next generation because the wealth transfer over the next 10 to 20 years will be unlike anything we’ve seen before.
I also believe our advisor teams should reflect the changing demographics of our clients. That includes having advisors of different ages, bringing younger professionals onto established teams, increasing female representation, and creating teams with diverse backgrounds. Our clients are changing, and we need to mirror that evolution.
The next generation is also far more comfortable with technology. As UBS continues investing in artificial intelligence and other technologies, I encourage our advisors to develop those skills as well. It’s not a nice-to-have; it’s going to be a requirement for the next generation.
How is artificial intelligence changing the way advisors serve clients and manage relationships?
We’re already seeing meaningful efficiency gains. We use Microsoft products, including Copilot, and even simple features have made a difference. Scheduling meetings no longer requires multiple phone calls or emails because clients can simply select an available time through our email signature.
UBS has invested heavily in technology that improves efficiency and helps us connect with the next generation of clients. My role is making sure our advisors embrace these tools through training and everyday use.
Personally, I’ve become an early adopter. Before sending emails, I often run them through Copilot to improve the wording or make them more concise. The technology is already proving valuable, and firms that fail to adopt it will fall behind.
How are you attracting and developing the next generation of financial advisors and leaders?
Recruiting is a major part of my role. One of the first groups I targeted consisted of younger advisors coming out of Merrill Lynch’s training program. We have also successfully recruited several advisors in their 40s who are still in growth mode.
Younger advisors often attract younger clients, which helps position us well for the future. The average financial advisor at UBS is in their early 60s, so succession planning is critical. We need younger professionals working alongside experienced advisors to ensure continuity as senior advisors eventually retire.
We also have internal development programs for employees coming from planning, analysis, and other support roles. Several individuals in my office are currently progressing through those programs, learning our products and services so they can advance into advisor positions.
What role does mentorship play in preparing the next generation of advisors?
Experience is the best teacher. The sooner we pair younger professionals with senior advisors, the more opportunity there is for knowledge transfer before retirement occurs.
Our experienced advisors have navigated multiple economic cycles, and that perspective is incredibly valuable. Creating those mentoring relationships every day helps ensure that expertise is passed on to the next generation.
Looking ahead over the next two to three years, what are your top priorities for the North Florida market?
The first priority is continuing to recruit talented advisors throughout the region.
The second priority is helping our advisors capitalize on the tremendous opportunity created by the ongoing wealth transfer. UBS provides resources, events, and capabilities across the country and around the world, and I want our advisors using those resources to grow their businesses.
The third priority is continuing to embrace AI and technology. We have new tools that help advisors identify prospects and generate new business through technology, including social media and other digital channels.
My focus is encouraging, especially our younger advisors, to use those tools early because that’s where the industry is heading. Technology isn’t going away, and adopting it now will help generate long-term growth for both our advisors and our clients.
Marc Lundgren is a Financial Advisor with UBS Financial Services Inc. a subsidiary of UBS Group AG. Member FINRA/SIPC in Ponte Vedra Beach, FL.
Companies engaged in AI typically face intense competition and potentially rapid product obsolescence. These companies are also heavily dependent on intellectual property rights and may be adversely affected by loss or impairment of those rights. Additionally, AI companies typically
invest significant amounts of spending on research and development, and there is no guarantee that the products or services produced by these companies will be successful. Companies that are capitalizing on Innovation and developing technologies to displace older technologies or create new markets may not be successful.
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