Another advisor team has left UBS for NewEdge Wealth.

Muzaffar (Mark) Ahmed and Justin Reese join NewEdge in Manhattan Beach, California, according to the firm.

Ahmed entered the financial services industry in 1991, Reese entered in 2006, and each joined UBS in 2012 from Merrill Lynch, according to their BrokerCheck profiles.

Reese’s team at UBS managed $260 million as of August 3, according to Forbes.

Earlier this year, NewEdge lured a team of UBS advisors overseeing $1.4 billion and another UBS advisor team overseeing $1.6 billion.

Stamford, Connecticut-based NewEdge Wealth, which was founded in December 2020, caters to ultra high net worth, family office and institutional clients and now also has offices in Florida, Utah and Pennsylvania.

The firm is a division of NewEdge Capital Group, which oversees a total of $30 billion across multiple business lines and supports more than 300 financial advisors, according to the firm.

NewEdge Capital Group, is the wealth management unit of EdgeCo Holdings, which has more than 600 employees managing a total of more than $150 billion in wealth and retirement assets, the company says.