BBB Business Review

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This Business is not BBB accredited

UBS Financial Services Inc.

Additional Locations

Fax: (212) 713-4889 View Additional Phone Numbers 1285 Avenue of the Americas, New York, NY 10019 http://financialservicesinc.ubs.com


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BBB Accreditation

This business is not BBB accredited.

Businesses are under no obligation to seek BBB accreditation, and some businesses are not accredited because they have not sought BBB accreditation.

To be accredited by BBB, a business must apply for accreditation and BBB must determine that the business meets BBB accreditation standards, which include a commitment to make a good faith effort to resolve any consumer complaints. BBB Accredited Businesses must pay a fee for accreditation review/monitoring and for support of BBB services to the public.


Reason for Rating

BBB rating is based on 13 factors. Get the details about the factors considered.

Factors that raised the rating for UBS Financial Services Inc. include:

  • Length of time business has been operating
  • Complaint volume filed with BBB for business of this size
  • Response to 1 complaint(s) filed against business
  • Resolution of complaint(s) filed against business


Customer Complaints Summary Read complaint details

1 complaint closed with BBB in last 3 years | 1 closed in last 12 months
Complaint Type Total Closed Complaints
Advertising/Sales Issues 0
Billing/Collection Issues 1
Delivery Issues 0
Guarantee/Warranty Issues 0
Problems with Product/Service 0
Total Closed Complaints 1

Customer Reviews Summary Read customer reviews

1 Customer Review on UBS Financial Services Inc.
Customer Experience Total Customer Reviews
Positive Experience 0
Neutral Experience 0
Negative Experience 1
Total Customer Reviews 1

Additional Information

BBB file opened: August 01, 1998 Business started: 01/01/1879 Business incorporated: 01/01/1969 in DE
Business Management
Mr. Joseph J. Grano Jr., Chairman
Contact Information
Principal: Mr. Joseph J. Grano Jr., Chairman
Business Category

FINANCIAL SERVICES

Alternate Business Names
UBS Asset Management UBS Warburg
Additional Information

On December 19, 2012, two former UBS traders face criminal charges as part of a sweeping case in which the Swiss bank agreed to pay $1.5 billion after admitting to manipulating global benchmark interest rates.The settlement follows an investigation by regulators and law enforcement officials around the world into the setting of the London Interbank Offered Rate, or Libor, and related interest rates. U.S. Assistant Attorney General Lanny Breuer called it "one of the most significant scandals ever to hit the global banking industry." The payment settles government claims in the United States, the United Kingdom and Switzerland. The bank has agreed to a non-prosecution deal with the U.S. Department of Justice covering all its subsidiaries except UBS Securities Japan, which pleaded guilty to one count of wire fraud. The investigation revealed extensive misconduct stretching from 2001 to 2010 involving at least 45 UBS staff, including senior managers, who sought to influence rates to benefit the bank's trading positions and make it look stronger during the financial crisis. Together with approximately $1 billion in regulatory penalties and disgorgement – $700 million as a result of the Commodity Futures Trading Commission (CFTC) action; $259.2 million as a result of the U.K. Financial Services Authority (FSA) action; and $64.3 million as a result of the Swiss Financial Markets Authority (FINMA) action – the Justice Department’s criminal penalties bring the total amount of the resolution to more than $1.5 billion.

Additional Tradenames, Addresses & Phone Numbers

This firm is owned by Swiss banking corporation, UBS AG which bought Paine Webber in 2000. The company offers full-service securities, investment and brokerage services through its financial advisors, asset and wealth managers and investment bankers located in 40 countries worldwide.

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BBB Customer Review Rating plus BBB Rating Overview


BBB Customer Reviews Rating represents the customers opinions of the business. The Customer Review Rating is based on the number of positive, neutral and negative customer reviews posted that are calculated to produce a score.

Customer Review Experience Value
Positive Review 5 points per review
Neutral Review 3 points per review
Negative Review 1 point per review

BBB letter grades represent the BBB's opinion of the business. The BBB grade is based on BBB file information about the business. In some cases, a business' grade may be lowered if the BBB does not have sufficient information about the business despite BBB requests for that information from the business.
Details

BBB Letter Grade Scale

BBB Rating Value
A+ 5
A 4.66
A- 4.33
B+ 4
B 3.66
B- 3.33
C+ 3
C 2.66
C- 2.33
D+ 2
D 1.66
D- 1.33
F 1
NR -----
Star Rating scale

  Average Score
5 stars 5.00
4.5 stars 4.50-4.99
4 stars 4.00-4.49
3.5 stars 3.50-3.99
3 stars 3.00-3.49
2.5 stars 2.50-2.99
2 stars 2.00-2.49
1.5 stars 1.50-1.99
1 star 0-1.49

BBB Customer Review Rating plus BBB Rating is not a guarantee of a business' reliability or performance, and BBB recommends that consumers consider a business' BBB Rating and Customer Review Rating in addition to all other available information about the business. If the BBB Rating is NR then only Customer Reviews are used for the Star Rating.