UBS has announced plans to open a new adviser training hub in Uptown Dallas, securing 26,000 square feet at the 23Springs office building located at 2323 Cedar Springs Road. The company will invest $5.6 million in constructing the space, with work scheduled to begin this week and expected completion by June, according to a filing with the Texas Department of Licensing and Regulation.
The new office will serve as part of UBS’s Wealth Advice Center, which focuses on providing advisory services to mass affluent clients through both in-person and centralized methods. About 170 employees will be based at the Dallas location, making it one of four main hubs for the center across the United States.
This development is part of a larger trend that has seen financial firms increasingly choosing Dallas as a base for major operations. Companies such as Goldman Sachs and Scotiabank have also committed to expanding their presence in North Texas, particularly around Uptown and Victory Park.
The Dallas facility follows earlier Wealth Advice Centers established in Weehawken, New Jersey, and Charlotte, North Carolina. UBS has outlined a three-year growth strategy for its advice business that includes setting up one hub in each of its four U.S. market regions. During this period, UBS expects to hire between 400 and 500 additional advisers nationwide.
The addition of the new site does not replace UBS’s existing offices in North Texas. The firm already occupies two floors at the Crescent in Uptown Dallas with about 70 advisers among roughly 150 staff members. UBS also maintains locations in Plano and Fort Worth; across these three sites there are about 120 advisers employed. All current offices will remain operational.
With UBS joining as a tenant, 23Springs adds another prominent name alongside Bank OZK, Deloitte, and law firm Sidley Austin. The building stands as Uptown’s tallest office property with a total area of 625,000 square feet and was approximately 63 percent leased as of August.
23Springs is developed through a partnership between Granite Properties based in Dallas and Highwoods Properties from Raleigh, North Carolina.
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