UBS Hired a Bernstein Team Managing $1.4 Billion in Los Angeles

By Intersection Advisory · Advisor Moves

Published: August 31, 2026

Category: Advisor Moves

Pasha E. Azad, Dayne L. Crist, Steven Summerhays, and Koby Dardashti joined UBS Wealth Management USA from Bernstein Private Wealth Management and are practicing as Lumina Wealth Partners in Los Angeles. UBS's own announcement is dated August 28, 2026, and Azad's BrokerCheck report shows his UBS registration effective that day. A source familiar with the move told AdvisorHub the team produced $11.5 million in annual revenue and managed $1.4 billion in combined assets. WealthManagement.com reported the same production figure and described assets as over $1.4 billion under management. Those are source and trade-press phrasings, not a custody update of assets already sitting at UBS, and this draft does not collapse "combined assets" of $1.4 billion and "over $1.4 billion" into a single finer number.

Who arrived with them, and where did they land?

AdvisorHub said the team includes four support staff, citing an announcement. WealthManagement.com named them. UBS's team page and its August 28 welcome note name the same four, with small spelling differences: Lexie Kamran (Kate Daniels's LinkedIn welcome used Alexandra Kamran), Ryan Siroky, Alex Day, and Nicholas Horn (the UBS news note also spells the last name Nicolas Horn).

| Person | Title on the UBS team page |

| --- | --- |

| Pasha Azad | Managing Director, private wealth advisor |

| Dayne Crist | Managing Director, private wealth advisor |

| Steven Summerhays | Senior vice president, financial advisor |

| Koby Dardashti | Account vice president, financial advisor |

| Lexie Kamran | Senior wealth strategy associate |

| Ryan Siroky | Senior wealth strategy associate |

| Alex Day | Senior registered client associate |

| Nicholas Horn | Registered client associate |

The office on Azad's BrokerCheck report, and on the UBS team page, is 2000 Avenue of the Stars, 12th Floor South, Los Angeles, California 90067. UBS said the advisors joined the Los Angeles market led by regional director Lauren Gorsche, market executive Michael McVicker, senior market director Kate Daniels, and associate market executive Cate Park. AdvisorHub and WealthManagement.com both describe a Century City office that opened the prior year and houses around, or more than, 225 people from private wealth, wealth management, and the investment bank.

Kate Daniels, senior market director for Los Angeles Private Wealth Management, said in a statement carried by AdvisorHub: "Their arrival comes at an exciting time for UBS in Los Angeles, as our new space brings together colleagues and capabilities from across the firm to help us address the increasingly complex needs of our clients." The sentence is about the office. It does not say how many Lumina clients will use it.

What does each firm say the practice actually does?

UBS's welcome note says Azad specializes in entrepreneurs, founders, artists, entertainers, and multigenerational families, including wealth from businesses, technology, concentrated equity, intellectual property, and creative careers. It says Crist works with business owners, corporate executives, athletes, and entertainers on liquidity events, business sales, and periods of accelerated wealth creation, and it identifies him as a former starting quarterback at Notre Dame. Summerhays's UBS bio cites a finance degree from Notre Dame and a background as a professional athlete. Dardashti's bio cites a finance degree from the University of Texas at Austin and a focus on entrepreneurs, professional athletes, business owners, and entertainers. WealthManagement.com summarized the same client set and said the team specializes in business sales and other liquidity events, investment strategy, philanthropy, and generational wealth transfer.

Those descriptions are the receiving firm's marketing of the practice. They are not an asset-mix breakdown of the $1.4 billion.

What do the registration records say about tenure?

Azad's BrokerCheck report, CRD 5907312, shows a UBS Financial Services registration, broker and investment adviser, starting August 28, 2026, and a prior broker registration with Sanford C. Bernstein & Co. from April 2011 to September 2026. He passed the Series 7 on April 22, 2011. The Form U4 employment history lists AllianceBernstein from July 2010 to August 2026, with the position field "Senior Private Client Associate," and UBS from August 2026 as managing director. Position labels on a U4 can lag a later title, so that Bernstein line should not be read as his role on the day he left. AdvisorHub wrote that Azad started at Bernstein in 2001, citing BrokerCheck. The current BrokerCheck report for this CRD number does not show a 2001 registration. It shows the 2011 Series 7 and the April 2011 Bernstein broker registration. WealthManagement.com's description of a 15-year Bernstein tenure lines up more closely with a 2011 start than a 2001 start does. This draft uses the report, not the 2001 summary.

AdvisorHub, citing BrokerCheck, said Crist started at Northwestern Mutual in 2014 and moved to Bernstein the following year. WealthManagement.com said Crist had been at Bernstein for the last 11 years, Summerhays for seven, and Dardashti for five. This draft did not pull those three BrokerCheck reports, so those tenures stay attributed to the outlets that published them. Eleven years from 2015 to 2026 is consistent with AdvisorHub's "following year" account for Crist. The seven-year and five-year figures are WealthManagement.com's alone.

A Bernstein spokesperson declined to comment, AdvisorHub reported. The same story said Bernstein Private Wealth, part of AllianceBernstein, had $167 billion in assets under management as of June 30. That is the division. It is not Lumina's book.

What makes a Bernstein-to-UBS move different from a wirehouse-to-wirehouse move?

AdvisorHub noted that UBS has been willing to recruit from private banks and from wealth units inside asset managers, and that those moves can be harder because clients are more closely tied to the firm and advisors often face garden leave and non-solicitation limits. The same piece said UBS hired two Bernstein teams with $1.7 billion combined in 2023, and that two of those advisors were later enjoined and ordered to pay their former employer around $334,000 in a non-solicitation dispute. That is prior litigation, reported by AdvisorHub. It is not a prediction about Azad, Crist, Summerhays, or Dardashti, and it is not a description of any case filed over this August move. No story reviewed here reports a client count, a portable-asset estimate, or a lawsuit.

AdvisorHub also noted other Bernstein departures that are not this team: a $2.2 billion Houston team that joined NewEdge Wealth earlier in August, and a $1.4 billion Bernstein team in that city that left in December. Putting those books in the same total as Lumina would double-count other people's clients.

UBS's Los Angeles hire is a data point on the firm's private-wealth build, which is the subject of the [UBS firm-watch page](https://intersectionadvisory.com/research/firm-watch/ubs). Registration-level confirmation of the August 28 date is the sort of item [Advisor Pulse](https://intersectionadvisory.com/pulse) is for. How often private-wealth teams inside asset managers move to a wirehouse, as opposed to another asset manager or an RIA, is a channel question the [Crossroads report](https://intersectionadvisory.com/crossroads-report) can hold without treating $1.4 billion as assets already transferred.

Sources

- https://www.advisorhub.com/ubs-snags-11-5-million-bernstein-team-in-los-angeles/ — Karmen Alexander, August 31, 2026: source figures of $11.5 million and $1.4 billion combined assets; four support staff; Daniels quote; Century City headcount; Bernstein division assets of $167 billion as of June 30; 2023 non-solicitation outcome; other Bernstein team departures

- https://www.wealthmanagement.com/wirehouse-news/ubs-adds-14b-team-from-bernstein-to-la-office — Diana Britton, August 31, 2026: "over $1.4 billion" and $11.5 million; named support staff; client focus; tenure descriptions of 15, 11, 7, and 5 years

- https://www.ubs.com/us/en/wealth-management/financial-advisor-experience/news/articles/lumina-wealth-partners.html — UBS announcement dated August 28, 2026: names, Los Angeles market leadership, practice descriptions, support-staff names

- https://advisors.ubs.com/lumina/meet-the-team.htm — UBS team page: titles, Century City address, bios

- https://files.brokercheck.finra.org/individual/individual_5907312.pdf — Pasha E. Azad, CRD 5907312: UBS registration August 28, 2026; Bernstein broker registration April 2011–September 2026; Series 7 date; employment history