UBS has announced plans to establish a new adviser training hub in Uptown Dallas. The Swiss banking company will lease 26,000 square feet at 23Springs, a 26-story office building located at 2323 Cedar Springs Road. According to a filing with the Texas Department of Licensing and Regulation, UBS expects to spend $5.6 million on the buildout. Construction is scheduled to begin this week and finish by June.
The new office will accommodate approximately 170 employees as part of UBS’s Wealth Advice Center. This center focuses on serving mass affluent clients through both in-person and centralized advisory services. Dallas will be one of four main hubs for this operation across the United States.
This development highlights Dallas’s growing role as a center for financial services—a trend sometimes referred to as “Y’all Street.” Other firms such as Goldman Sachs and Scotiabank have also made significant investments in North Texas, particularly around Uptown and Victory Park areas.
The Dallas location joins previously announced Wealth Advice Centers in Weehawken, New Jersey, and Charlotte, North Carolina. UBS has outlined a three-year growth plan for its business, which includes establishing one hub in each of its four U.S. market regions. Over this period, the firm aims to hire between 400 and 500 additional advisers.
UBS stated that the new facility will expand its presence rather than replace existing offices in North Texas. The company currently occupies two floors at the Crescent in Uptown Dallas with about 70 advisers among roughly 150 staff members. Additional offices are maintained in Plano and Fort Worth, employing around 120 advisers across these three locations; all current offices will remain open.
At 23Springs, UBS joins other tenants such as Bank OZK, Deloitte, and law firm Sidley Austin at the intersection of Maple Avenue and Cedar Springs Road. The building is Uptown’s tallest office tower with a total area of 625,000 square feet and was about 63 percent leased as of August.
The project is a joint venture between Granite Properties based in Dallas and Highwoods Properties from Raleigh, North Carolina.
