Field managers at UBS Wealth Management USA have implemented stricter travel and expense budgets in response to company directives to achieve 10% expense reduction targets in each market, as reported by AdvisorHub. 

To align with cost-saving goals, UBS has encouraged its market leaders to obtain pre-approval from UBS's headquarters in Weehawken before covering travel and expense (T&E) costs for advisors. Additionally, UBS has advised managers to discontinue sponsorships of local charities and organizations. 

While advisors typically cover their expenses through a pre-tax business development account funded by a portion of their salaries set aside at the beginning of the year, UBS managers occasionally use the firm's resources to cover costs, particularly for client events.

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