UBS’s CEO of wealth management, Robert McCann is calling it “Growth Plus”, a new retention program to reward brokers who have been with the firm for more than five years and produce at least $500,000 in annual production starting in 2010.

Forced to compete with MSSB , BofA, Merrill, and Wells Fargo, all of whom are offering significantly more in retention packages, how is this being received? Well, it’s probably too early to say, but speculation from a number of recruiters is that it will be a tough uphill battle.

Matt Ackermann’s insightful reporting in his article USB’s Deal: Too Little, Too Late? for OnWallStreet on Dec 11 has the details. Check it out.