- The seven advisors chose Bolton following a process that involved firms competing for the teams released after the wirehouse closed its wealth management Offshore arm
- The team manages 1 billion dollars in client assets which it plans to transfer to Bolton Global with BNY Mellon Pershing acting as clearing firm and custodian
- The advisors are Jorge Aguerrevere, Ernesto Amengual, Felix Bosque, Andrei Santos, Rafael Sotillo, Norvin Ulloa and Leonardo Tedeschi
Bolton Global Capital announced this Wednesday that a Wells Fargo team specialized in Latin American and U.S. clientes and based in Weston (Florida) will be moving its business to the firm, according to a statement accessed by Funds Society.
The group of seven advisors chose Bolton following an extensive due diligence process. This involved multiple companies competing for the teams that have been released after the wirehouse announced the closure of its wealth management arm for the Offshore business, as reported by Funds Society.
The team manages 1 billion dollars in client assets which it plans to transfer to Bolton Global with BNY Mellon Pershing acting as clearing firm and custodian. It will be based in Bolton’s offices at the Four Seasons Tower on Brickell Avenue in Miami until suitable office space can be leased in the Weston area, the statement revealed.
The advisors are Jorge Aguerrevere, Ernesto Amengual, Felix Bosque, Andrei Santos, Rafael Sotillo, Norvin Ulloa and Leonardo Tedeschi, and their wealth management business consists largely of servicing ultra high net worth clients based in Latin America and the US.
“We are delighted to have such a well-respected team of professionals affiliate with our company. These advisors have chosen to convert to the independent business model through Bolton because we offer the best value in terms of global platform capabilities, compensation and ownership. Our strategy for continued growth in the international wealth management space is to affiliate with top tier professionals like these, who conduct high-quality business with a reputable clientele", said Ray Grenier, CEO.
Also, the firm expects to recruit other major teams from Wells Fargo’s international division over the next several weeks.