Bolton continúa su expansión en Nueva York con el fichaje del equipo de Ruben Lerner y Manuel Uranga

Bolton Global Capital anunció hoy que el equipo de Ruben Lerner y Manuel Uranga se ha unido recientemente a la firma. Ambos llegan desde Morgan Stanley, donde han estado afiliados como directores ejecutivos desde 2008. Actualmente gestionan más de 550 millones de dólares en activos.

Su nueva firma, A Plus Capital, tiene su sede en Nueva York, en el número 515 de Madison Avenue, y tienen planeado abrir otra oficina en Miami. Ambos cuentan con más de 30 años de experiencia en la industria trabajando en firmas como Morgan Stanley, Smith Barney o Citigroup Global Markets.

En A Plus Capital continuarán atendiendo a clientes high net worth en Europa, América Latina y Estados Unidos, ofreciendo una amplia gama de soluciones de inversión. Su socio junior Ariel Materin, también de Morgan Stanley, se unirá a la firma para gestionar la incorporación de nuevos clientes, así como la estrategia de inversión.

La custodia de los activos de los clientes se llevará a cabo a través de BNY Mellon Pershing, la mayor empresa de servicios de compensación del mundo. BNY Mellon es la institución bancaria más antigua de Estados Unidos y el mayor custodio global con más de 30 billones de dólares en activos y presencia en 60 países. Bolton proporcionará los servicios de compliance, back office y marketing, así como las tecnologías de wealth management y operaciones al equipo de A Plus Capital.ç

La incorporación del equipo de Lerner-Uranga supone una expansión para Bolton en el mercado de Nueva York. La firma espera agregar más de 850 millones de dólares en activos de clientes administrados por equipos reclutados este año en la ciudad.

Ruben Lerner and Manuel Uranga Join Bolton’s New York Team

Independent broker-dealer Bolton Global Capital has ramped up its expansion in New York City with the addition of Morgan Stanley international advisors Ruben Lerner and Manuel Uranga.

After nine years as managing directors at Morgan Stanley, where they advised on an international client book of $550 million, Lerner and Uranga have launched A Plus Capital, which will be headquartered in Manhattan at 515 Madison Avenue, Bolton has announced.

Junior partner Ariel Materin, client associate Jennifer Ramos and office manager Olga Lopez also join from Morgan Stanley. Materin will manage client acquisition and investment strategy for the team while Ramos will be based in A Plus Capital’s Miami location and Lopez will manage the New York office.

Lerner, originally from Venezuela, and Uranga, from Spain, service clients across Europe, Latin America and the US.

The duo joined Morgan Stanley from Smith Barney, which was then still part of Citi, in 2008 with sales assistants Dolores Alcaide-Mendez and Jennifer Ramos. Alcaide-Mendez remains with Morgan Stanley.

Custody of client assets will be held through BNY Mellon Pershing. Bolton will be providing compliance, back office, and marketing support as well as the wealth management and trading technologies for the A Plus Capital team.

Morgan Stanley confirmed the team’s exit, but declined to comment further.

Bolton’s big plans

The Bolton, Massachusetts-based business is looking to continue to acquire more than $850 million in client assets in New York City market before the end of 2017. It entered the region in May when former HSBC private banker Ethan Assouline joined the broker-dealer.

Over the last two years Bolton had been targeting advisors in Miami, adding international teams that had left wirehouses and private banks due to internal policy changes during that period. It now has over $4 billion in assets under management from non-US resident clients.

Bolton contrata equipo de $550 millones de Morgan Stanley en Nueva York

La corredora de bolsa independiente Bolton Global Capital continuó su expansión en Nueva York con la incorporación de los asesores internacionales de Morgan Stanley, Ruben Lerner y Manuel Uranga.

Después de nueve años como directores ejecutivos de Morgan Stanley, donde asesoraron en una nómina de clientes internacionales por un total de $550 millones, Lerner y Uranga lanzaron A Plus Capital, que tendrá su sede en Manhattan en 515 Madison Avenue, anunció Bolton.

La socia junior Ariel Materin, la asociada de clientes Jennifer Ramos y la gerente de oficina Olga Lopez también se unen de Morgan Stanley. Materin administrará la adquisición de clientes y la estrategia de inversión para el equipo, mientras que Ramos se basará en la ubicación de A Plus Capital en Miami y López administrará la oficina en Nueva York.

Lerner, originaria de Venezuela, y Uranga, de España, prestan servicios a clientes de toda Europa, América Latina y Estados Unidos.

El dúo se unió a Morgan Stanley desde Smith Barney, que seguía siendo parte de Citi, en 2008 con los asistentes de ventas Dolores Alcaide-Mendez y Jennifer Ramos. Alcaide-Ménde sigue en Morgan Stanley.

La custodia de los activos de clientes se llevará a cabo a través de BNY Mellon Pershing. Bolton proporcionará soporte de cumplimiento, back office y mercadeo, así como las tecnologías de administración y trading de patrimonios para el equipo de A Plus Capital.

Morgan Stanley confirmó la salida del equipo, pero se negó a comentar más.

Los planes de Bolton

El negocio con sede en Bolton, Massachusetts, busca continuar adquiriendo más de $850 millones en activos de clientes en el mercado de Nueva York antes de finales de 2017.

Entró en la región en mayo, cuando el ex banquero privado de HSBC Ethan Assouline se unió a la corredora.

Durante los dos últimos años, Bolton había estado buscando asesores en Miami, agregando a los equipos internacionales que habían dejado las grandes firmas y bancos privados debido a cambios de política interna durante ese período. Ahora tiene más de $4.000 millones en activos bajo administración de clientes no residentes en los Estados Unidos.

Bolton continues NYC expansion with $550m Morgan Stanley team

Independent broker-dealer Bolton Global Capital has ramped up its expansion in New York City with the addition of Morgan Stanley international advisors Ruben Lerner and Manuel Uranga.

After nine years as managing directors at Morgan Stanley, where they advised on an international client book of $550 million, Lerner and Uranga have launched A Plus Capital, which will be headquartered in Manhattan at 515 Madison Avenue, Bolton has announced.

Junior partner Ariel Materin, client associate Jennifer Ramos and office manager Olga Lopez  also join from Morgan Stanley. Materin will manage client acquisition and investment strategy for the team while Ramos will be based in A Plus Capital’s Miami location and Lopez will manage the New York office.

Lerner, originally from Venezuela, and Uranga, from Spain, service clients across Europe, Latin America and the US.

The duo joined Morgan Stanley from Smith Barney, which was then still part of Citi, in 2008 with sales assistants Dolores Alcaide-Mendez and Jennifer Ramos. Alcaide-Mendez remains with Morgan Stanley.

Custody of client assets will be held through BNY Mellon Pershing. Bolton will be providing compliance, back office, and marketing support as well as the wealth management and trading technologies for the A Plus Capital team.

Morgan Stanley confirmed the team’s exit, but declined to comment further.

Bolton’s big plans

The Bolton, Massachusetts-based business is looking to continue to acquire more than $850 million in client assets in New York City market before the end of 2017.

It entered the region in May when former HSBC private banker Ethan Assouline joined the broker-dealer.

Over the last two years Bolton had been targeting advisors in Miami, adding international teams that had left wirehouses and private banks due to internal policy changes during that period. It now has over $4 billion in assets under management from non-US resident clients.

Morgan Stanley, Merrill Teams Jump to Indie Firms in NY and AZ

Two sizable wirehouse brokerage teams this week announced their move to so-called independent firms, with one citing more restrictive retirement account policies at their old firm as motivation for the move.

In New York City, Ruben Lerner and Manuel Uranga joined Bolton Global Capita from Morgan Stanley, where they said they were managing $550 million for wealthy clients in Europe, Latin America and the U.S.

Lerner is a Venezuelan native who was with Morgan Stanley and its Smith Barney predecessor for almost 15 years, while Uranga, who hails from Spain, was with the firms for almost 19 years.  They arrived at Morgan Stanley with some fanfare in July 2008, just months before it announced its joint venture with Smith Barney.

Operating at Bolton under the firm name A Plus Capital, they and two associates will custody with BNY Mellon Pershing and have offices in Manhattan and Miami, where Bolton has been aggressively picking up brokers from wirehouses increasingly wary of doing business with foreign-based clients.

A spokeswoman for Morgan Stanley confirmed the departures but declined further comment.

Bolton expects to add a total of $850 million to accounts this year from brokers hired in New York City, said Ray Grenier, chief executive of the Bolton, Mass.-based firm. That includes assets that Lerner and Uranga attract from their former clients, as well as money from another team hired earlier this year and from a third group who currently manages $300 million who are expected to join in the fourth quarter.

Separately, lifelong Merrill Lynch broker Sharon Barton and her business partner Jay Spector formally announced their affiliation with registered investment advisory firm Stratos Wealth Partners and LPL Financial. The Scottsdale, Ariz., team said they were managing $311 million of client assets at Merrill, according to a news release from LPL.

Stratos, which is based in Beachwood, Ohio, oversees some $4.2 billion split among more than 100 investment advisers, and utilizes LPL’s “hybrid” platform for RIAs and brokers.  Barton and Spector, who have been with Merrill for 31 years and five-and-a-half years, respectively, left Merrill for Stratos at the end of July, according to their BrokerCheck records.

“Continued business and culture changes were limiting our ability to support our clients,” Barton said in a prepared statement. She fingered Merrill’s relatively restrictive approach to retirement account offerings as the last straw.

“The implementation of the Department of Labor ultimately became the impetus for us to make the move to the independent model so we could have what we needed to operate our business successfully and in the best interest of our clients,” she said.

Even though the Trump Administration has delayed the effective date of enforcing the new retirement-account rule’s enforcement provision and indicated it may retract enforcement, Merrill has gone further than many of its competitors in prohibiting brokers from offering commission-based retirement accounts that could violate so-called best-interest contracts that may take effect in 2019.

A Merrill spokeswoman did not respond to a request for comment.

LPL, for its part, rubbed upped proverbial salt in Merrill’s early-mover decision.

“For Sharon and Jay, who are committed to investor choice and their firm’s continued growth, LPL offers investment solutions designed to maintain choice for their clients,”  Steve Pirigyi, the independent broker-dealer’s executive vice president of business development said in the news release.

LPL permits its affiliated brokers to sell commission-based retirement account investments but has imposed some restrictions on compensation, mutual fund custody and products to comply with the DOL rule.

Bolton Continues Expansion in NYC with Addition of Morgan Stanley Team

Bolton Global Capital is pleased to announce that the team of Ruben Lerner and Manuel Uranga have joined the firm. They have been affiliated with Morgan Stanley as managing directors since 2008 and currently manage a book of $550 million.

Their new firm, A Plus Capital, is headquartered in New York City at 515 Madison Avenue and will have an office in Miami.  With over 30 years in combined industry experience with Morgan Stanley, Smith Barney and Citigroup Global Markets, the partners will continue to service high net worth clients in Europe, Latin America and the US, offering a broad range of investment solutions. Their junior partner Ariel Materin, formerly of Morgan Stanley, will also be joining A Plus Capital to manage client acquisition, as well as investment strategy.

Custody of client assets will be held through BNY Mellon Pershing, the world’s largest clearing firm. BNY Mellon is oldest US banking institution and the largest global custodian with over $30 trillion in assets, doing business in more than 60 countries. Bolton will be providing compliance, back office, and marketing support as well as the wealth management and trading technologies for the A Plus Capital team.

Mr. Uranga holds a Masters in Economics and Business Administration from CUNEF (Colegio Universitario de Estudios Financieros) in Spain. Mr. Lerner holds a Masters in Business Administration from Boston University and a Bachelor of Finance degree from Universidad Metropolitan in Venezuela. Mr. Materin graduated from Drexel University with a Bachelor in Business Administration.

The addition of the Lerner Uranga team represents a continued expansion by Bolton into the New York City market. The firm expects to add more than $850 million in client assets managed by teams recruited this year in New York City market.

$650 Million AUM Advisor Joins Bolton

Bolton Global Capital is pleased to announce that Euclides Moreno has joined the firm’s Miami office. Mr. Moreno held the position of Managing Director with Merrill Lynch where he worked for the past 17 years. He has built a successful international wealth management practice with $650 million in client assets and $6.4 million in annual revenues. He was among the top producers in Merrill Lynch’s international wealth management complex in Miami.

Mr. Moreno will be operating his business under the name: The Moreno Wealth Management Group Client accounts will be held and maintained through BNY Mellon Pershing, the world’s largest clearing firm. BNY Mellon is the oldest banking institution in the US founded by Alexander Hamilton in 1784 and is the world’ largest custodian with more than $30 trillion in assets held in custody. Through the BNY Mellon Pershing platform, The Moreno Wealth Management Group will have access to markets and exchanges in more than 65 countries and can service their clients on a global basis.

Bolton will provide back office, compliance and technical support to the Moreno team. Through Bolton’s independent business model, financial advisors acquire better ownership and control of their book and are provided with turnkey solutions to set-up, brand and run their businesses with all of the capabilities, services and products of the major wirehouses and private banks. Financial advisors also capture a substantially higher share of the revenues generated from their businesses. Many of the largest teams at the major banks and wirehouses have transitioned to the independent business model over the last few years. Nine teams from the major firms with over $1.5 billion in client assets transitioned to Bolton last year.

“We are proud to have such a top notch professional affiliate with our organization and we look forward to supporting the continued growth of his business.” stated Ray Grenier, CEO of Bolton. Mr. Moreno is a graduate of Babson College in Wellesley Massachusetts. He holds the CIMA designation, awarded by IMCA in conjunction with the Wharton School at the University of Pennsylvania. Prior to joining Merrill Lynch in 2000, he worked in his family’s banking business in Venezuela. He lives Cocoplum with wife Sandra, sons Carlos Alfredo, Juan Diego and daughter Silvana.

Bolton Global Capital has been a broker dealer and FINRA member firm for 32 years with over $6 billion in client assets and 40 branch offices across the US. The firm’s SEC Registered Investment Advisor operates under the name Bolton Global Asset Management.

Bolton Global Capital
579 Main Street
Bolton, MA 01740
(800) 649-3883

Bolton hires $650m ex-Merrill advisor

Senior international financial advisor Euclides Moreno, head of one of Merrill Lynch Wealth Management’s top Miami teams, has left after 17 years with the firm, Citywire Americas can reveal.

According to sources familiar with the situation, Moreno is in talks to join an independent broker-dealer.

Moreno’s group at Merrill Lynch manages over $800 million and has produced around $8 million annually, according to a source. It is understood that the remaining members of the seven-strong Moreno Wealth Management Group team have not resigned and continue with Merrill.

Merrill Lynch declined to comment on the departure.

Moreno joined Merrill Lynch in 2000 and advised both US and non-US clients, with a focus on Venezuela. Moreno’s exit follows that of a number of teams who’ve left Merrill Lynch since July 2015 after it refocused its non-resident client business and added a number of restrictions and requirements to its client onboarding process.

While Venezuela falls within the range of 29 countries Merrill Lynch still services, prospective clients in this country must invest a minimum of $5 million to meet new requirements. They would also have to visit their international advisors at least once a year in the US.

Merrill’s revamp has allowed for international broker-dealers and RIAs such as Bolton Global Capital, Investment Placement Group, Global Investor Services to earn a bigger slice of the international advisory pie since these change were announced. They’ve also benefited from large private banks like Credit Suisse and RBC moving out of this space.

However, just last week Merrill recruited Leon Friedlander, who also specializes in advising Venezuelan clients, from Morgan Stanley.

While the wirehouse saw a number of exits in the 18 months after its initial changes, the firm has been selectively recruiting and has announced two hires in the last two months.

Euclides Moreno se une a Bolton Global

Bolton Global Capital ha sumado al equipo de su oficina de Miami a Euclides Moreno, quien mantendrá la denominación “The Moreno Wealth Management Group” con la que ya operaba anteriormente. Moreno ejercía de managing director en Merrill Lynch liderando una práctica con 650 millones en activos de clientes internacionales, que suponía 6,4 millones en ingresos para la firma, y un equipo de siete profesionales.

En esta nueva etapa, los activos de los clientes serán custodiados por BNY Mellon Pershing, plataforma a través de la cual tendrán acceso a mercados de 65 países, mientras que Bolton proveerá el back office, compliance y apoyo técnico al equipo de Moreno.

“Estamos muy orgullosos de que otro de los mejores profesionales se una a nuestra firma y estamos deseando apoyar el continuo crecimiento de su negocio”, declaró Ray Grenier, CEO de Bolton. La oferta de Bolton ya atrajo el año pasado a nueve grandes equipo de los principales bancos y broker dealers, lo que resultó en la transferencia a la plataforma de un total 1.500 millones en activos.

Antes de unirse a Merrill Lynch, firma a la que ha estado ligado durante 17 años, Moreno trabajó en el negocio bancario de su familia en Venezuela.

Por Qué los Asesores se Reinventan Como Independientes

Este último año, Bolton Global, uno de los 50 mayores broker dealer independientes de Estados Unidos, ha visto cómo su equipo de asesores financieros ha crecido sustancialmente en todo el país,y especialmente en Miami, una plaza importante en la industria del wealth management internacional. La firma ha ido anunciando sus últimas incorporaciones que, a su vez, han servido de llamada para otros asesores contemplando, o en proceso de, un cambio.

Entre noviembre de 2015 y diciembre de 2016, la versión digital de Funds Society ha publicado una serie de nuevas incorporaciones a la firma, entre ellas The Perez Group, Eduardo Robson, Daniel Aymerich, Soraya Batista-Gracía, Eddie Moreno,  Alex Astudillo, Ángela Canas, Tanya Duarte y Archivaldo Vásquez, Felipe Ballestas, Oscar Guevara, Samuel Nunez, Ricardo Morean, Christian Felix, Henrique Pinheiro y Diogo Scelza. En esta ocasión, hemos querido hablar con Ray Grenier, CEO de Bolton Global, para descubrir las claves del irresistible modelo de esta firma.

Bolton Global es uno de los 50 mayores broker dealers independientes de Estados Unidos, con más de 32 años de historia y 45 sucursales, Cuyos ingresos y activos bajo gestión por asesor financier en active lo sitúan entre las firmas independientes líderes del país. En el último año, Bolton Global ha visto como  más de 15 asesores con clients internacionales se han unido a su plataforma, muchos de ellos en Miami.

Pero, qué explica este éxito. La primera pregunta para el CEO de Bolton Global es clara: ¿Por qué los asesores financieros eligen ligarse a Bolton Global?

“No contamos Con un equipo de captación de FAs, hemos crecido fundamentalmente mediante el boca a boca”. Su major herramienta para captar nuevos equipos de financial advisors son los propios FAs que ya trabajan en Bolton, que les refieren a otros equipos con activos de calidad y amplia experiencia. “Un equipo contento y que cuenta con todo el apoyo de la organización para desempeñar su trabajo es el mejor embajador para atraer nuevo talento a la firma”, dice Ray Grenier.

“Nuestra plataforma permite a los FAs establecer su propia marca, el equity en sus cuentas de resultados y generar ingresos netos ustancialmente mayores,después de los gastos. Ofrece soluciones llave en mano para crear un modelo de negocio independiente, desarrollar la marca y el logotipo de la compañía, la página web y material promocional, para configurar la infraestructura de la oficina y plataformas tecnológicas,así como soluciones para capacitar al personal. También proporcionamos todo el respaldo administrativo de cumplimiento normative y supervisión para procesar el negocio de manera eficiente y efectiva, de acuerdo con las reglas y regulaciones de la industria”, explica Grenier. “A Través de Bolton, los FAs tienen acceso a todas las capacidades, productos y servicios disponibles a través de los principals wirehouses y bancos privados”, resume. Se trata de asesores que, en el 90% de los casos, se unen a Bolton después de una exitosa experiencia en alguno de los grandes broker dealers estadounidenses, cuyas carteras superan los 100 millones de dólares y cuentan con una experiencia professional de más de 15 años en la industria. En su mayoría son ciudadanos estadounidenses o profesionales que cuentan con los pertinentes visados para residir en el país, aunque la enseña también cuenta con varios asesores de inversion afiliados que operan desde otros mercados con capacidades registradas plenas.