Bolton launches Family Office Concierge platform

Bolton Global Capital has launched a new platform that aims to provide a family-office-style service to its network of advisors and clients.

From securing tickets to sold-out events to immigration attorneys, the Bolton Family Concierge platform has been designed to provide its advisors’ clients access to a wide range of professionals and services that go beyond their investment needs, Ray Grenier, Bolton’s CEO, told Citywire.

The new platform was unveiled at the firm’s advisor conference last week and includes a database of more than 200 service providers that have been thoroughly vetted by Bolton’s team, said Grenier.

‘We have also partnered with the best-in-class concierge service providers in Miami and New York City where many clients own properties,’ he said.

‘By being able to offer solutions beyond portfolio management, our advisors can differentiate themselves in the wealth management market.’

The concierge platform is only available to Bolton’s network of financial advisors and can cater to the needs of both their domestic and international clients, he added.

The concierge platform is made up of four units:

  • professional services, including corporate and tax structures and accounting;
  • property management, which includes building contractors, housekeeping and moving specialists;
  • special events, which covers, among others, event planning, personal shopping and booking celebrity entertainment;
  • and premium travel, which includes private transportation, exotic destination booking and emergency medical services.

‘We are constantly expanding the database as our advisors add recommended service providers with which they or their clients have had a positive experience,’ said Grenier.

Recruitment plans

Grenier said that he is aiming to increase his firm’s assets by $1bn by the end of this year so they surpass the $13bn mark by adding new advisor teams to his network.

However, he admitted that recent events had led some advisors to hit pause on their plans to go independent.

‘With the market being down so much it has put the brakes on a bit on recruiting, but we expect to close a few deals this year,’ he said.

‘Last year we grew 23% but this year it has been tougher to add asset value. We still have a robust recruiting pipeline and remain confident on the international space.’

The group recently added an industry veteran from Citi Private Bank to lead its business development efforts. Michael Averett joined Bolton in February and was also named complex manager for its Miami and Weston offices where he oversees close to 50 advisors.

Bolton Global Capital has 115 advisors on its independent network that oversee more than $12bn in client assets.