CityWire Americas - May 8, 2023
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The US group has reached an agreement Nicolas Seigal’s new advisory firm to grant the Montevideo-based firm access to its platform.
Bolton Global Capital has expanded its presence in Latin America after partnering with a recently launched wealth manager in Uruguay, the group announced Monday.
The independent broker-dealer and RIA has joined forces with Main Street Capital Asesor de Inversiones, a Uruguayan firm founded by former Morgan Stanley Miami-area complex manager Nicolas Seigal earlier this year.
Main Street Capital is based out of Montevideo’s free trade business zone Zonamerica that allows advisory groups to provide offshore wealth management services. His group offers independent financial advisors in Uruguay the opportunity to build and grow their business by providing them with resources to cater to their clients’ investment needs, according to the announcement.
‘Partnering with Bolton enables Main Street Capital to enter the dynamic LatAm wealth market from a regional hub like Uruguay, with a broad range of investment services and wealth management capabilities that cater perfectly to high net worth clients,’ said Seigal, director of Main Street Capital.
‘This partnership provides an opportunity for independents to create and leverage their own brand and business, with all the support they require to succeed.’
The deal will give Main Street Capital access to Bolton’s platform capabilities which include multi-custodial options to service high and ultra-high net worth clients, advanced technologies to provide a full range of wealth management capabilities and turnkey office solutions, the group said.
‘This new alliance constitutes an important growth opportunity for Bolton in Uruguay, a market where Bolton already enjoys a strong position through several other partnerships with Uruguay-based firms. By signing this agreement with Main Street Capital, we are looking forward to working with a professional of Nicolas’ caliber,’ said Ray Grenier, CEO of Bolton Global Capital.
Bolton had four other advisor partner firms in Uruguay, a spokesperson told Citywire.
Main Street Capital founder Seigal previously worked at Morgan Stanley Wealth Management as complex manager for its Coral Gables branch from 2015 until his departure in February 2022, as reported by Citywire. He has also held senior roles at RBC Wealth Management and Merrill Lynch in Miami.