Ricardo Sucre had been at the wirehouse for around 10 years and is joining a ‘top producing team’, according to a Bolton announcement.
Bolton Global Capital has recruited another international advisor from Morgan Stanley Wealth Management.
Ricardo Sucre has joined the independent RIA and broker-dealer’s office in Miami where he will work alongside a ‘top producing team’ of advisors, including Ernesto Amengual, Leonardo Tedeschi and Jorge Aguerrevere, according to a Bolton announcement.
A 30-year industry veteran, Sucre had been at Morgan Stanley for almost a decade where he ran a $200m book of business for ultra-high net worth clients based in Latin America, Bolton said.
He is the fifth international advisor to join Bolton from the wirehouse over the past year and the first advisor to join the group’s Miami office since the hire of Doug Flaherty, Bolton’s chief growth officer and head of advisor recruitment.
‘As a consummate professional, Ricardo will undoubtedly continue along the same the path of success with the support of Bolton’s robust international wealth management capabilities. We are delighted that he is joining our firm,’ said Bolton’s CEO Ray Grenier.
Prior to joining Morgan Stanley in 2014, Sucre worked at Mercantil Commercebank where he held senior positions in private banking, treasury sales management and investment services.
Bolton is one of the wealth management firms that has been most actively recruiting international advisors from Morgan Stanley over the past 18 months. Since last summer, Bolton has hired five advisors teams from Morgan Stanley with total client assets, including Sucre’s book, of around $1bn.
The firm’s other recent recruits include Ivan Palacino, $100m advisor Sergio Sotolongo, 17-year industry veteran Eduardo Cadenas, and $300m Miami-based advisor Ernesto Cucalon.
Since the start of 2023, around 60 of Morgan Stanley’s international advisors have left for rivals such as UBS, Insigneo, Bolton and Raymond James, among others.
Among the main reasons for their departure has been new client account restrictions imposed by the wirehouse, which includes raising minimum requirements for accounts coming from Panama and Bolivia, among others.
