Wentworth acquires hybrid managing $2.7 billion

Wentworth acquires hybrid managing $2.7 billion
Aurora Private Wealth is based in Rockaway, N.J.
DEC 11, 2019
Wentworth Management Services, a New York-based broker-dealer holding company, has acquired Aurora Private Wealth, a Rockaway, N.J.-based hybrid managing $2.7 billion. The terms of the deal, which is subject to regulatory approval, were not disclosed. [More: RIA M&A in 2020 to look a lot like 2019: Fidelity's Canter] In addition to Aurora, Wentworth's financial companies include Purshe Kaplan Sterling, a broker-dealer headquartered in Albany, N.Y.; Independent Planners Group, an insurance general agency in Scottsdale, Ariz.; and Cabot Lodge Securities, a New York securities firm. Aurora will continue to use Pershing as its clearing firm, Wentworth said in a release. [Recommended video: Bob Oros said HighTower is likely to start buying smaller firms, too]

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