Wentworth Management Services has acquired New Jersey-based RIA firm Aurora Private Wealth for an undisclosed sum.
This is Wentworth’s fifth acquisition and is part of the company’s plan to build options for independent financial advisors.
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
Founded in 2015, Aurora Private Wealth operates as a hybrid RIA/independent broker-dealer. The company was founded by Tim Smith and is based in Rockaway, New Jersey.
Aurora is expected to add $616m in assets under management with RIA to Wentworth books.
The acquisition is expected to have minimal effect on daily Aurora operations. Additionally, the deal will enable Smith and his team to offer its clients with an expanded range of Wentworth resources.
Wentworth CEO Ryan Morfin said: “Tim Smith and his team at Aurora have built a solid firm and together we intend to grow the platform firm to the next level.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData“We are deeply committed to the hybrid, open architecture model that allows breakaway brokers to build their businesses at the clearing firms that they choose.
“Aurora has a strong and long-lasting relationship with Pershing and we are very excited to open up this new chapter in Wentworth’s development.”
Established in 2016, Wentworth Management Services operates as a special purpose vehicle to acquire and hold interests in broker dealers.
Currently, it owns and operates two broker dealers with more than 1,320 financial advisors and 535 offices across all US states.
Some of the platform companies that it owns include Purshe Kaplan Sterling, Independent Planners Group (IPG) and Cabot Lodge Securities.
