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Morrison & Foerster represented Wentworth Management Services LLC in its acquisition of Purshe Kaplan Sterling Investments (PKS), an independent broker-dealer with 485 offices in all 50 states.

Morrison & Foerster Advises Wentworth Management in Acquisition of PKS

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MoFo represented Wentworth Management Services LLC in its acquisition of Purshe Kaplan Sterling Investments (PKS), an independent broker-dealer with 485 offices in all 50 states.Wentworth is a holding company that acts as a long-term owner and operating partner for broker-dealers and other firms in the independent wealth management channel. The partnership between Wentworth and PKS will deliver additional balance sheet capabilities and human capital enhancements to PKS, and support future growth activities for the firm.For more information, please see <a target="_blank" href="https://www.prnewswire.com/news-releases/wentworth-acquires-purshe-kaplan-sterling-300566949.html">Wentworth’s press release</a>.The MoFo team was led by corporate associate Dario de Martino (New York), and included corporate associate Stephanie Ference (New York), with regulatory advice provided by of counsel Hillel Cohn (Los Angeles), and partners Jay Baris (New York) and Mark McDonald (Los Angeles). Compensation and benefits advice was provided by partner Domnick Bozzetti (New York) and of counsel Amanda Hines Gold (San Francisco). Employment and labor advice was provided by partner Chris Lyon (Palo Alto), and associate Nicole Elemen (Palo Alto). New York partner Spencer Klein, co-chair of the firm’s global M+A Group, also provided valuable advice.Select media coverage:<ul><li>Albany Business Review: “<a target="_blank" href="https://www.bizjournals.com/albany/news/2017/12/08/albany-broker-dealer-bought-by-manhattan-company.html">Albany Broker-Dealer Bought By Manhattan Company</a>” (December 8, 2017)</li><li>ABL Advisor: “<a href="http://www.abladvisor.com/news/13104/monroe-capital-supports-acquisition-of-purshe-kaplan-sterling-by-oak-spring-holdi" target="_blank">Monroe Capital Supports Acquisition of Purshe Kaplan Sterling by Oak Spring Holdings and Wentworth</a>” (December 6, 2017)</li><li>Financial Planning: “<a target="_blank" href="https://www.financial-planning.com/news/pks-acquired-by-wentworth">More IBD M&A: PKS and its 485 Offices Acquired by Wentworth</a>” (December 5, 2017)</li></ul>