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Portsmouth Financial Services to become a branch office of leading broker-dealer Arete Wealth Management
Other - MAY 30, 2024

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Portsmouth Financial Services to become a branch office of leading broker-dealer Arete Wealth Management

by Released

Concluding a multi-year search, Portsmouth Financial Services has entered into an asset purchase agreement that will bring approximately 40 advisers and more than $800 million of assets under management (AUM) to Arete Wealth Management, LLC, a full-service broker-dealer and registered investment advisory firm (RIA), subject to FINRA review.

Through a unique Arete Wealth “tuck-in” program, Portsmouth’s owners will operate a branch office of Arete Wealth and retain the Portsmouth name. Portsmouth’s 40 financial professionals will continue to service accounts at Pershing, and Portsmouth clients will gain expanded access to Arete Wealth’s state-of-the-art technology, full-service brokerage capabilities, multi-custodial advisory solutions, electronic insurance and annuity systems, and alternative investment platform.

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