Brighton Securities Corp., an employee-owned wealth management firm headquartered in Rochester, N.Y., has agreed to acquire Worth Considering Inc., a registered investment advisor (RIA) with approximately $65 million in client assets that is based in the same city, according to a news release.
Founded in 2011 by CEO David Peartree, Worth Considering's investment approach is built around the use of index-based mutual funds and exchange traded funds (ETFs) designed to efficiently capture market returns.
"Brighton Securities provides a wealth management platform that is rich in talent and resources," Peartree said in the news release. "We are pleased to be combining with a local employee-owned firm that continually strives to innovate and improve the investment experience of its clients."
Brighton Securities CEO Jai Ramachandran said in the news release that Peartree and his team had also built a strong platform, and that he and his firm planned to augment it with best-in-class client services and additional talent.
"Worth Considering's approach to exceptional service and customized asset mixes is complementary to our team's focus on serving the needs of our clients,” he said. “Over the past several years we have tripled in size, and we will need to continue to find new and interesting ways to sustain that growth rate as we strive to double again by 2025."
Upon closing the transaction, the entire Worth Considering team will join the newly-merged company, which will rebrand as registered investment advisor Brighton Securities Capital Management Inc. (BSCM). It will provide investment advisory and portfolio management services to financial advisors and individual clients, while continuing to pursue a strategy of both organic and inorganic growth.
Financial details of the transaction, which is expected to close on July 6, 2021, were not disclosed.
Founded in 1969, Brighton Securities Corporation has branch offices located throughout Upstate New York, Florida, Ohio, North Carolina, and New Mexico.