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Alternative Assets  + Direct Investment  + Financial Advisory  + SPACs  + Wealth Management  |  January 4, 2023
Industry Veteran Larry Roth Named Executive Chairman at New Firm After SPAC Merger
Joe Palmisano
By: Joe Palmisano

Industry Veteran Larry Roth Named Executive Chairman at New Firm After SPAC Merger

Special purpose acquisition company (SPAC) Kingswood Acquisition Corp. is acquiring broker-dealer Wentworth Management Services, paving the way for the combined company to be publicly traded under the parent company name, Binah Capital Group.

In conjunction with the acquisition, financial industry veteran and former CEO of AIG Advisor Group and Cetera Financial Group Larry Roth has been named executive chairman of Binah.

Roth has more than 30 years’ experience as an operator, dealmaker, strategic advisor and entrepreneur in the wealth management space. He is the founder and managing partner of private investment firm RLR Strategic Partners. He will remain in his position at RLR.

Wentworth is a consolidator of retail wealth management businesses that owns and operates four broker-dealers located in 535 offices in all 50 states. Wentworth’s firms employ 1,900 registered financial advisors.

Wentworth President Craig Gould will serve as Binah’s CEO, and David Shane, a former chief financial officer of Sanctuary Wealth, will be CFO.

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Inside The Story

Wentworth Management ServicesKingswood Acquisition Corp

About Joe Palmisano

Joe Palmisano is editorial director of Connect Money, where he oversees daily coverage of alternative assets, direct investments, financial advisory and the economy. He brings three decades of experience as a financial journalist, analyst and portfolio manager. Before joining Connect Money, Palmisano wrote for The Wall Street Journal, covering foreign exchange, global fixed-income and equity markets. He later served as a senior research analyst and portfolio manager, producing market analysis and managing foreign exchange and U.S. equity portfolios for FX Concepts. His work has also appeared in SFO Magazine and CMT Association publications. Palmisano earned a bachelor’s degree in finance from The American University and holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.
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