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Schorsch partner William Kahane resigns as director of two AR Capital REITs
William Kahane, one of the co-founders of Nicholas Schorsch's AR Capital, resigns as a director from two real estate investment trusts.
Glut of IBDs for sale creating a buyer's market, putting pressure on prices
Black Friday sales come early for buyers of independent broker-dealers as a slew of available firms puts pressure on prices.
Raymond James a potential target for activist investors?
One securities analyst says the brokerag firm, with its rich capital reserves, could be attractive to an investor seeking to boost shareholder value.
S&P's global financial literacy test is out
Breakfast with Benjamin: S&P Rating Services has released its global financial services literacy test, which uses four questions to test understanding of interest compounding, inflation, and risk diversification. How would you do?
Galvin widens investigation into alleged RCS proxy fraud
Massachusetts securities division examining independent broker-dealers that sold RCS alternative investments such as nontraded REITs.
Fidelity, Schwab to halt AR Capital sales
Firms pull the plug after Massachusetts charges RCS Capital with fraudulently rounding up proxy votes to support real estate deals sponsored by AR Capital.
DOL fiduciary rule could decimate number of IBDs
Commonwealth Financial Network managing principal John Rooney says a combination of higher costs and less revenue, thanks to the DOL fiduciary rule, will cause widespread consolidation of independent broker-dealers.
AIG Advisor Group on the block
One of the largest networks of independent broker-dealers in the country recently hired a law firm, which in turn will select an investment bank to begin discussions with interested buyers, according to two sources with knowledge of the company's moves.
Larry Roth takes over helm of RCS Capital Corp.
Industry vet replaces Michael Weil, longtime associate of Nicholas Schorsch.
Cetera suspends sales of AR Capital REITs
Broker-dealer takes action after Massachusetts' securities regulator charged a related company with fraudulently rounding up proxy votes to support real estate deals sponsored by AR Capital.
Nicholas Schorsch's RCAP gets scorched on multiple fronts
Less than two years ago, Nicholas Schorsch compared RCS Capital Corp., the brokerage holding company he founded, to Merrill Lynch and Raymond James Financial Inc., two storied names in the securities industry.
Nontraded REIT sponsors changing compensation for advisers
New share class dubbed a “T share” cuts upfront commission brokers are paid but creates an annual trailing commission.
RCS Capital stock may be delisted from NYSE
Exchange warning on share price comes as Massachusetts securities cop Galvin charges its wholesale brokerage, Realty Capital Securities, with proxy fraud.
Massachusetts' Galvin charges Realty Capital Securities with proxy vote fraud
Massachusetts securities cop alleges the firm, part of RCS Capital Corp., fraudulently rounded up proxy votes to support real estate deals sponsored by Nicholas Schorsch's AR Capital.
Wells Fargo Advisors president Mary Mack pleased with reception from Credit Suisse brokers
Executive sees recruiting opportunity across the country after October recruiting deal struck.