Independent Broker-Dealers

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  1. Articles

    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.

  2. Articles

    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.

  1. Articles

    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?

  2. Articles

    Galvin widens investigation into alleged RCS proxy fraud

    Massachusetts securities division examining independent broker-dealers that sold RCS alternative investments such as nontraded REITs.

  3. Articles

    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.

  4. Articles

    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.

  5. Articles

    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.

  6. Articles

    Larry Roth takes over helm of RCS Capital Corp.

    Industry vet replaces Michael Weil, longtime associate of Nicholas Schorsch.

  7. Articles

    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.

  8. Articles

    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.

  9. Articles

    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.

  10. Articles

    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.

  11. Articles

    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.

  12. Articles

    RCS Capital plans to post $307M loss for the third quarter

    Brokerage firm previously controlled by Nicholas Schorsch expects to have third-quarter loss due to impairment of goodwill and intangible assets.

  13. Articles

    TD Ameritrade CEO Tomczyk to retire, be replaced by TD Bank exec Tim Hockey

    Longtime banker rose through the ranks in Canada and will move to New York.