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Accounting fiasco highlights tangled web behind Nicholas Schorsch's empire
In the wake of accounting problems at American Realty Capital Properties Inc., the rest of Nicholas Schorsch's empire has drawn scrutiny for its complexity.
SAC Capital's Steven Cohen increases stake in RCAP
Billionaire's family office is boosting its holding in RCS Capital Corp. to 5%, according to regulatory filings.
Nicholas Schorsch's RCS Capital could be facing major changes
RCAP may remake itself to boost value with stock down 39% since late October
James Lebenthal, who sold muni bonds to masses, dies at 86
Through ads, many of which he starred in, the salesman shared his belief that tax-free bonds were a sound investment.
RCAP sales slow down in wake of ARCP accounting fiasco
RCAP sales slow down in wake of ARCP accounting error, although the firm is optimistic activity will return as B-Ds resume selling its nontraded real estate investment trusts.
Fidelity, Pershing, Schwab join suspension of Schorsch REITs
The clearing and custody giants have followed B-Ds by suspending sales of nontraded REITs controlled by Nicholas Schorsch, presenting another potential blow to the real estate czar's business.
JPMorgan unwinds B-D clearing biz
Fidelity Investments stands to reap the benefits as JPMorgan Chase & Co. unwinds its legacy Bear Stearns broker-dealer services clearing and custody unit.JPMorgan said it had chosen Fidelity's National Financial Services unit as the “preferred clearing provider” for its broker-dealer customers and
LPL picks up $520 million hybrid firm from Wells Fargo
Goss Wealth Management switched firms as it hopes to build out a 'wirehouse lite” in the Gulf South region
Broker-dealers slap a stop order on Nicholas Schorsch's REITs
B-Ds halting sales of Schorsch's REITs include some of the largest and most influential in the industry
Brokerage firms and mutual fund companies need better training for complex products
Companies must heed the gentle warnings being given to them by Finra and the SEC on complex investments.
Massachusetts regulator Galvin investigating Schorsch B-D
Massachusetts regulator has launched an investigation into Realty Capital Securities, the wholesaling broker-dealer arm of Nicholas Schorsch's nontraded REIT empire. (Also: Schorsch remains confident in his empire)
Cambridge joins list of IBDs suspending sale of Schorsch REITs
Cambridge joins list of independent broker-dealers suspending sales of Cole REITs; firm says it is waiting for 'more clarity' before deciding next step.
Schorsch is confident in his empire
Says company has started the healing process; expects full recovery may “take some time.”
Schorsch's B-D network won't sell some of his REITs
Nicholas Schorsch's own broker-dealer joined the wave of B-Ds bailing out of the REIT czar's products.(Also: Schorsch's RCAP to investors: 'We're not ARCP.')
With stock off sharply, Schorsch's RCS Capital says 'We're not ARCP'
Both companies controlled by the REIT czar but broker-dealer not involved in accounting trouble at American Realty Capital Properties.