By Robert H. Rex, Esq.
In January 2014, RCS Capital Corp. announced the acquisition of Cetera Financial Group, a large independent broker-dealer headquartered in El Segundo California, for $1.15 billion in cash. RCS is headed up by Nicholas Schorsch who has been on an acquisition binge for the past year announcing the following acquisitions:
- Hatteras Funds Group, October 2013
- Investors Capital Holdings, October 2013
- Summit Financial Services, November 2013
- Cetera Financial Group, January 2014
- J.P. Turner & Co., January 2014
These acquisitions, when complete will move RCS into the second place spot in independent brokerage firms, behind leader LPL Financial.
Rex Securities Law represents individuals seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about your investment account, contact us to speak with an experienced securities attorney.
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