Right now, nobody wants to rule the world. That’s because many countries, including the U.S., are preoccupied with their own governments, said Willis Sparks, director of global macro analysis at Eurasia Group...
The U.S. economic recovery is even stronger than most give it credit for, TD Bank’s top economist said during TD Ameritrade Institutional’s advisor conference in Orlando, Florida today...
The Financial Services Institute on Tuesday outlined its objectives for 2014 and will focus on the DOL’s planned fiduciary proposal and trying to get some protection for advisors over their tax status as independent contractors...
It’s difficult to succeed as an independent rep of a broker/dealer. The business is changing; the regulatory environment is seemingly more onerous, and clients are more difficult to reach. It’s no wonder so many fret about the fact...
In the independent broker/dealer space, margins are incredibly slim and getting slimmer, squeezed as they are by shrinking revenues and rising costs of technology and compliance. But a few IBD executives say they have found a surefire way to boost...
Nicholas Schorsch, head of RCS Capital Corp. (RCAP), just announced two acquisitions in two days—the purchase advisor network Cetera for $1.15 billion in cash and J.P. Turner for $27 million. The deals bring his advisor headcount to 9,225...
Just one day after announcing the acquisition of Cetera, RCS Capital Corp.’s (RCAP) Nicholas Schorsch said he would buy independent broker/dealer J.P. Turner for $27 million. The addition J.P. Turner increases Schorsch’s advisor...
Wealth management unit adds advisors and shows gains while other divisions struggle
RCS Capital Corp.’s Nicholas Schorsch paid one times revenue for Cetera Financial, when IBDs typically sell for 30-40 percent. Did he overpay?
