Schorsch Accused of Fee-Driven Scheme in Investor Lawsuit
Behind the accounting errors that knocked $4 billion off American Realty Capital Properties' market value was a hidden scheme that generated more than $900 million in managers’ fees and bonuses, investors said in a lawsuit against the company.
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New Hampshire wants LPL to pay $3.6 million in a fine, other costs and restitution, following millions LPL already has paid to FINRA and Massachusetts. more »
Heavy fluctuations in stocks have increased in recent years. Here's one solution for advisors and their clients. more »
Retail advice revenue accounted for roughly two-thirds of RCS's total full-year revenue of $2.8 billion, but the company's 2014 loss was almost 100 times greater than in 2013. more »
Latest setback for Schorsch's financial empire as accounting firm steps aside. more »
The latest Schorsch bombshell "makes quality advisors super uncomfortable," says executive recruiter Mindy Diamond. more »
Nicholas Schorsch has resigned from RCS Capital, New York REIT and 11 other non-traded real estate investment trusts and direct investment programs sponsored by AR Capital. more »
Investors have gotten more desperate in their pursuit of yield, reaching for ever-dicier products. What could possibly go wrong? more »
From the family feud that rocked Nicholas Schorsch's REIT and IBD empires to LPL's regulatory lapses and a wealth management crisis sparked by a CEO's private fund, the advisory industry had a healthy share of lowlights in 2014. Here are some of the most memorable. more »
A change in S&P Dow Jones investment classifications has the potential to change both the makeup and the perception of some dividend-focused ETFs. more »
"He clearly wouldn't be walking way [from American Realty Capital] if things were business as usual,” says Aite Group analyst Alois Pirker. “The optics are just not very good." more »
RCS Executive Chairman Nicholas Schorsch and two other top executives resigned from American Realty Capital Properties. more »
ARCP filed the suit after RCS didn't complete an agreed purchase of shares in Cole Capital Partners and Cole Capital Advisors. more »
According to RCS, 51 selling agreements have been reinstated -- but the firm refused to disclose the names of any broker-dealers who have resumed selling its products. more »
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