RCS Capital is rolling out one of the first new investments in its nine and soon to be 11 independent broker-dealers during the first half of this year, says Larry Roth, CEO of Cetera Financial Group. RCS acquired Cetera in the largest deal of its kind last year.
The announcement comes as many Cetera advisors are trying to distance themselves from their parent company founded by former RCS Executive Chairman Nicholas Schorsch. Schorsch is accused of ordering accounting improprieties in RCS sister company, non-traded REIT manufacturer American Realty Capital Corp.
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