RCS Capital, the newest megaplayer in the independent B-D space, suffered a series of black eyes and reputational hits in 2014. Now it's clear that the company's bottom line got whacked as well.
RCS, which bought Cetera Financial Group -- one of the advisory industry's largest networks of independent broker-dealers -- at the beginning of last year as part of a series of IBD acquisitions, reported a $122.6 million loss for the fourth quarter ended Dec. 31. That's an almost 100-fold increase from the loss of $1.4 million in the same period last year.
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