RCS Capital is following through on its promise to launch a research division with the hiring of two non-traded investments analysts.
Todd D. Snyder and John F. Kearney, providers of investment research, analysis and due diligence services in the non-traded investment sector, will head SK Research, a new division for RCAP, which will become the nation's second largest independent-broker dealer by advisor count once recent acquisitions are completed. The new research heads arrive from Snyder Keamey and have more than 40 years of combined experience.
The move comes as part of a previously announced initiative to launch a new division of the firm's research platform, dedicated to alternative investment programs, RCAP announced on Monday.
Even if the initiative makes " zero dollars" its worth the investment, Nicholas Schorsch, executive chairman of RCAP, said when he told editors of Financial Planning about the firm's research plans in February.
Schorsch said the research platform would "increase confidence and decrease risk" for clients and advisors at RCAPs retail division, which includes the recently acquired Cetera Financial Group and J.P. Turner, along with First Allied Holdings, Investors Capital Holdings and Summit Financial Services Group.
We welcome this as a new beginning for developing the research arm of our business, said Schorsch in a statement. "These additions are intended to elevate RCAPs entire financial services mosaic by augmenting our back office and investment management capabilities and enhancing the training, education and practice management tools available to our retail advice platform. We believe this will be to the benefit of both RCAP stockholders and the broader community of mass affluent investors who rely on our financial advisors and our investment programs.
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