What’s Next For Nick Schorsch?
By Dan Jamieson March 3, 2014,Financial Advisor Can Nick Schorsch really pull off his plan to create a new major player in the independent broker-dealer space? The industry is watching intently as the firm Schorsch controls, RCS Capital Corp., begins the arduous task of putting together what will be one of the biggest players among independents—with more than 9,000 advisors and around $200 billion of client assets. Publicly traded RCS Capital (RCAP) boldly staked its claim as a major independent firm in January when it agreed to buy Cetera Financial Group with its nearly 6,700 advisors and $145 billion in client assets, quickly followed by another deal, for J.P. Turner ($4.3 billion in assets and 325 advisors). Those acquisitions followed earlier purchases of First Allied Securities, Investors Capital Holdings and Summit Financial Services, all...