NEXT Financial Seen as Ripe for Schorsch’s Next Big Buy
November 5, 2013 By Janet Levaux, ThinkAdvisor Industry expert says the rep-owned IBD could be next in the mogul’s spending spree; meanwhile, lawyers focus on Investor's Cap deal Industry experts say there's plenty of chatter in the independent broker-dealer space about the likelihood that NEXT Financial is next on the “to buy” list of real-estate mogul Nicholas Schorsch. Schorsch leads RCS Capital Corp., which just gobbled up independent broker-dealer Investor’s Capital (ICH), and American Realty Capital, which recently announced plans to buy Cole Real Estate Investments. In September, Larry Roth — formerly head of the AIG-owned Advisor Group of IBDs — became president and CEO of Realty Capital Securities (RCS), owned by Schorsch’s RCAP Holdings. This executive appointment was made on the heels of RCAP’s purchase of another IBD, First Allied Securities, from Lovell Minnick Partners. Talk about a lot...