The Next Rung
By Dan Jamieson
April 1, 2015 Financial Advisor
After last year’s frenetic merger activity, together with strong equity markets and a competitive recruiting environment, independent broker-dealers are recommitting to organic growth. They’re also making plans to reinvent themselves for the next generation of advisors and investors, by building practice-management and consulting services, addressing the challenge of planning for succession and beefing up their technology—even by coming up with some robo-like offerings.
Last year, the industry was fixated on the rampant merger activity of real estate investor turned broker-dealer player Nicholas Schorsch and his RCS Capital Corp. (RCAP), which purchased Cetera Financial Group.
That changed in the wake of an accounting scandal late last year at Schorsch’s American Realty Capital Properties.
