As Cetera Splits From RCAP, Will Its Advisors Split, Too?
January 5, 2015
By Janet Levaux
Industry observers say the spinoff could make Cetera more attractive to buyers down the road
Some 9,000 independent advisors affiliated with the Cetera Financial Group, along with plenty of industry watchers, are digesting the news that the firm is being separated from its troubled parent company, RCS Capital (RCAP) – which on Monday announced plans to file for bankruptcy and restructure its operations.
“For sure, some of the Cetera advisors must be stunned,” said Mark Elzweig, a New York-based executive search consultant, in an interview with ThinkAdvisor. “I have to believe that many of these advisors were expecting a private-equity group … waiting in the wings, based on the latest industry rumors.”
RCAP said Monday,
