Schwab, Fidelity Stop Sales of Schorsch-Led Nontraded REITs
The custodial firms join a growing number of broker-dealers abandoning American Realty Capital and Cole products after an accounting scandal.
Schorsch Unit Draws State Regulator’s Scrutiny
Massachusetts’ William Galvin begins investigation of Realty Capital Securities’ nontraded REIT sales.
Cambridge Joins Ranks of IBDs Abandoning Schorsch
The group stops sales of three Cole REITs following an accounting scandal at American Realty Capital.
Schorsch’s Own Cetera Halts Cole REIT Sales
ARCP accounting scandal "has tarnished the entire Schorsch brand," consultant Mark Elzweig says, and Cetera parent RCAP is trying to limit the damage.
LPL, Advisor Group Stop Sales of American Realty Capital REITs
LPL, the biggest independent broker-dealer, has suspended sales of products tied to the Schorsch real estate empire.
UBS Adds Merrill Advisor; NPC Recruits 2 Online
Reps move to National Planning Corp. from Ameriprise and LPL via The Advisor Center, an online clearinghouse.
Broker-Dealer INVEST Signs Equity Bank
INVEST currently supports 150 banks and credit unions and 1,100 representatives nationwide.
New Hire Roundup: National Advisors Trust Names New CEO
This week in new hires, James Combs was named CEO of National Advisors Trust Co., and FSI elected two new board members.
FSI Names Derek Bruton, Seth Miller to Its Board
The independent BD association names replacements for Bill Dwyer of LPL and Jim Livingston of National Planning Holdings.
Jackson Launches Two New Thought Leadership Venues for Advisors
Jackson is the most recent company throwing advisors a “thought leadership” lifeline—ideas, strategies and tools advisors can presumably use to build their businesses.