8 predictions you can't miss
King of the hill
Bruce Kelly, independent broker-dealers: After a year in which he acquired three prominent independent broker-dealers, American Realty Capital chief executive Nicholas Schorsch will continue to roil the industry with at least one more broker-dealer acquisition. Mr. Schorsch has stressed that the three broker-dealers, First Allied Securities, Investors Capital Corp. and Summit Brokerage Services, will remain truly independent of the arm of his business that packages and sells nontraded real estate investment trusts. The industry will be watching Mr. Schorsch’s every move in 2014, waiting to attack Mr. Schorsch if American Realty Capital floods its newly acquired broker-dealers with ARC REIT products.
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