Brokerage giant is expanding its lineup of proprietary mutual funds for its 12,000 brokers and financial advisers a year and a half after the firm launched its first fund.
Legacy Wealth includes two partners who formerly worked at Gibralter Private Bank and Trust of Coral Gables, Fla.
The ongoing woes of Cetera's parent company, RCS Capital and inflated sale prices expected to deter deals among independent broker-dealers. </br><b><i>(Plus: <a href="//www.investmentnews.com/section/specialreport/20150118/IBDREPORT2015"" target=""_blank"" rel="noopener noreferrer">Don't miss our full 2015 Top IBD special report</a>)</b></i>
Director William Kahane, founding partner of Nicholas Schorsch's AR Capital, remains on the board.
Says New York REIT has too much executive and board overlap with AR Capital.
Michael Ezzell resigned on Thursday after months of turmoil at the REIT specialist. He is the latest in a number of Cole personnel to leave the firm.
Broker-dealer built by Nicholas Schorsch nearly doubled first-quarter loss from a year ago, thanks to weakness in the wholesale distribution of investment products.
$150 million acquisition adds about 730 advisers and independent reps managing more than $20 billion in client assets to the St. Louis firm run by Ron Kruszewski.
Information will help advisers evaluate current offerings in $20 billion industry.
Completes purchase of Girard Securities, the second independent broker-dealer acquisition in as many weeks
