Firm to offer another way besides public listing for REIT sponsors to provide liquidity to investors.
Regulator wants clarity about Inland American's share value in recent buyback
The independent broker-dealer industry fattened up last year on the sale of nontraded real estate investment trusts. The question hanging over IBDs now is whether advisers are prudently reallocating the money of clients who are invested in nontraded REITs, particularly as the trusts continue to perform well and return capital to investors through listings or mergers.
Derek Bruton, in charge of the 13,600 reps and advisers at LPL Financial, has suddenly resigned. In an SEC filing, the company cited "concerns about Mr. Bruton's interactions with other employees."
LPL Financial has suffered a recruiting slowdown in the first quarter and puts part of the blame on an unusual factor — this winter's rough weather.
Products include nontraded REITs, oil and gas partnerships, BDCs, hedge funds and managed futures.
Arbitration awards have been flat for two years but two big ones looming on the horizon show brokers still grappling with real estate bubble fallout.
Nicholas Schorsch, chief executive of American Realty Capital, this month plans to list shares of two more of the company's nontraded real estate investment trusts, saying the market is 'primed' for real estate offerings.
RCAP sales slow in 1Q but nontraded REIT “freight train” will roll for a decade, Schorsch says. Firm's army of wholesalers raising $40 million of equity a day, a figure that could top $60 million a day by the fourth quarter
RCS Capital continues to expand its reach into financial services, hiring Todd Snyder and John Kearney, widely considered the top due-diligence analysts for alternative investments and nontraded REITs.
