The rise and fall of the notorious owner and CEO of the defunct independent broker-dealer John Thomas Financial is now complete, and senior columnist Bruce Kelly says the industry won't miss him.
Cash and stock deal values the firm, with about 450 independent reps and advisers, at 39.4%, lower than other recent deals.
Firm continues independent broker-dealer buying spree in $24M deal.
A blockbuster lawsuit alleging misconduct by Nicholas Schorsch is one of many issues confronting his vast real estate empire.
Sales of the products may be cannibalizing those of variable annuities.
Investors in a nontraded REIT launched by Tony Thompson, the one-time noted real estate sponsor, were told last week that the net asset value of the REIT had eroded by nearly 30%.
Industry "floored" by allegation that REIT czar had hand in $23 million accounting error at American Realty Capital Properties.
Up to $13.6 billion in fresh equity expected to flow from listings, mergers and special distributions.
Comes on heels of another $200,000 penalty last year for missing a stock-fraud scheme
American Realty Capital Properties Inc.'s former chief accounting officer alleges the ex-chairman ordered numbers to be changed.
REIT czar resigns from RCAP, boards of 11 AR Capital affiliates. New chairman says change allows company to simplify governance, minimize 'perceived' conflicts and cut complexity. (And check out <a href="//www.investmentnews.com/gallery/20141223/FREE/122309998/PH"" target=""_blank"" rel="noopener noreferrer">the triumphs and trials of Nick Schorsch</a>.)
Massachusetts regulator has launched an investigation into Realty Capital Securities, the wholesaling broker-dealer arm of Nicholas Schorsch's nontraded REIT empire. (<b><i>Also: <a href="http://www.investmentnews.com/article/20141105/FREE/141109957/schorsch-remains-confident-in-his-empire" target="_blank">Schorsch remains confident in his empire</a>)</b></i>
Berthel Fisher among firms that have lifted suspension, but others housing 29,000 advisers confirm they haven't.
Nontraded energy BDC provides funds for exploration and drilling.
Finra accused Bambi Holzer of lying to one of her former broker-dealers in sales of Provident Royalties deals. Now she's barred from the securities industry. Bruce Kelly has the story.
Exec honed his listening and peacemaking skills growing up as the third of eight children and those talents have come in handy.
Finra said the firm overbilled more than 20,000 fee-based accounts in its RIA unit by $2.4 million over seven years and ordered it to pay a $350,000 fine.
Mr. Jack helped build the insurer's variable annuities business and independent broker-dealer network.
Two companies in Nicholas Schorsch's REIT empire have settled their dispute as RCS Capital Corp. agrees to pay American Realty Capital Properties to back out of its deal to buy Cole Capital.
IBD organization expresses suitability concerns with regulator's proposed data-collection system and predicts cost of $250,000 to $1 million — with ongoing maintenance above that.
