{"id":5575,"date":"2014-01-18T00:00:00","date_gmt":"2014-01-18T06:00:00","guid":{"rendered":"https:\/\/institutionalinvestorsecuritiesblog.blawgcloud.com\/2014\/01\/rcs_capital_corp_to_buy_broker"},"modified":"2022-07-22T08:50:26","modified_gmt":"2022-07-22T13:50:26","slug":"rcs-capital-corp-to-buy-broker","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/rcs-capital-corp-to-buy-broker\/","title":{"rendered":"RCS Capital Corp to Buy Brokerage Firm J.P. Turner for $27 Million & Cetera Financial for $1.15B"},"content":{"rendered":"\n

Nicholas Schorsch, the executive chairman of RSC Capital Corp.\u2019s (RCAP) board of directors, has just announced that the brokerage firm is going to buy independent broker-dealer J.P. Turner for $27 million. The news comes one day after RSC announced it was buying brokerage firm Cetera Financial Group for $1.15 billion from Lightyear Capital LLC.<\/p>\n

To acquire J.P. Turner, RSC Capital will pay 70% of the buying price in cash and the remainder in stock. This will add 325 advisers to the RSC\u2019s roster. <\/p>\n

RSC\u2019s CEO is William Kahane. He co-founded American Realty Capital, a non-traded real-estate investment trust sponsor, with Schorsch, of which the latter is the head. Schorsch entered the independent brokerage scene last year when he acquired Legend Group, First Allied Securities, Investors Capital Holding, and Summit Brokerage Services. <\/p>\n

Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

Nicholas Schorsch, the executive chairman of RSC Capital Corp.\u2019s (RCAP) board of directors, has just announced that the brokerage firm is going to buy independent broker-dealer J.P. Turner for $27 million. The news comes one day after RSC announced it was buying brokerage firm Cetera Financial Group for $1.15 billion from Lightyear Capital LLC. To […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3752],"tags":[],"class_list":["post-5575","post","type-post","status-publish","format-standard","hentry","category-financial-firms"],"yoast_head":"\nRCS Capital Corp to Buy Brokerage Firm J.P. Turner for $27 Million & Cetera Financial for $1.15B — Investor Lawyers Blog — January 18, 2014<\/title>\n<meta name=\"description\" content=\"Nicholas Schorsch, the executive chairman of RSC Capital Corp.\u2019s (RCAP) board of directors, has just announced that the brokerage firm is going to buy — January 18, 2014\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.investorlawyers.com\/blog\/rcs-capital-corp-to-buy-broker\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"RCS Capital Corp to Buy Brokerage Firm J.P. 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