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A complaint that Schorsch instructed ARCP executives to shift numbers in the company’s second-quarter results to cover up errors from the first quarter is part of a defamation suit against ARCP, Schorsch and former ARCP Chief Executive David Kay, according to The Wall Street Journal.
High-performing firms are almost twice as likely to effectively describe target client profiles to clients and centers of influence.
"He clearly wouldn't be walking way [from American Realty Capital] if things were business as usual,” says Aite Group analyst Alois Pirker. “The optics are just not very good."
From the breakthrough performance of 'robo advisors' to Schorsch's big grab, the advisory industry has seen major changes in 2014. Here's a look at the most important events and trends pushing the industry forward this year.
The resignation comes in the wake of the apparent suicide in October of David Zier, Convergent's chief executive.
Where did the wealthiest people in the world -- those with at least $30 million in net assets -- go to school? Here's a ranking of the top universities by number of ultrawealthy alumni.
The firm beefs up its Salt Lake City presence toward the end of a year that's seen a doubling of both advisors and assets.
Clients of advisors who custody with Fidelity will have free access to LearnVest's "financial wellness" educational content.
A new UBS/Wealth-X report reveals where the ultrahigh-net live, how they made their money and what they need now.
According to RCS, 51 selling agreements have been reinstated -- but the firm refused to disclose the names of any broker-dealers who have resumed selling its products.
New tech-driven startups have upended the financial advice market. Now they just have to get through the coming shake-out.
"Most advisors are struggling to grow their businesses in a way that is directly impacting their bottom line," says FPA CEO Lauren Schadle. So what are firms that are growing doing right, and what should other advisors be doing differently?
The Atlanta-based IBD, which offers advisory firms both a broker-dealer and a fee-based RIA multi-custodial platform, is closing in on a record $20 million in new revenues this year.
The 3-year old branding campaign has raised awareness among the CFP Board's target market of mass affluent investors by 6%, to the point where nearly one-third of that audience recognizes the CFP brand.
"There's not one thing [RCS] is not willing to look at," CEO Michael Weil said in response to a Wall Street analyst's question about breaking the company apart.
Nicholas Schorsch's expanded financial advisory business reported adjusted net third-quarter income of $35.5 million on Thursday, but revenue was driven by higher retail and investment management results.
At least two firms appear to be trolling for damaging information about RCS Capital, Nicholas Schorsch's embattled financial services company.
Goss Wealth Management hopes to become a super-OSJ, expanding eastward from Louisiana along the Gulf Coast and into the Florida Panhandle.
A deal with Strategic Wealth Partners, outside Chicago, was Focus's sixth of the year, bringing in $1.4 billion.
"The world has shifted from outbound to inbound marketing techniques," Craig Faulkner, founder of FMG Suite, says at Schwab Impact.