As the year comes to a close, it's evident that independent broker-dealers are racking up a bonanza from the sale of alternative investment products, namely nontraded REITs. Question is, have firms learned from past mistakes?
Multiple compliance problems at the clearing firm, which serves about 86 correspondent broker-dealers, has led to an agreement to pay a $1M fine as part of a settlement with Finra.
After pulling back from the hot nontraded-REIT market this year, former REIT kingpin Leo Wells is closing his broker-dealer as the industry continues to shrink. Bruce Kelly has the story.
Real estate investor is joining forces with Chesapeake Energy's former CEO to raise up to $2B.
The $1.7 billion American Realty Capital Healthcare Trust Inc., headed by REIT mogul Nicholas Schorsch, will list its common stock on a national stock exchange in one of the first of what one analyst expects to be up to $20 billion of liquidity events of nontraded REITs over the next two years.
Edward Jones is launching a proprietary fund. The bigger question is why?
Nicholas Schorsch and RCS Capital Corp. continue their blistering pace of broker-dealer acquisitions, announcing the acquisition of Summit Financial Services Group Inc. for $49 million in cash and stock.
John Thomas Financial pulls its registration with Finra; downfall months in the making
IBDs are racking up a bonanza of commission dollars and marketing cash from the sale of alternative investments, namely nontraded REITs. <i>IN</i> senior columnist Bruce Kelly on whether the firms have learned from the sale of fraudulent private placements several years ago.
As the rules of the game change, some give up, others double down.
