Pursuit Of Monied Investors Drives Holding Co.'s Broker Buy

Law360, New York (June 13, 2013, 3:10 PM EDT) -- A holding company led in part by American Realty Capital CEO Nicholas Schorsch will acquire retail brokerage First Allied Holdings Inc. as it pursues more direct relationships with high-net-worth investors, the parties said Wednesday.

Schorsch, who is also the CEO and chairman of holding company RCAP Holdings LLC, said in a statement that the deal to acquire the retail brokerage and financial services firm is part of a strategy of following the retail market's shift toward direct relationships between high-net-worth investors and their independent advisers....
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