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Cetera feeling the ‘strain’ of RCAP’s financial woes

February 12, 2016

Court filings from the RCAP bankruptcy proceeding state that Cetera Financial Group’s adviser headcount has fallen 4.3%

Feb 11, 2016 @ 12:50 pm | By Bruce Kelly | Investment News

In a rare public admission of difficulties with its advisers, RCS Capital Corp. in a court filing on Tuesday said that Cetera Financial Group was under “strain” due to RCAP’s significant financial problems.

Court filings from the RCAP bankruptcy proceeding state that Cetera Financial Group’s adviser headcount at the end of last year was about 9,100 financial advisers. That’s down from approximately 9,500 — or 4.3% — from the number of advisers RCAP previously stated was under the Cetera Financial Group umbrella of 10 different broker-dealers.

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Second Annual Blue Vault Broker Dealer Educational Summit 2016
2016 Broker Dealer Educational Summit 2016
May 30, 2016

Best Due Diligence meeting in the industry. No sales pitches, senior level decision makers, meaningful discussions and the Broker Dealer networking sessions were especially useful. Thanks to Blue Vault for raising the bar!