On August 13, 2014, RCS Capital Corporation (NYSE: RCAP) announced that it had entered into an agreement to acquire San Diego, California-based broker dealer Girard Securities, Inc.
On August 13, 2014, RCS Capital Corporation (NYSE: RCAP) announced that it had entered into an agreement to acquire Girard Securities, Inc. Girard is an independent broker dealer based in San Diego, California and has approximately $10 billion in assets under administration. Girard provides a range of securities brokerage and investment services primarily to individual investors. The firm sells insurance products and also offers asset management and investment advisory services. After the transaction, Girard’s management will remain the same and it will continue to operate under the “Girard” brand. The transaction, coupled with RCS Capital’s recent acquisition of VSR, which we reported on in our 8/8/14 post, will expand its platform of independent financial advisors. The transaction is expected to close in late 2014 or early 2015, subject to regulatory approvals and customary closing conditions.
To read the press release, please click here.