Nicholas Schorsch continues to liven up the direct investment industry. Today, his RCS Capital Corporation announced the creation of a new division, SK Research (SK), which will provide due diligence and intelligence on non-traditional investments.
SK will be lead by Todd D. Snyder and John F. Kearney, formerly of Snyder Kearney LLC, who are well known throughout the direct investment industry for their firm’s work with third party due diligence and frequent research reports.
Collectively, the pair has over 40 years experience evaluating non-traditional investments such as non-traded REITs, BDCs, oil and gas private partnerships, hedge funds, and more.
“Few possess the experience, insight and financial acumen of Todd, John and their team in the alternative investment channel. Attracting them to join RCAP represents an important next step in our previously announced plan to build a market leading, institutional quality research platform. We intend to leverage their knowledge and skill set to help further develop and improve our alternative investment platform, strengthening as well as expanding our capabilities and market presence,” William M. Kahane, CEO of RCAP commented in a statement.
Nicholas S. Schorsch, Executive Chairman of RCAP, added, “We welcome this as a new beginning for developing the research arm of our business. Todd Snyder and John Kearney are two of the most trusted, respected and well-established names in the due diligence business. We believe them to be the gold standard in that arena. We couldn’t be more excited about working with them and their colleagues.”
What does the creation of SK Research mean for RCAP?
Schorsch added, “With these new additions, we expect to become much better positioned to evaluate the alternative investment landscape. More importantly, these additions are intended to elevate RCAP’s entire financial services mosaic by augmenting our back office and investment management capabilities and enhancing the training, education and practice management tools available to our retail advice platform. We believe this will be to the benefit of both RCAP stockholders and the broader community of mass affluent investors who rely on our financial advisors and our investment programs.”
John Kearney added, “We are thrilled to be joining RCAP. Todd and I believe RCAP’s senior management is at the forefront of driving positive change in the industry. We look forward to working together to help bring increased transparency to all of the company’s practices and programs, which has always been a core tenant of RCAP’s ‘Best Practice’ standards. Moreover, we are confident in our ability to help advance management’s plans to develop better training and education initiatives which help both advisors and investors understand and benefit from the programs distributed under the RCAP banner.”
RCAP is the publicly traded holding company that owns Schorsch’s wholesale broker dealer, Realty Capital Securities, LLC. After going public in June of 2013, RCAP began acquiring independent broker dealers with announced purchases of First Allied, Investors Capital Corp, Summit Financial, the Cetera network of broker dealers, and J.P. Turner.