Just when it seemed like Schorsch and his team were slowing down, they strike again, with an unexpected, but logical transaction and announcement.
RCS Capital Corporation (RCAP) announced today the plans to create a crowdfunding investment platform under the name “We R Crowdfunding.”
Also part of the announcement was that RCAP has acquired the assets of New York-based Trupoly, Inc., a white-label investor relationship management portal. The technology acquired as part of this transaction will be integrated into the new crowdfunding platform.
Trupoly’s founder, Ryan Smith, has been hired by RCAP as well as other key executives from his firm.
“We are pleased to be joining the RCAP team and look forward to creating the market leader in direct-to-consumer investment offerings,” said Ryan Smith, Trupoly’s Founder and President in a statement.
Charles Crnoevich, Trupoly’s Head of Sales, and Melanie Eitel, Trupoly’s Client Relationship Manager will also join RCAP.
“’We R Crowdfunding’ looks to the future of securities sales by adding an important element to our full-service retail financial services firm. The crowdfunding investment platform will permit investors, whether working with financial advisors or exploring investment opportunities on their own, to access, investigate and participate in a wide range of offerings from a vast pool of asset classes. We are making a small capital investment at this time to gain access to a significant potential market that we expect to develop over the next several quarters,” commented Michael Weil, RCAP’s President.
“We expect ‘We R Crowdfunding’ to provide investors direct access to public and private offerings, including Regulation A and Regulation D offerings, mutual funds and closed-end fund offerings, in a variety of industries and sectors,” added Mr. Weil.
“We R Crowdfunding” is expected to launch in September 2014.