{"id":2620,"date":"2017-01-17T00:00:00","date_gmt":"2017-01-17T05:00:00","guid":{"rendered":"http:\/\/silverlaw.lawblogger.net\/blog\/cetera-closes-vsr-financial-services\/"},"modified":"2018-10-08T12:38:30","modified_gmt":"2018-10-08T16:38:30","slug":"cetera-closes-vsr-financial-services","status":"publish","type":"post","link":"https:\/\/www.silverlaw.com\/blog\/cetera-closes-vsr-financial-services\/","title":{"rendered":"Cetera Subsidiary VSR Financial Services Closing; Transferring Brokers to Other Firms in Cetera Network"},"content":{"rendered":"<\/p>\n

Cetera Financial Group subsidiary VSR Financial Services, Inc. (CRD# 14503)<\/a> is winding down and transferring some of its brokers to other Cetera Financial Group broker-dealers.<\/p>\n

VSR is one of Cetera Financial Group\u2019s (\u201cCetera\u201d) many independent brokerage firms<\/a>. \u00a0Cetera was acquired by Nicholas \u201cNick\u201d Schorsch\u2019s RCS Capital in 2014 in an acquisition spree used to create a selling network for RCS Capital\u2019s products, including numerous business development companies (\u201cBDCs\u201d) and non-traded REITs<\/a>.\u00a0 Many of Cetera\u2019s brokerage firms operate under Cetera Advisor Networks, LLC (CRD# 13572)<\/a>, a list of which can be found here<\/a>.<\/p>\n

According to some sources, the move is part of an ongoing plan to evade RCS Capital\u2019s<\/a> poor reputation.\u00a0 VSR will be the second firm under the Cetera umbrella to be shut down if it can beat Investors Capital Corp. (CRD# 30613)<\/a>, which is also part of Cetera\u2019s Financial Group and expected to also be closed or consolidated in the coming months.\u00a0 J.P. Turner & Company, L.L.C. (CRD# 43177)<\/a>, shuttered in 2015, was the first Cetera subsidiary broker-dealer to close.<\/p>\n

Continue reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

Cetera Financial Group subsidiary VSR Financial Services, Inc. (CRD# 14503) is winding down and transferring some of its brokers to other Cetera Financial Group broker-dealers. VSR is one of Cetera Financial Group\u2019s (\u201cCetera\u201d) many independent brokerage firms. \u00a0Cetera was acquired by Nicholas \u201cNick\u201d Schorsch\u2019s RCS Capital in 2014 in an acquisition spree used to create […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[578,594],"tags":[105,106,261],"class_list":["post-2620","post","type-post","status-publish","format-standard","hentry","category-all-releases","category-real-estate-investment-trusts","tag-cetera-advisor-networks","tag-cetera-financial-group","tag-vsr-financial-services"],"yoast_head":"\nCetera Subsidiary VSR Financial Services Closing; Transferring Brokers to Other Firms in Cetera Network — Securities Arbitration Lawyers Blog — January 17, 2017<\/title>\n<meta name=\"description\" content=\"If you've lost money investing with VSR Financial Services or any other Cetera-owned brokerage firm, contact our firm to learn how you can try to recover.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.silverlaw.com\/blog\/cetera-closes-vsr-financial-services\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Cetera Subsidiary VSR Financial Services Closing; 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