RCS Capital To Buy VSR Group

(RTTNews) - RCS Capital Corp. (RCAP) Wednesday said it agreed to buy VSR Group Inc. and its subsidiary VSR Financial Services Inc. The transaction is expected to close in late 2014 or early 2015, subject to regulatory approvals.

Overland Park, Kansas-based VSR has over $12.3 billion of assets under administration and 264 producing independent financial advisors. The acquisition is estimated to generate $112 million revenues in 2015.

Michael Weil, President of RCAP, commented, "This transaction underscores our commitment to expanding the scope and depth of our financial services platform by acquiring top-tier independent broker-dealer platforms."