RCS Capital to acquire Cetera Financial for $1.5B, stock halted

|About: RCS Capital Corporation (RCAP)|By:, SA News Editor

RCS Capital (RCAP) agrees to acquire broker-dealer Cetera Financial Group from Lightyear Capital for $1.15B in cash; shares are halted.

Following the transaction, Cetera will become part of RCAP's retail advice platform, complementing the recent acquisitions of Summit Brokerage Services and Investors Capital Holdings.