RCS Capital, Inc

RCS Capital, Inc. (formerly NYSE: RCAP) was established as a holding company to build a large-scale network of retail financial advice firms. Through a series of aggressive acquisitions, it became one of the largest independent broker-dealer networks in the United States, with its flagship subsidiary being Cetera Financial Group. The company's business model focused on providing investment banking, capital markets, and wholesale distribution services, alongside a vast retail wealth management platform through its acquired firms. However, following an accounting scandal at a related company, RCS Capital faced significant financial distress, a collapse in its stock price, and ultimately filed for Chapter 11 bankruptcy in January 2016. The company was delisted and its assets were restructured, with Cetera Financial Group emerging as the successor private entity, effectively ending the existence of RCS Capital, Inc.