Schorsch vows to keep First Allied independent

06/18/2013 | InvestmentNews (free registration)

First Allied Securities will remain a fully independent operation after its acquisition, including no prospect of special products for First Allied reps, promises Nicholas Schorsch. "Some people think we're trying to buy distribution [with First Allied], and I think that's just silly. I've had two calls in the past couple of days with 300 broker-dealers that sell our products, and I have a selling agreement with 370. That's why I don't need more distribution," Schorsch said.

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