RCS Capital Corporation has entered into an agreement to purchase the San Diego, CA-based independent broker-dealer Girard Securities, which has over $10 billion of assets under administration and 250 financial advisors.

RCS Capital Corporation has entered into an agreement to buy the San Diego, CA-based independent broker-dealer Girard Securities, which has over $10 billion of assets under administration and 250 financial advisors.

Upon completion of the Girard acquisition, together with the recently-announced purchase of VSR Group, RCAP will have over 9,700 independent retail advisors in its US network.

Girard provides securities brokerage and investment services primarily to individual investors. It sells insurance products, including variable and fixed annuities and life insurance. Girard also offers, through its SEC-registered investment advisor subsidiary and US network of independent financial advisors, asset management and investment advisory services.

Girard will continue to operate under its current management and brand.

The transaction is expected to close in late 2014 or early 2015 and is subject to certain regulatory approvals and other customary closing conditions.

Upon the close of the transaction, Girard will join the other firms that make up RCAP's independent retail advice platform known as Cetera Financial Group, which includes Cetera Advisors, Cetera Advisor Networks, Cetera Financial Institutions, Cetera Financial Specialists, First Allied Securities, The Legend Group, Investors Capital Corporation, J P Turner & Company, and Summit Financial Services Group, and, following the closing of a pending acquisition, VSR Group.

Yesterday, Cetera Financial Group announced a raft of developments to support its network of broker-dealer firms - see here.