A real-estate group led by investor Nicholas Schorsch said early Wednesday that they planned to buy independent broker-dealer First Allied Securities from its private-equity owner Lovell Minnick Partners, which has owned a majority stake in the IBD for less than two years.“This brings a whole new dynamic to the broker-dealer world,” said Jonathan Henschen right, president of the recruiting firm Henschen & Associates, in an interview with AdvisorOne. “It’s like in the ’80s when insurance firms were buying broker-dealers, but now maybe its REITs flush with money that will be buying BDs.”

via First Allied’s Surprise Sale to REIT Creates ‘Whole New Dynamic’ for BDs.