Ceros Financial Services has completed its acquisition of RFS, a division of Rydex Distributors which provides brokerage and custody services to fee-based and hybrid investment advisers
Ceros Financial Services has completed its acquisition of RFS, a division of Rydex Distributors which provides brokerage and custody services to fee-based and hybrid investment advisers.
‘This acquisition is a very exciting opportunity for us. It hastens our growth in the US and establishes us in the business of servicing the growing independent registered investment advisor market, with a group that has earned the respect of the advisor community,’ says Ceros group chairman Markus Ross (pictured). ‘We are looking forward to building on this strong base of providing advisors the services they need to grow their practices.’
Mark Hausman, president of Ceros Financial Services, adds: ‘From the beginning, we were impressed with the way that RFS has partnered with their advisor clientele, listened to their needs and rolled out a very comprehensive platform offering many value-add services. We are now well-positioned to expand to help advisory practices become more efficient.’
Terms of the transaction, which involves approximately USD3bn in assets, were not announced.
Ceros Financial Services, a registered broker-dealer, was established in Boston, Massachusetts in 1994. It is part of the Ceros group, which maintains presences in Frankfurt, Munich and Limburg, Germany; Lucerne, Switzerland; and Istanbul, Turkey, from which it offers brokerage and custody, investment management and mutual fund distribution.
