NEW YORK CITY—Locally-based RCS Capital Corp. reports it has entered into an agreement to acquire a majority interest in Los Angeles-based Docupace Technologies, a firm that specializes in providing integrated, electronic processing technologies and systems for financial institutions and wealth management firms.

No terms of the transaction were disclosed. RCS Capital is an investment firm expressly focused on the retail investor. RCAP is engaged in the wholesale distribution, investment banking and capital markets businesses, and a research business focused on alternative investments. Nicholas S. Schorsch serves as executive chairman of the board of directors of RCS Capital and also holds CEO and board positions for all of the publicly registered, non-traded investments sponsored by AR Capital. He is also is chairman and CEO of the publicly traded net lease REIT, American Realty Capital Properties, Inc.

“We are pleased to announce this pending investment in Docupace Technologies,” says Michael Weil, RCAP's President. “Docupace is leading the financial services industry's evolution to secure, compliant end-to-end electronic processing, which enables broker-dealers to streamline their workflow with a fully integrated document management technology solution. This synergistic investment provides RCAP with a new, scalable and recurring revenue stream and will allow us to further leverage Docupace's solutions, which are designed to increase efficiency by reducing operational costs and delivering enhanced compliance oversight.”

He continues, “We are confident that the Docupace platform will continue to provide significant benefits not only to our network of financial advisors and their clients, but also to our wholesale distribution business and the broader financial services industry. We look forward to supporting Docupace's strong management team as they continue to provide their growing customer base with industry leading products.”

"The investment from RCAP will provide Docupace with the necessary capital, expertise and resources to further expand its product suite and market share,” says Docupace President and CEO Michael Pinsker. “I am excited about the growth this investment will enable. Docupace is now better positioned than ever to deliver the highest quality workflow systems and services solutions to its current and future customer base. I look forward to working with the entire RCAP team as we continue to develop new products to streamline business processes and grow our business to better serve our customers." Pinsker will remain as president and CEO of Docupace and the firm's management team will continue to lead its day-to-day operations, company officials state.

As part of this investment, RCAP will continue to integrate Docupace products across its broker-dealer network to increase efficiencies and streamline workflow processes, which it expects will drive meaningful cost savings and top-line growth while at the same time supporting Docupace's expansion across the financial industry.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM Digital Member, you’ll receive:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

John Jordan

John Jordan is a veteran journalist with 36 years of print and digital media experience.