A non-asset-management piece of Rydex
just left the Security Benefit
umbrella. On Wednesday Ceros Financial Services, Inc. revealed
that it has completed its acquisition of RFS
(i.e. Rydex Financial Services). RFS provides brokerage and custody services to fee-based and hybrid investment advisors.
Terms of the transaction, which involves approximately $3 billion in assets, were not made public.
As previously reported
, in the spring Ceros agreed in June to buy RFS from Security Benefit.
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