With the New Year, the management of RCS Capital (RCAP)--the beleaguered parent company of theCetera Financial Group of independent broker-dealers--is trying to turn apage on the company’s troubles.

It did so with a bang late-Monday, announcing plans for aChapter 11 bankruptcy filing, the injection ofsome $150 million from key stakeholders, as well as debt andcapital restructuring plans that should allow Cetera to become anindependent, privately held firm.

Shares of RCS Capital did not trade on the first trading day of2016. They closed trading at roughly $0.30 on Dec. 31,significantly off its 2015 high of nearly $13.30.

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Janet Levaux

Editor-in-Chief Janet Levaux has covered the financial markets since 1991, with a focus on financial advisors since 2005. After graduating from Yale and the Johns Hopkins School of Advanced International Studies (SAIS), where she studied global economics, Janet worked as a freelance financial and business writer in Japan, and then as a reporter and editor for Investor's Business Daily and the Bay Area News Group in California. She earned an MBA in 2007 and since then has helped lead key ThinkAdvisor projects like its Neal-Award winning reporting on Ken Fisher, Luminaries awards program and Women in Wealth newsletter.