RCAP's Crowdfunding Site: A Smart Move?

Plus, the company says it has the industry expertise investors want in a crowdfunding platform, noting that RCAP and its subsidiaries have raised over $20 billion of investment capital in net lease properties, health care facilities, New York real estate, hotels and other sectors.

"Through We Are Crowdfunding, we believe RCAP is positioned to lead the crowdfunding revolution," said RCAP President Michael Weil, in a statement. "Unlike many platforms, We Are Crowdfunding connects investors to advisors, streamlines the qualification process, provides access to educational and independent research materials, and offers a wide range of options and investment minimums."

Industry experts agree that it does seem like a natural fit for RCS Capital.

"This seems like the obvious synergy between the traditional RCAP business of real estate investments and its newly acquired independent broker-dealer firms," said Chip Roame, head of Tiburon Strategic Advisors, in an interview. "Plus, they acquired other alternatives firms, so it's real estate plus other alts through IBDs."

It's hard to see a negative in the strategy, noted Elzweig, since the platform is "bringing in well-heeled investors willing to take risks."

But as Roame pointed out, every new strategy involves risks.

"I see this as akin to the strategy Advanced Equities Financial Corp. followed when it offered access to alt investments through IBD reps. It's a differentiator. Now, Advanced Equities ultimately gave up."

The scope of Advanced Equities' alternatives business—late-stage private equity finance for tech companies—was much narrower than that of RCAP, so this isn't an apples-to-apples comparison. (Calls to RCAP were not returned as of press time.)

And, interestingly enough, a brokerage firm that was split off by Advanced Equities—First Allied—is now part of RCS Capital. Lessons from that experience, then, may have been learned.