RCS Capital Corp. (RCAP) is undertaking a strategic review as a result of the accounting misstatement announced two weeks ago by American Realty Capital Properties, RCAP CEO Michael Weil said Thursday.

Notably, Weil left open the possibility that the company’s retail brokerage unit could be separated from its product wholesaling business.

RCAP and American Realty (ARCP) are both part of the real estate investment empire of Nicholas Schorsch, whose dealings have come under scrutiny after the disclosure of ARCP's accounting misstatements.

Meanwhile, RCAP executives said they expected that broker-dealers who have suspended selling agreements with the firm would reinstate those agreements by year-end.

In response to questions about breaking up the company during a conference call with analysts, Weil said RCAP’s board “will absolutely actively look at all these strategic options that exist. … We have some ideas about what that will entail [as we] work with an independent outside firm in that [strategic] evaluation. We want to give [the board] every opportunity to find the best way to drive this company.”

RCAP sees “incredible value in the retail business,” Weil added, but “we don’t want to say anything ahead of the board having an opportunity to evaluate options.”

In addition, the company said its audit committee, board and management team “remain confident in the company's reported historical financials” back to September 30, 2013, following a review by outside counsel and a forensic accounting firm.

RCAP has also been working with American Realty Capital, the non-traded REIT sponsor and advisor run by Nicholas Schorsch, to review each non-traded REIT that AR Capital sponsors or advises that is sold through RCAP, Weil said.

“This review has been completed and … each of the AR Capital-sponsored and advised public, non-listed products on RCS Capital’s platform will file their 10Qs for the third quarter tomorrow, with no issues and no delays,” Weil said.

Although RCAP reiterated its independence from ARCP, the web of Schorsch affiliations has caused concerns among broker-dealers. Schorsch is also on the board of ARCP and is executive chairman of the board of RCAP. Weil was formerly president of ARCP and executive vice president of AR Capital.