Stifel Financial Mulls Buying Wealth Management Unit From B. Riley [Yahoo! Finance]
B. Riley Financial, Inc. (RILY)
NASDAQ:AMEX Investor Relations:
ir.brileyfin.com/investor-relations
Company Research
Source: Yahoo! Finance
Riley Financial to acquire its wealth management business for more than $100 million. This was reported by Reuters, citing a source familiar with the matter. The discussions arise as B. Riley seeks to raise capital following a second-quarter loss warning. Also, the company is facing pressure for its involvement in a management-led buyout of Franchise Group in 2023. Potential Benefits of SF's Acquisition Through this acquisition, SF could gain 400 independent and employee brokers, adding to its existing network of roughly 2,400. This potential buyout aligns with Stifel Financial's CEO Ron Kruszewski's strategy of making opportunistic acquisitions, which has been a key factor in the firm's growth and expansion in the wealth management space. Also, acquiring B. Riley's wealth management unit while the company is under financial pressure will allow Stifel Financial the opportunity to secure an asset at a favorable price. This would enable it to scale up without stretching its fi
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RILY
News
- RILY INVESTIGATION ALERT: Johnson Fistel LLP Investigates B. Riley Financial Directors and Officers for Breach of Fiduciary DutiesGlobeNewswire
- Tecnoglass downgraded at B. Riley Securities on valuation [Seeking Alpha]Seeking Alpha
- B. Riley Securities Advances Capital Structure Advisory Efforts with New Senior HirePR Newswire
- B. Riley gains on report it's in talks to sell wealth management unit to Stifel [Seeking Alpha]Seeking Alpha
- B. Riley broadens coverage on social media stocks with Snap and Reddit initiations [Seeking Alpha]Seeking Alpha
RILY
Sec Filings
- 9/23/24 - Form 8-K
- 8/23/24 - Form 8-K
- 8/16/24 - Form SC
- RILY's page on the SEC website