B. Riley Financial is an established financial services firm that provides diversified advisory services for businesses. The company started small and grew to a parent company of multiple subsidiaries, delivering comprehensive financial products and services for its clients. If you're not yet familiar with B.Riley Financial, it's wise to learn about its benefits for comparison with other financial services providers. It's also a potential for inclusion in diversifying investment portfolios. Here are twenty things you didn't know about B. Riley Financial to bring you up to speed.
1. B. Riley Financial is a solid organization
Crunchbase confirms that B.Riley Financial is entering its 50th year in business as of 2022. It's an established financial services provider that has been in business for nearly five decades. As such, it has earned a solid reputation and expanded into multiple segments of the financial products and services industry. It's a trusted name in the business.
2. B. Riley Financial serves wealthy clients
B.Riley Financial serves clients with exceptionally high net worth through the B. Riley Wealth Management arm of the company. It was previously known as MK Capital Advisors, run by a multi-family office focusing on the needs of families and individuals with the highest net worth. This division of B. Riley is assigned to this exclusive group of clients. It focuses on their needs and the requirement to deliver top-notch services that help maintain its prestigious reputation.
3. B. Riley Financial is a diverse company
B. Riley Financial appears in listings across three sub-categories of the finance sector. The broad category is Finance, also broken down into the Financial Services category. It is a Business Development company. It's because of the financial solutions the organization provides to help businesses further develop their organizations with capital for growth, expansion, valuation, asset management, investment, and other products and services related to business.
4. B. Riley Financial uses complex technologies to power its website
The B.Riley Financial website is a portal to learn more about the company before contacting a representative. The site actively uses 28 technologies. They power its website to ensure a smooth and seamless experience for visitors and users. The technologies get distributed across 26 technology products and services. Some services are jQuery, HTML5, Google Analytics, Google Font API, iPhone Mobile Compatible, and Viewport Meta.
5. B. Riley Financial has a high IT budget
The Budget for B. Riley Financial's IT department is high. In addition to spending on technicians and staff, the cost of technology products and services is high because of the scaling of company size. For 2022, B.Riley Financial has allotted $91.6 million to ensure that the website and other networking functions continue to work with perfection. It's an essential service for modern businesses offering mobile and internet access to products and services.
6. B. Riley Financial stands out from its competitors
B.Riley Financial has a lot of stiff competition in the financial services industry, but it's taken measures to ensure that it stands out from the crowd. It's done by securing two registered trademarks in the insurance: financial affairs category. The trademarks legally protect the intellectual property of the company. They further ensure that none of its competitors may use them without infringing on trademark rights.
7. Traffic to the B. Riley Financial website is increasing
The analytics report for the B. Rile Financial website shows that traffic to the website has grown over the past thirty days. The average number of monthly visits has grown to 27,071, reflecting a monthly visits growth of 21.45 percent over previous months. The B. Riley Financial website is ranked 723,633. The figure is of the millions of websites registered on the world wide web. The data confirm that tens of thousands of people interact with the website each month.
8. B. Riley Financial is the most popular in the United States
B. Riley Financial is an American company, so it's no surprise that it is the most popular in the United States. Eighty-three percent of the web traffic is from visitors in the country, with a 14.15 percent monthly visits growth. Eight percent of the web traffic is from Canada. It shows a 51.54 percent monthly visits growth rate. Four percent is from the Russian Federation, three percent from China, and one percent is from India. This information is essential for decision-makers to understand where the highest level of interest appears in the products and services offered by the business. It is used in strategic planning sessions to determine where more marketing is needed and where they're doing okay.
9. B. Riley Financial has a dozen members in its executive leadership team
The executive leadership team at B. Riley Financial has twelve members. Dan Shribman is the chief investment officer. Todd Sims is the president. Kenny Young is also president. Philip Zanone is the chief operating officer. James Parris is president of wealth management. Bryant Riley is the chief executive officer and the chairman of BRF. Stephen Bonnema is the chief administrative officer. James Parrish also serves as vice-chairman. There are two more executives on the team.
10. There is one member on the board of directors for B. Riley Financial
The sole member of the board of directors for B. Riley Financial is Mikel Williams. he joined the board in October 2015. He is the president and chief executive officer of DDi. He currently serves on one board in an advisory role. Williams provides his expertise in financial and strategic planning matters, offering advice to key decision-makers within the B. Riley Financial executive teams.
11. B. Riley Financial is a publicly-traded organization
You can find B. Riley Financial stocks on the public stock exchange. Stock is on the Nasdaq stock exchange under the ticker symbol RILY.B B. Riley participated in two post-IPO debt fundraising rounds. It raised a total of $459.5 million in the rounds. The latest closing was on December 3, 2021.
12. B. Riley Financial acquired National Holdings Corporation
B.Riley Financial's strategic plan for expansion involves making acquisitions. The B. Riley Financial website confirms that the company acquired National Holdings Corporation, a publicly-traded corporation under the Nasdaq ticker symbol NHLD in a merger that made National a wholly-owned subsidiary of B. Riley Financial. It is now an affiliate of the B. Riley Wealth Management branch. The acquisition added an estimated 700 representatives to work with clients with $20 billion in assets. The previous figures show that before the merger, the Wealth Management arm of B. Riley had 170 advisors with $12 billion in assets. The deal expanded the Wealth Management division exponentially.
13. B. Riley Financial acquired FocalPoint Securities, LLC in 2022
PR Newswire reports that BRF announced its acquisition of FocalPoint Securities in January 2022. FocalPoint is a Los Angeles, California-based investment bank with a 20-year history of successful financial services and $17 billion in closed transactions. The new member of the BRF family provides financial restructuring, unique situation transactions, mergers and acquisitions, and private capital advisory services. Its focus is on industrials, aerospace and defense, healthcare, consumer, and media/telecom/technology industries because of their high growth posturing within the financial services market. The purpose of the merger is to enhance the accuracy and speed of complex deals while maintaining top-quality services. BRF continues to improve and expand its product and services in the financial arena to achieve end-to-end coverage for its clients.
14. B. Riley Financial acquired United Online
BRF announced the acquisition of United Online, Inc on May 4, 2016. The cost of the Type B acquisition was $170 million. United Online is an online consumer products and services business. It's in Woodland Hills, California. Street Insider confirms that B. Riley Financial agreed to a merger for the acquisition of United Online, listed on the Nasdaq stock exchange under the ticker symbol UNTD for $11 per share and $48 million in cash. The acquisition diversifies the B.Riley adding internet services under its preview. It's an investment opportunity that took Riley into new territory.
15. B. Riley Financial acquired FBR & Co.
BRF acquired a full-service investment banking company called FBR & Co., announcing the deal on February 21, 2017, and closing the deal on June 1, 2017. The price of the merger was $160.1 million. It made FBR & Co a subsidiary. The agreement terms were a stock purchase for the Arlington, Virginia company. Other services from FBR & Co include asset management, trading and research, and institutional sales. The completion of the merger further expanded the financial services and the territorial reach of B. Riley Financial in line with its overarching expansion strategies.
16. B. Riley Financial acquired Wunderlich Securities
B. Riley announced its intention to acquire Wunderlich Securities on May 17, 2017. The deal cost an estimated $67 million. Advisor Hub confined that the acquisition closed on July 7, 2017, for an increased price of $72 million. Wunderlich brought an estimated $10 billion in assets under management to the BRF platform. Acquisition terms included cash and stock as payment to close the deal. Wunderlich Securities is in Memphis, Tennessee. The merger increased BRF's staff of independent contractors, employees, and brokers by 200 bodies.
17. B. Riley Financial acquired GlassRatner Advisory & Capital Group
Biz Journals reports the acquisition of the GlassRatner Advisory & Capital Group by B.Riley Financial. They announced the deal on August 1, 2018. The acquired company is a financial advisory firm based in Atlanta, Georgia. The merger makes GlassRatner a wholly-owned subsidiary of B. Riley Financial, but the agreement stipulates that it will continue to operate under the name of its founder. The price of the acquisition is not available. The merger moves B. Riley Financial more deeply into the Southern United States, expanding the reach of its products and services throughout the nation.
18. B. Riley Financial acquired 272 Capital
B. Riley Financial has made eight acquisitions as of early 2022. On August 4, 2021, it announced its intention to acquire a registered investment advisor named 272 Capital. The company focuses on an attractive risk-adjusted return through its long/short equity strategy. 272 Capital is in Dallas, Texas. It is ow a subsidiary of BRF, operating under its umbrella. The company acquired will continue to function under its business name as a subsidiary of BRF. The details of the acquisition agreement are not available.
19. B. Riley Financial has a significant turnover rate
The financial industry isn't for everyone. It's a fast-paced occupation that requires sharp attention to detail and focuses on client needs. BRF has a significant turnover rate, but it's not the worst. For a mega-corporation of its size, it's on par with the average. The company has made 35 recent senior management hires. It has increased the headcount by four percent in the past six months. The median tenure at the company is 3.2 years, including all positions.
20. B.Riley Financial is a company to keep your eye on
If you're considering diversification of your investment portfolio, B. Riley Financial is a company to watch. The company is on a steady expansion trajectory throughout the United States. It offers diversified financial products and services for individuals, families, and businesses. It's made significant investments diversifying its interests, setting a solid example for investors to follow. B. Riley stock shares are available on the Nasdaq Stock Exchange under the ticker symbol RILEY.B. If this company fits in with your current investment strategy, you may wish to speak with your financial advisor about your current investment portfolio as a long-term investment option.
Written by Allen Lee
Read more posts by Allen Lee