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B. Riley Financial, Inc. to sell portion of Wealth Management Business to Stifel Financial Corp.

Nov 01, 2024•9 months ago

Acquiring Company

B. Riley Financial

Acquired Company

Stifel Financial

Description

B. Riley Financial, Inc. has signed a definitive agreement to sell a portion of its traditional (W-2) Wealth Management business to Stifel Financial Corp. The transaction is for an estimated net consideration of $27 million to $35 million in cash, and does not include approximately 190 independent advisors and 90 tax professionals. The expected 40 to 50 advisors, along with the associated customer accounts, will transition to Stifel in early 2025. The transaction is expected to close early in the second quarter of 2025.

Company Information

Company

B. Riley Financial

About

B. Riley Financial provides collaborative solutions tailored to fit the capital raising and business advisory needs of its clients and partners. B. Riley operates through several subsidiaries that offer a diverse range of complementary end-to-end capabilities spanning investment banking and institutional brokerage, private wealth and investment management, financial consulting, corporate restructuring, operations management, risk and compliance, due diligence, forensic accounting, litigation support, appraisal and valuation, auction and liquidation services. For more information, please visit www.brileyfin.com.

M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed