B. Riley Financial
BRC Group Holdings (formerly B. Riley Financial) is a diversified holding company providing investment banking, capital markets, wealth management, and specialty finance services to small-cap and middle market companies, with operating subsidiaries in communications (CREDO Mobile, magicJack, Lingo, United Online) and retail (Targus).
- Company typePublic
- Founded1997
- HeadquartersLos Angeles, United States
- Headcount1,001–5,000
- GTM typeB2B
- OfferingServices
What B. Riley Financial does
B. Riley Financial, now operating as BRC Group Holdings, Inc. (Nasdaq: RILY), is a diversified holding company founded in 1997 and headquartered in Los Angeles, with approximately 1,600 team members serving over 900,000 historical clients across more than 100 global markets. The company's core financial services platform targets small-cap and middle market companies, offering capital markets services, sales and trading, research, merchant banking, M&A advisory, and restructuring through B Riley Securities; wealth management, brokerage, investment management, insurance, and tax preparation through Briley Wealth; and direct lending through BRC Specialty Finance. B. Riley's banking business is differentiated by nearly three decades of small-cap C-suite access and a full-service offering spanning the enterprise life cycle, while its wealth management arm delivers recurring-revenue financial planning to individuals. Revenue streams span professional services fees, recurring wealth management and communications subscriptions, retail hardware sales, and opportunistic investment returns from equity, debt, and venture capital positions.
The company operates a platform-plus-subsidiary structure with operating businesses in communications (CREDO Mobile, United Online, magicJack, Lingo) and retail (Targus mobile computing accessories, GA Group home furnishings), each contributing diversified revenue beyond the financial services core. GTM motion is enterprise field sales targeting institutional clients, supported by direct B2B relationships and industry events such as B. Riley Securities healthcare summits. Pricing is not publicly disclosed and is quote-based for enterprise clients, with recurring subscription revenue in the wealth and communications businesses and transactional/hardware revenue in retail. The corporate technology stack is described as a diversified financial services technology platform supporting capital markets, trading, wealth management, and specialty finance operations, without disclosed proprietary technology differentiation.
In 2025, the company completed a strategic restructuring including $314 million of debt reduction, a $160 million capital injection from Oaktree Capital Management, completion of overdue financial filings to avoid Nasdaq delisting, and a return to profitability with Q2 2025 net income of $137.5 million. In 2026, B. Riley Financial rebranded to BRC Group Holdings, Inc. and launched BRC Specialty Finance as its direct lending arm, which has begun deploying senior secured term loans to borrowers including an AI-driven HPC data center infrastructure provider. Ongoing regulatory matters include securities fraud litigation, fiduciary duty investigations by Halper Sadeh and Rosen Law, and legacy scrutiny stemming from Brian Kahn's securities fraud guilty plea and the Franchise Group matter.
B. Riley Financial firmographics
Firmographics- Name
- B. Riley Financial
- Legal name
- BRC Group Holdings, Inc.
- Website
- https://brileyfin.com
- Company type
- Public
- Founded year
- 1997
- Operating status
- Operating
- Headcount range
- 1,001–5,000 employees
- Short description
- BRC Group Holdings (formerly B. Riley Financial) is a diversified holding company providing investment banking, capital markets, wealth management, and specialty finance services to small-cap and middle market companies, with operating subsidiaries in communications (CREDO Mobile, magicJack, Lingo, United Online) and retail (Targus).
- Ownership category
- akta.pro rank
B. Riley Financial industry classification
Industry- Product category
- Investment Banking & Financial Advisory
- NAICS
- Portfolio Management and Investment Advice (523940), Securities, Commodity Contracts, and Other Financial Investments and Related Activities (523), Other Financial Investment Activities (5239)
- SIC
- Security Brokers, Dealers & Flotation Companies (6211), Investment Advice (6282)
- akta.pro primary industry
- Capital Markets Advisory (IPO Readiness, SPAC, ECM/DCM Advisory) (BPAHAOAL)
- akta.pro secondary industries
- Equity Capital Markets Advisory (Equity Issuance Strategy & Readiness) (FSACAAAI), Asset-Based Lending (ABL) (FSANADAD)
Keywords
Where B. Riley Financial is headquartered
LocationHeadquarters
- HQ city
- Los Angeles
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
B. Riley Financial business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Marketing or Sales
Revenue model
- Investment Banking & Capital Markets: Revenue from capital markets services including sales, trading, research, merchant banking, M&A advisory, and restructuring services provided to small-cap and middle market companies
- Wealth Management: Revenue from wealth management and financial planning services including brokerage, investment management, insurance, and tax preparation
- Communications Services: Revenue from consumer and business communications services including traditional, mobile and cloud phone, internet and data, security, and email services
- Retail: Revenue from retail businesses providing mobile computing accessories and home furnishings
- Investment Returns: Returns from opportunistic investments in equity, debt and venture capital across the portfolio
Go-to-market motion1 record
Distribution channels3 records
Marketing channels3 records
B. Riley Financial product offering
Product offeringCore offering
BRC Group Holdings (formerly B. Riley Financial) is a diversified holding company whose core financial services platform delivers investment banking, capital markets, sales, trading, research, merchant banking, M&A advisory, restructuring, direct lending/specialty finance, and wealth management services to small-cap and middle market companies. Beyond financial services, the company also operates subsidiaries in consumer communications (CREDO Mobile, United Online, magicJack, Lingo) and retail (Targus mobile computing accessories, GA Group home furnishings), and deploys capital through opportunistic investments in equity, debt, and venture capital.
Product overview
B. Riley Financial, rebranded as BRC Group Holdings (Nasdaq: RILY), is a diversified financial services holding company operating a platform-plus-subsidiary model. The core financial services platform includes B Riley Securities (investment banking with capital markets, sales, trading, research, merchant banking, M&A, and restructuring services), BRC Specialty Finance (direct lending and specialty finance solutions), and Briley Wealth (wealth management and financial planning). The company also holds portfolio companies across communications (CREDO mobile, United Online, magicJack, Lingo) and retail (Targus, GA Group). The diversified structure combines investment banking and lending services with operating businesses in telecom and retail.
Differentiator
Problem solved
Functional benefit
Brands
- B Riley Securities: Investment banking and capital markets services including sales, trading, research, merchant banking, M&A, and restructuring
- Briley Wealth
- BRC Specialty Finance
- CREDO Mobile
- magicJack
- Lingo
- Targus
- United Online
Products and services
- B Riley Securities Full-service investment bank providing capital markets, sales, trading, research, merchant banking, M&A advisory, and restructuring services for small-cap and middle market companies.
- BRC Specialty Finance Direct lending platform providing structured capital solutions, including senior secured term loans, for middle market companies across sectors such as AI-driven data center infrastructure.
- Briley Wealth Wealth management and financial planning services including brokerage, investment management, insurance, and tax preparation delivered through licensed financial advisors and brokers.
- CREDO Mobile Mobile telecommunications services for consumers and businesses offered through the CREDO Mobile brand.
- United Online Online services and internet service provider offering internet, data, and email services to consumers and businesses.
- magicJack VoIP and mobile phone services providing internet-based calling solutions to consumers.
- Lingo Cloud communications and connectivity services for consumers and businesses.
- Targus Mobile computing accessories including laptop bags, docks, and peripherals sold through retail and e-commerce channels.
- GA Group Operating subsidiary within the diversified holdings portfolio focused on home furnishings retail.
Quantifiable outcome
- Q2 2025 net income of $137.5 million compared to net loss of $435.6 million in same period prior year
- +1 more outcomes
Companies that use B. Riley Financial
Customer profileSegments2 records
Ideal customer profiles4 records
B. Riley Financial technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
B. Riley Financial partnerships and signals
Strategic signalPartnerships
Two partnerships are on record, tiered core.
- Interface Consulting InternationalcoreB. Riley Financial acquired Interface Consulting International, an engineering and construction consulting firm, as part of its expansion strategy in professional services.
- 272 Capital L.P.coreB. Riley Financial acquired the investment advisory business of 272 Capital L.P., adding over $270 million in assets under management and expanding its small-cap management capabilities.
Scale indicators11 records
Recent moves6 records
Expansion highlights5 records
B. Riley Financial competitors and assessment
Company assessmentDirect peers
- Stifel Financial Corp. Diversified middle-market-focused investment bank, wealth manager, and institutional broker-dealer — closely comparable to B. Riley's mix of capital markets, M&A advisory, and wealth management for small-cap and middle-market clients.
- Jefferies Financial Group: Diversified financial services holding company combining investment banking, capital markets, asset management, and direct lending — analogous to B. Riley's platform-plus-subsidiary model with opportunistic investment returns.
- Raymond James Financial: Diversified financial services firm with strong investment banking and a large wealth management network — directly comparable to B. Riley Securities and Briley Wealth serving middle-market clients.
- Piper Sandler Companies: Middle-market-focused investment bank with advisory, equity capital markets, and fixed income services — direct overlap with B. Riley Securities' small-cap and middle-market investment banking franchise.
- Houlihan Lokey: Global investment bank with leading M&A advisory and restructuring practices — directly comparable to B. Riley's restructuring and M&A advisory offerings for middle-market companies.
- Canaccord Genuity Group: Independent investment bank focused on growth and mid-cap companies — comparable in target market and ECM/advisory services, particularly in small-cap equity capital markets.
- Moelis & Company: Global advisory-focused investment bank serving middle-market and large-cap clients — overlapping with B. Riley's M&A advisory and capital markets advisory offerings.
- Oppenheimer Holdings: Diversified investment bank and wealth manager combining capital markets, M&A, research, and wealth management — structurally similar to B. Riley's capital markets and Briley Wealth businesses.
- Cowen Inc. Middle-market investment bank with research, sales & trading, and investment management (now part of TD Securities) — historically a strong comparable in middle-market ECM and advisory.
Emerging players
- Ladenburg Thalmann Financial Services: Diversified financial services firm with investment banking and wealth management focus — overlaps with B. Riley Securities and Briley Wealth on a smaller scale.
Market position
Strengths4 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights6 records
Customer concentration
B. Riley Financial social profiles
Digital presenceB. Riley Financial financial estimates
Financial estimateRevenue estimate
Valuation estimate
B. Riley Financial leadership team
Management profileNumber of profiles
Profiles13 records
B. Riley Financial subsidiaries and ownership
Company hierarchySubsidiaries8 records
B. Riley Financial funding detail
Funding detailFunding overview
Funding rounds4 records
Investors1 record
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
B. Riley Financial M&A and investment
M&A and investmentM&A12 records
Investments26 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about B. Riley Financial
What does B. Riley Financial do?
BRC Group Holdings (formerly B. Riley Financial) is a diversified holding company whose core financial services platform delivers investment banking, capital markets, sales, trading, research, merchant banking, M&A advisory, restructuring, direct lending/specialty finance, and wealth management services to small-cap and middle market companies. Beyond financial services, the company also operates subsidiaries in consumer communications (CREDO Mobile, United Online, magicJack, Lingo) and retail (Targus mobile computing accessories, GA Group home furnishings), and deploys capital through opportunistic investments in equity, debt, and venture capital.
Is B. Riley Financial a public or private company?
B. Riley Financial is a public company. It is classified as public and is currently operating.
When was B. Riley Financial founded?
B. Riley Financial was founded in 1997. It employs 1,001 to 5,000 people.
Where is B. Riley Financial based?
B. Riley Financial is headquartered in Los Angeles, United States, in the North America region.
How does B. Riley Financial make money?
Five revenue lines are on record. Investment Banking & Capital Markets are the primary driver. The others are wealth Management, communications Services, retail and investment Returns.
Who are B. Riley Financial's main competitors?
Direct peers on record are Stifel Financial Corp., Jefferies Financial Group, Raymond James Financial, Piper Sandler Companies, Houlihan Lokey, Canaccord Genuity Group, Moelis & Company, Oppenheimer Holdings and Cowen Inc.. Ladenburg Thalmann Financial Services is listed as an emerging player.
Does B. Riley Financial have an API?
No public API is recorded for B. Riley Financial.
What industry is B. Riley Financial in?
B. Riley Financial's product category is Investment Banking & Financial Advisory. Its primary akta.pro industry code is BPAHAOAL, Capital Markets Advisory (IPO Readiness, SPAC, ECM/DCM Advisory), with a secondary code of FSACAAAI, Equity Capital Markets Advisory (Equity Issuance Strategy & Readiness). Its NAICS code is 523940 and its SIC code is 6211.