B. Riley Wealth Management

What B. Riley Wealth Management does

B. Riley Wealth Management, Inc. is a privately held, full-service wealth management firm headquartered in Memphis, Tennessee, operating as a wholly owned subsidiary of BRC Group Holdings, Inc. The firm is a FINRA-registered broker/dealer, SIPC member, and SEC-registered investment adviser (through subsidiary B. Riley Wealth Advisors), serving high-net-worth individuals and families, corporate executives, business retirement plans, businesses and institutions, and non-profits, trusts, foundations, and endowments across 17 U.S. states. Its service offering spans wealth management, investment solutions, managed accounts (including the proprietary WISDOM Model Portfolios program of 12 actively managed mutual fund and ETF allocations), securities-based lending, corporate executive services, corporate retirement plans, business lending and liquidity solutions, and capital markets access through its affiliate B. Riley Securities. A separate subsidiary, B. Riley Wealth Tax Services, provides tax preparation and accounting with physical offices in Florida, New Jersey, and New York.

The firm generates revenue through multiple streams: brokerage commissions on securities transactions, advisory fees on assets under management (wrap fee and separately managed accounts), insurance commissions (primarily fixed annuities through B. Riley Wealth Insurance), fees from tax preparation services, and interest income from securities-based lines of credit. Underlying technology includes the proprietary WISDOM portfolio construction framework, eMoney Advisor financial planning software, and dual clearing infrastructure through Fidelity's National Financial Services (NFS) and Axos Clearing. Distribution is conducted via a consultative, relationship-based sales model executed by a network of licensed financial professionals, supported by a content marketing engine (Monday Morning Commentary, Market Insights) and an online advisor directory. The firm has 251-500 employees and is led by CEO Michael Mullen with a broader executive team including COO Philip Zanone, CFO Mary Swain, CAO Steve Bonnema, CCO Daniel Ortega, Head of Relationship Management Henry Kaplan, and Chief Market Strategist Art Hogan.

Name

B. Riley Wealth Management

Legal name

B. Riley Wealth Management, Inc.

Website

https://brileywealth.com

Company type

Private

Founded year

1996

Operating status

Operating

Headcount range

101–250 employees

Short description

B. Riley Wealth Management is a privately held, full-service wealth management firm serving high-net-worth individuals, families, executives, businesses, and non-profits across 17 U.S. states with brokerage, investment advisory, insurance, tax, and lending services.

Ownership category

akta.pro rank

Product category

Wealth Management

NAICS

Portfolio Management and Investment Advice (52394), Portfolio Management and Investment Advice (523940), Finance and Insurance (52), Pension Funds (52511)

SIC

Investment Advice (6282), Security Brokers, Dealers & Flotation Companies (6211)

akta.pro primary industry

Registered Investment Advisor (RIA) Wealth Management (FSAEABAA)

akta.pro secondary industries

Independent Broker-Dealers (Retail Network) (FSAAAAAC), Employer Retirement Plan Advisory (401(k)/Pension) (FSAEABAE), Insurance-Integrated Wealth Managers (RIA + Insurance Solutions) (FSAAACAI), Advisory Portfolio Management (Non-Discretionary) (FSAAABAD)

Keywords

• Wealth management services
• Investment advisory
• Broker-dealer services
• Financial planning
• Retail brokerage

Headquarters

HQ city

Memphis

HQ country

United States

HQ region

North America

Offices12 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Brokerage Commissions: Commission-based revenue from securities transactions executed for client brokerage accounts. B. Riley Wealth Management operates as a FINRA-registered broker/dealer and member SIPC.
2. Advisory Fees (Wrap Fee/AUM): Annual fees based on assets under management for wrap fee accounts and separately managed accounts. Advisory services offered through B. Riley Wealth Advisors, an SEC-registered investment adviser.
3. Insurance Products: Revenue from fixed and variable annuity products and insurance offerings through B. Riley Wealth Insurance.
4. Tax Services: Tax preparation and accounting services fees through B. Riley Wealth Tax Services.
5. Securities-Based Lending: Interest income from securities-based lines of credit offered through third-party banking sources.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels5 records

Core offering

B. Riley Wealth Management is a FINRA-registered broker/dealer and SEC-registered investment adviser that provides full-service wealth management, investment advisory, brokerage, insurance, securities-based lending, tax preparation, and corporate retirement plan services. The firm serves individuals, families, businesses, institutions, non-profits, trusts, foundations, and endowments through a network of licensed financial professionals delivering consultative financial planning and proprietary WISDOM Model Portfolios.

Product overview

B. Riley Wealth Management operates a comprehensive wealth management platform serving individuals, families, businesses, and institutions. The firm is organized into four main subsidiaries: B. Riley Wealth Management (FINRA-registered broker/dealer offering securities and variable insurance), B. Riley Wealth Advisors (SEC-registered investment adviser for fee-based advisory services), B. Riley Wealth Insurance (fixed annuity products), and B. Riley Wealth Tax Services (tax preparation and accounting). The core product suite includes Wealth Management, Investment Solutions, Managed Accounts with the proprietary WISDOM Model Portfolios program, Tax Services, Securities-Based Lending, Corporate Executive Services, Corporate Retirement Plans, Lending & Liquidity Resources, and Capital Markets services through B. Riley Securities affiliation.

Differentiator

Problem solved

Functional benefit

Products and services

• Wealth Management Comprehensive wealth management covering investment management, education planning, retirement planning, risk management, trust coordination, lending and liquidity solutions, and legacy planning for individuals and families.
• Investment Solutions Customized investment platform providing stocks, bonds, mutual funds, ETFs, fixed income products, actively managed funds, alternatives, liquidity solutions, and separately managed accounts, including annuities and insurance products.
• Managed Accounts Professionally managed investment programs including wrap fee accounts and separately managed account programs, providing access to multiple managed investment options and unique advisory services.
• WISDOM Model Portfolios Exclusive proprietary actively managed portfolios created and administered by B. Riley Wealth's in-house Investment Solutions team, with 12 model allocations of mutual funds and ETFs ranging from income to aggressive growth and incorporating alternative investments.
• Tax & Accounting Services Tax planning, preparation, and accounting services including tax return preparation, tax management plans, bookkeeping, and estate planning, offered through B. Riley Wealth Tax Services.
• Securities-Based Lending Securities-based line of credit allowing clients to unlock liquidity by using investments in their B. Riley Wealth brokerage account as collateral, at a variable interest rate close to the prime lending rate.
• Corporate Executive Services Wealth management services tailored for corporate executives, including comprehensive wealth management, restricted stock transactions, cashless exercise of stock options (ISO and NSO), and retirement planning.
• Corporate Retirement Plans Corporate retirement plan design and fiduciary services including qualified plan and 401(k) advisory, plan fiduciary services in 3(21) or 3(38) capacity, consulting, participant education, and non-qualified deferred compensation.
• Lending & Liquidity Resources Business lending and liquidity solutions sourced through third parties, helping clients access capital for business expansion, acquisitions, operating cycle management, and commercial real estate.
• Capital Markets Investment banking and capital markets services delivered through the affiliated B. Riley Securities, including public and private capital raises, equity and debt offerings, M&A advisory, restructuring and liability management, and research coverage of 350+ small and mid-cap equities.
• B. Riley Wealth Insurance Insurance products including fixed annuities (variable products excluded), offered through the B. Riley Wealth Insurance subsidiary to B. Riley Wealth clients.

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration2 records

Feature3 records

Partnerships

Six partnerships are on record, tiered core and flagship.

• National Financial Services, LLC (NFS)coreTechnology or IntegrationNFS serves as one of two primary clearing firms for B. Riley Wealth client brokerage accounts. The firm provides custody services, trade execution routing, and account administration. B. Riley Wealth has adopted NFS's Rule 606 disclosure reports for order routing transparency.
• Axos Clearing, LLCcoreTechnology or IntegrationAxos Clearing serves as one of two primary clearing firms for B. Riley Wealth client brokerage accounts. Provides custody services, trade execution routing, and account administration. B. Riley Wealth has adopted Axos's Rule 606 disclosure reports for order routing transparency.
• B. Riley SecuritiesflagshipStrategic or Co-development PartnerB. Riley Securities is an affiliated company under BRC Group Holdings that provides investment banking, capital markets, and equity research services. Through this affiliation, B. Riley Wealth clients gain access to full-service investment banking expertise and proprietary research covering 350+ small and mid-cap equities.
• B. Riley Wealth AdvisorscoreOthersB. Riley Wealth Advisors is an SEC-registered investment adviser and wholly-owned subsidiary providing fee-based asset management and advisory services.
• B. Riley Wealth InsurancecoreOthersB. Riley Wealth Insurance is a subsidiary offering insurance products including fixed annuities (but not variable products) to B. Riley Wealth clients.
• B. Riley Wealth Tax ServicescoreOthersB. Riley Wealth Tax Services is a subsidiary providing tax preparation and accounting services to individuals and businesses.

Scale indicators2 records

Recent moves5 records

Expansion highlights5 records

Broad incumbents

• Ameriprise Financial: Ameriprise is a large diversified wealth management and financial planning firm with a national advisor force. Comparable in full-service wealth and financial planning offering, but at significantly larger scale.

Direct peers

• Raymond James Financial: Raymond James operates an integrated wealth management, investment banking, and capital markets platform serving HNW individuals, advisors, and institutions. Directly comparable to B. Riley Wealth's multi-line platform model with affiliated broker-dealer and RIA subsidiaries.
• Stifel Financial: Stifel offers full-service wealth management, brokerage, and investment banking through a nationwide advisor network. Comparable in its integrated wealth + capital markets model and HNW/middle-market focus.
• Cambridge Investment Research: Cambridge is a large independent broker-dealer/RIA supporting financial advisors with wealth management, advisory, and retirement plan services. Comparable in independent BD structure and HNW advisor focus.
• Commonwealth Financial Network: Commonwealth is an independent broker-dealer/RIA providing wealth management, advisory, and planning tools to a national advisor network. Comparable to B. Riley Wealth's advisor-led, multi-product platform.
• Janney Montgomery Scott: Janney is a regional full-service broker-dealer and wealth management firm with affiliated investment banking and equity research. Closely comparable to B. Riley Wealth in integrated wealth + capital markets model.
• Robert W. Baird: Robert W. Baird provides wealth management, investment banking, and equity research to individuals, families, and institutions. Highly comparable integrated platform with research-driven HNW wealth offering.
• LPL Financial: LPL Financial is the largest independent broker-dealer in the U.S., supporting thousands of financial advisors with wealth management, advisory, and brokerage infrastructure. Directly comparable in business model (independent BD/RIA serving advisor network).
• Cetera Financial Group: Cetera is a network of independent broker-dealer firms providing wealth management to HNW individuals through affiliated advisors. Comparable to B. Riley Wealth's advisor-led, broker-dealer/RIA platform model.
• Mariner Wealth Advisors: Mariner is a national RIA offering comprehensive wealth management, tax, estate planning, and investment solutions to HNW individuals. Comparable in integrated fee-based wealth model and HNW focus.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/brileywealthmanagement
• Xx.com/BRileyWealth

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Subsidiaries4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments4 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about B. Riley Wealth Management