BRC Group Holdings

What BRC Group Holdings does

BRC Group Holdings, Inc. (NASDAQ: RILY), formerly B. Riley Financial, is a diversified holding company founded in 1997 by Bryant Riley and headquartered in Los Angeles. The company operates three core segments: financial services (B. Riley Securities for investment banking and capital markets, B. Riley Wealth Management for brokerage and financial planning, and the newly launched BRC Specialty Finance for direct lending to small-cap and middle-market issuers), communications and consumer services (Lingo, magicJack, CREDO Mobile, United Online), and retail (Targus). It also holds an opportunistic investment portfolio spanning equity, debt, and venture capital positions and a joint-controlled GA Group (asset appraisal and liquidation, partnered with Oaktree Capital Management).

The platform serves 900,000+ clients across more than 100 markets, including 90% of the Fortune 1000, public small-cap and middle-market companies, high-net-worth individuals, and consumer telecom subscribers. B. Riley Securities delivered over $42 billion in client capital-raising transactions across 200+ deals in 2025. The company employs approximately 1,600 team members and manages $13.2 billion in assets under management, with cumulative client equity and debt raised of $78B and $41B respectively.

Revenue is generated through multiple mechanics: transaction fees (underwriting, M&A advisory, trading commissions from B. Riley Securities), asset-based and recurring fees (wealth management, communications subscriptions through magicJack/Lingo/CREDO/United Online), interest income and fees (specialty finance), realized and unrealized investment gains from proprietary trading and venture positions (including carried interest exposure to SpaceX SPVs), and one-time product sales (Targus retail). Distribution is relationship-based across institutional sales desks, financial advisors, and direct lending; consumer telecom reaches end users via retail and direct channels. The company maintains an extensive U.S. office network (~27 locations) plus a Hyderabad, India office.

Name

BRC Group Holdings

Legal name

BRC Group Holdings, Inc.

Website

https://brcgh.com

Company type

Public

Founded year

1997

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

BRC Group Holdings (NASDAQ: RILY) is a diversified holding company providing investment banking, capital markets, wealth management, specialty finance, communications, and retail services primarily to U.S. small-cap and middle-market companies and high-net-worth individuals.

Ownership category

akta.pro rank

Product category

Diversified Financial Services

NAICS

Portfolio Management and Investment Advice (52394), Miscellaneous Financial Investment Activities (523999), All Other Financial Investment Activities (52399)

SIC

Security Brokers, Dealers & Flotation Companies (6211), Investment Advice (6282), Miscellaneous Business Credit Institution (6159)

akta.pro primary industry

Capital Markets Advisory (IPO Readiness, SPAC, ECM/DCM Advisory) (BPAHAOAL)

akta.pro secondary industries

Asset-Based Lending (ABL) (FSANADAD), Equity Capital Markets Advisory (Equity Issuance Strategy & Readiness) (FSACAAAI), Regulatory Change, Governance & Compliance Management (GRC) (FSACAJAK)

Keywords

• Investment banking services
• Wealth management advisory
• Specialty finance lending
• Capital markets advisory
• Asset appraisal services

Headquarters

HQ city

Los Angeles

HQ country

United States

HQ region

North America

Offices28 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D

Revenue model

1. Capital Markets Services: Investment banking and capital markets revenue including underwriting fees, M&A advisory fees, and trading commissions from B. Riley Securities operations
2. Wealth Management: Wealth management and financial planning fees including brokerage, investment management, insurance, and tax preparation services
3. Specialty Finance: Interest income and fees from providing structured financing solutions to small-cap and middle-market companies
4. Trading Gains and Investment Appreciation: Realized and unrealized gains from proprietary trading and investment activities in equity, debt and venture capital
5. Communications Services: Recurring revenue from telecom services including VoIP, mobile, internet and data services through magicJack, Lingo, United Online, and CREDO Mobile
6. Retail: Revenue from sale of mobile computing accessories through Targus and brand investment portfolio

Go-to-market motion3 records

Distribution channels5 records

Marketing channels3 records

Core offering

BRC Group Holdings is a diversified holding company providing customized end-to-end financial services to small-cap and middle-market companies through B. Riley Securities (investment banking, capital markets, M&A, restructuring), B. Riley Wealth Management (brokerage, investment management, financial planning), and BRC Specialty Finance (structured equity loans, bridge loans, and direct lending of $10M-$100M). Beyond core financial services, BRC operates communications businesses (Lingo, magicJack, CREDO Mobile, United Online), retail (Targus), and corporate advisory (GA Group) through a portfolio of subsidiaries.

Product overview

BRC Group Holdings is a diversified holding company operating multiple business segments. Its core financial services platform provides small-cap and middle-market companies customized end-to-end solutions through B. Riley Securities (investment banking and capital markets), B. Riley Wealth Management (wealth management and financial planning), and BRC Specialty Finance (specialty lending). The company also holds portfolio companies across communications (Lingo, magicJack, CREDO Mobile, United Online) and retail (Targus), as well as GA Group (asset appraisal and liquidation services). The platform offers comprehensive services in capital markets, sales, trading, research, merchant banking, M&A, restructuring, wealth management, and specialty finance.

Differentiator

Problem solved

Functional benefit

Brands

• B. Riley Securities: Investment banking and capital markets subsidiary
• B. Riley Wealth Management
• GA Group
• Targus
• Lingo
• magicJack
• CREDO Mobile
• United Online

Products and services

• B. Riley Securities Full suite of investment banking and capital markets services to corporations, financial sponsors, and institutional investors. Includes initial, secondary, and follow-on offerings, institutional private placements, M&A advisory, SPACs, corporate restructuring, liability management, and thematic proprietary equity research.
• B. Riley Wealth Management Wealth management and financial planning platform providing clients with brokerage, investment management, insurance, and tax preparation services.
• GA Group Diversified corporate advisory services specializing in asset appraisal and liquidation. Offers Appraisal and Valuation Services, Retail, Wholesale and Industrial Liquidations, Real Estate Solutions, and Asset-Backed Lending. Majority-owned by funds managed by Oaktree Capital Management.
• Targus Technology solutions and protective cases for consumers and enterprises, including laptop bags, cases, and docking stations to help people carry, protect, and connect their tech everywhere.
• Lingo Single source communications and cloud provider delivering voice, data, and managed services to enterprises and SMBs across the US. Serves 51k+ customers with NPS scores significantly above industry average.
• magicJack Pioneer in Voice over IP (VoIP) technology and services for consumers and businesses across US and Canada. Easy-to-use, low-cost solution serving close to a million subscribers with unlimited calling to US and Canada.
• CREDO Mobile Virtual Mobile Network Operator (MVNO) serving 50k+ mobile subscribers in the US. Has donated over $95M to non-profits supporting positive change since 1985.
• United Online Through operating subsidiaries NetZero and Juno, provides consumers internet access, email, and security services for more than 300k subscriber accounts.
• BRC Specialty Finance Financing solutions platform providing tailored capital to underserved U.S. public small-cap and middle-market companies. Offers structured equity loans, bridge loans, and direct lending with investments ranging from $10 million to $100 million.

Quantifiable outcome

• $78B/$41B equity and debt raised for clients
• +4 more outcomes

Named customers7 records

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

One partnership is on record.

• Base Electron / Applied DigitalminorOthers · 12 March 2026Base Electron, backed by Applied Digital Corporation, was counterparty to a $2.4 billion Power Generation Contract with Babcock & Wilcox Enterprises. BRC Group Holdings, as largest shareholder of B&W, was alleged to have undisclosed conflicts of interest standing on both sides of the transaction. Wolfpack Research published a short report on March 12, 2026 exposing these alleged conflicts.

Scale indicators20 records

Recent moves9 records

Expansion highlights5 records

Broad incumbents

• Raymond James Financial: Raymond James is a diversified financial services holding company with substantial investment banking, wealth management, and asset management businesses. Its middle-market focus on small-cap advisory and its large financial advisor network parallels BRC's structure, though at significantly larger scale.
• Jefferies Financial Group: Jefferies is a larger diversified financial services holding company with investment banking, capital markets, and asset management. It operates broadly across multiple sectors and deal sizes, making it a broad incumbent comparable to BRC's overall platform but at significantly greater scale.
• StoneX Group Inc. StoneX is a diversified financial services firm spanning execution, clearing, wealth management, and specialty lending. While broader in scope and more institutional in focus, its combination of capital markets, wealth, and alternative finance overlaps meaningfully with BRC's diversified platform.

Direct peers

• Piper Sandler Companies: Piper Sandler is a focused middle-market investment bank and asset manager with deep sector specialization. Its advisory and equity capital markets franchise targeting middle-market issuers overlaps directly with B. Riley Securities' core deal flow and serves a similar client base.
• Cowen Inc. (TD Cowen): Prior to its acquisition by TD Securities, Cowen was a leading independent small-cap and middle-market investment bank with a research-driven advisory franchise. Its target client base and capital markets focus closely mirrored B. Riley Securities' core franchise.
• Canaccord Genuity Group: Canaccord Genuity operates a global capital markets and wealth management platform with a strong small-cap and mid-cap focus. Its combination of advisory services for growth-stage and mid-market issuers plus wealth management is closely aligned with BRC's integrated platform.
• Oppenheimer Holdings: Oppenheimer Holdings operates a closely comparable diversified structure combining private client wealth management, full-service investment banking, and institutional equity research with a middle-market focus. Like BRC, it serves small-cap and middle-market companies with advisory, capital markets, and wealth management offerings, making it one of the closest structural analogues.
• Houlihan Lokey: Houlihan Lokey is a leading middle-market M&A advisor with strong restructuring capabilities, directly comparable to B. Riley Securities' M&A advisory and B. Riley Farber's restructuring practice. Both firms emphasize middle-market transactions and have built reputation in financial restructuring.
• Stifel Financial Corp. Stifel is a leading middle-market focused financial services firm combining investment banking, capital markets, and wealth management. Its Global Wealth Management and Institutional Group divisions mirror BRC's B. Riley Securities and B. Riley Wealth Management combination, and its focus on small/mid-cap advisory and capital raising is highly comparable.
• Ladenburg Thalmann Financial Services: Ladenburg Thalmann operated a diversified platform combining small/mid-cap investment banking with independent advisor network wealth management, closely matching BRC's B. Riley Securities and B. Riley Wealth Management combination targeting the same underserved client base.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/brileyfinancial

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Subsidiaries12 records

Funding overview

Funding rounds

Investors

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

M&A

Investments

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

Frequently asked questions about BRC Group Holdings