B Riley Wealth Management, Inc. (Memphis)

Name: B Riley Wealth Management, Inc.
Address: 40 South Main, Memphis, TN, 38103
Telephone: 901-251-1330

B Riley Wealth Management, Inc. is a large advisory firm based in Memphis. It manages $2.18 billion of regulatory assets for 6,331 client accounts. It has been registered with the SEC as an adviser since 2018 and has operated in the jurisdictions of Alabama, Alaska, Arizona, and 49 other states.

B Riley Wealth Management provides financial planning services, portfolio management for individuals and small businesses, portfolio management for businesses and institutional clients, selection of other advisers, and educational seminars and workshops. It prepares financial plans for more than 10 clients. On top of advisory services, the firm doesn't engage in other business activities.

B Riley Wealth Management: assets under management

The assets under management (AUM) of B Riley Wealth Management, Inc. is $2.18 billion. The firm's AUM has grown by 35% since the beginning of its operation, and $9.19 million of the total AUM is attributable to clients outside of the United States.

The firm manages $1.58 billion in discretionary accounts and $601.67 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $349.37 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $332.6 thousand.

B Riley Wealth Management has custody of $71.11 million in cash and securities for 90 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in investment and business development companies the most. They account for 63% of the total AUM. The second-largest asset type is exchange traded securities, which make up 26% of the firm’s portfolio. Investments in cash and cash equivalents form 5% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay B Riley Wealth Management, Inc. for their services and products based on a percentage of assets under management, hourly charges, fixed fees, and commissions. Compensation based on assets under management promotes a long-term relationship between a client and the adviser and helps align mutual interests. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Gary Kent Jr Wunderlich serves?

The firm provides services to individuals, charitable organizations, high net worth individuals, corporations or other businesses, and pension and profit sharing plans. The largest group of clients of Gary Kent Jr Wunderlich is individuals with 6,117 clients and $1.67 billion of assets under management. Among the 9 most similar advisory firms, B Riley Wealth Management has the highest percentage of individuals out of all clients.

The amount of regulatory assets under management is $2.18 billion for 6,331 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. 1% of the firm’s clients are foreign persons or businesses.

B Riley Wealth Management doesn't advise any private funds.

Careers at B Riley Wealth Management, Inc.

The company employs 289 people that are either part- or full-time employees. 72 percent of the employees work as investment advisers or researchers. 208 employees are registered as investment adviser representatives with the state securities authorities.

There are 3 people with the role of looking for and bringing in new clients on behalf of the firm. The firm compensates employees in addition to the salary for bringing in new clients. Employees don’t receive compensation from other entities for client referrals.

Gary Kent Jr Wunderlich has been acting as President since 1 Dec 1997. Mary Ann Nell Swain joined the executive team most recently as the Chief Financial Officer.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Inc. Wunderlich Investment Company	Direct owner	1 Dec 1997	75% - 100%	62-1720109
Gary Kent Jr Wunderlich	Director/ceo	1 Dec 1997	Other	2256877
Philip Richard Jr Zanone	Director/president	1 Dec 1997	Other	2135221
Inc. B. Riley Wealth Management Holdings	Direct owner	1 Dec 1997	75% - 100%	62-1720109
Stephen Joseph Bonnema	Chief financial officer	1 Jul 2002	Other	2229865
James Timothy Ritt	Chief compliance officer and general counsel	1 Aug 2015	Other	1836011
Nolan Blake Hughes	Chief compliance officer advisory services	1 Mar 2018	Other	5010510
Candy Johnson Palugi	Chief compliance officer - investment advisory services	1 Jan 2019	Other	4062161
Mary Ann Nell Swain	Chief financial officer	1 Feb 2019	Other	6484916

Indirect Owners

The SEC currently registers 1 indirect owner.

Name	Entity	Date acquired	Ownership	Employer ID
Inc. B. Riley Financial	Parent	1 Jul 2017	75% - 100%	27-0223495

Based in Memphis

The principal office where B Riley Wealth Management, Inc. performs its advisory services is located at 40 South Main, Memphis, TN 38103, which is also the mailing address of the firm. An additional office of the firm is in Nashville, TN. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 901-251-1330 or by fax 901-251-1352. The normal business hours are 8:00 a.m. to 4:30 p.m. on Monday - Friday. You can find more information about the New York firm at wunderlichonline.com and its LinkedIn profile.