B. Riley Financial In Talks To Sell Wealth Management Unit To Stifel Financial For Over $100M
Portfolio Pulse from Benzinga Newsdesk
B. Riley Financial is reportedly in discussions to sell its wealth management unit to Stifel Financial for over $100 million, according to sources cited by Reuters.
September 20, 2024 | 5:49 pm
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POSITIVE IMPACT
B. Riley Financial is negotiating the sale of its wealth management unit to Stifel Financial for over $100 million. This move could streamline B. Riley's operations and provide a cash influx.
The sale of the wealth management unit could positively impact B. Riley Financial by providing significant cash and allowing the company to focus on core operations. This news is likely to be viewed positively by investors.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
Stifel Financial is in talks to acquire B. Riley Financial's wealth management unit for over $100 million. This acquisition could expand Stifel's wealth management capabilities.
Acquiring B. Riley's wealth management unit could enhance Stifel Financial's market position and service offerings, which is likely to be seen as a strategic growth move by investors.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80