- Business
- B. Riley Financial, Inc. (NASDAQ: RILY) is a diversified financial services company that, through its subsidiaries, provides investment banking, corporate finance, equity research, institutional sales and trading, wealth management, financial consulting, auction and liquidation, communications, and consumer products and services to corporate, institutional, and high net worth clients. The Capital Markets segment offers investment banking services including merger and acquisition advisory, restructuring, equity and debt offerings, institutional brokerage, securities lending, direct lending, venture capital, proprietary trading, and fund management; the Wealth Management segment delivers wealth planning and tax services; the Financial Consulting segment provides bankruptcy restructuring, forensic accounting, litigation support, valuation, appraisal, and real estate services; the Auction and Liquidation segment handles retail and wholesale asset disposition; the Communications segment supplies dial-up internet access under NetZero and Juno brands, VoIP services through magicJack, and mobile services via Marconi Wireless; and the Consumer segment focuses on related products. The company operates primarily in North America, with additional presence in Australia, Asia Pacific, and Europe, and maintains offices across the U.S.
Founded in 1997 as B. Riley & Co. by Bryant Riley and headquartered at 11100 Santa Monica Blvd. in Los Angeles, California, the company expanded significantly through its 2014 merger with Great American Group, adopting its current name and NASDAQ listing. In recent developments, B. Riley completed the carve-out of its investment banking subsidiary, B. Riley Securities, via a merger with Cascadia Investments in March 2025, positioning BRS as a debt-free entity focused on middle-market capital markets, research, and M&A advisory. Earlier in July 2024, it acquired Interface Consulting International, a engineering and construction consulting firm, and in June-July 2025, sold GlassRatner to Torquest Partners for $117.8 million, expecting a $66 million gain to bolster its capital structure and refocus on core investment banking and wealth management operations. Additionally, in November 2024, B. Riley formed a partnership with Oaktree Capital to launch GA Group; the company has executed multiple bond exchanges reducing debt by over $600 million since late 2024, and Stifel Financial acquired a team of 36 B. Riley wealth advisors in April 2025.