B. Riley Financial, Inc. is a diversified financial services company providing a broad range of products and services including investment banking, institutional brokerage, private wealth management, investment management, financial consulting, corporate restructuring, operations management, risk and compliance, due diligence, forensic accounting, litigation support, appraisal and valuation, auction, and liquidation services. The company operates across multiple business segments serving the small-cap and middle-market sectors primarily in the United States. Founded in 1997 and headquartered in Los Angeles, California, B. Riley Financial also opportunistically invests capital for shareholder benefit and originates and underwrites senior secured loans for asset-rich companies.
Recent major changes include the strategic sale of the appraisal and valuation services, retail, wholesale, and real estate advisory businesses to Oaktree Capital Management in late 2024, generating approximately $200 million in proceeds. The company is refocusing on its core financial services platform while divesting non-core assets including a majority stake sale in Great American Group to improve its balance sheet and reduce debt by hundreds of millions of dollars. In addition, the company carved out B. Riley Securities in early 2025 to operate as a separate, well-capitalized, debt-free entity specializing in capital markets transactions, which has since led multiple significant deals in AI infrastructure and digital assets. Furthermore, B. Riley Financial entered a partnership with Stifel Financial Corp. by divesting part of its wealth management business, enhancing its capital structure and operational flexibility. These steps are part of a broader strategy to streamline operations and enhance shareholder value with a clear focus on investment banking, wealth management, and advisory services in the middle market.