B. Riley in Talks to Sell Wealth Management Unit to Stifel Financial for Over $100M – Reuters

B. Riley Financial is currently in negotiations to sell its wealth management division to Stifel Financial for over $100 million. The potential transaction highlights the ongoing consolidation in the financial services sector, as firms seek to expand their service offerings and customer bases. B. Riley’s move reflects a strategic shift, as the company aims to focus on its core competencies while capitalizing on the increasing demand for wealth management services. Stifel, known for its robust investment and wealth management solutions, is looking to enhance its presence in this area through the acquisition. The deal, if finalized, could significantly impact both companies and the broader market landscape.