B. Riley appoints president for wealth management subsidiary
B. Riley Financial appointed a new president of the firm's wealth management subsidiary.
Chuck Hastings makes the move from the firm’s asset management affiliate, where he acted as director of wealth management strategic initiatives and portfolio management.
B. Riley Wealth Management manages over 34,000 accounts and has over $10 billion in assets under administration. The firm's 160 financial advisors operate in 13 states, according to the company.
In his previous role, Hastings was responsible for helping identify and hire established financial advisors to expand the firm’s network of full-service wealth management locations across the United States.
Hastings has been “instrumental in spearheading the integration and transformation” of the company's wealth management business over the last two years, Bryant Riley, chairman and co-chief executive officer of B. Riley Financial, said in a statement.
Prior to joining B. Riley, Hastings was head trader at GPS Partners and earlier in his career he worked at Morgan Stanley.
“His continued focus on driving collaboration across the broader B. Riley platform has supported our ability to expand our presence in strategic markets through the addition of several experienced financial advisors. We look forward to continued growth in this business,” Riley said.
B. Riley Wealth Management also recently hired a $181 million duo from Raymond James. Industry veterans Michael McCall and Michael, along with Connelly Christin Hinckle, a portfolio manager, joined the firm in May after seven years with the regional broker-dealer.
In addition to its asset management and wealth management units, B. Riley’s affiliated companies also include B. Riley FBR, a full-service investment bank and brokerage.