Welcome to our dedicated page for Binah Capital news (Ticker: BCG), a resource for investors and traders seeking the latest updates and insights on Binah Capital stock.
Binah Capital Group Inc (BCG) operates at the intersection of wealth management and strategic consolidation, providing investors with critical insights into its broker-dealer acquisition strategy. This page aggregates official press releases and verified news coverage related to BCG’s operational developments, regulatory compliance initiatives, and market positioning.
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Key focus areas include updates on advisor network growth, regulatory adaptation strategies, and operational synergies across BCG’s portfolio. Content is organized to highlight material developments while maintaining compliance with financial disclosure standards.
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Binah Capital Group (NASDAQ: BCG) announces that CFO David Shane has been named among the Top 5 Wealth Management CFOs by Wealth Solutions Report in their annual 'CFO 5' list. The recognition acknowledges Shane's three-decade career in financial services, including his experience with broker-dealers, RIA firms, and asset managers.
Shane has been important in managing Binah's financial operations during its first year as a public company. CEO Craig Gould praised Shane's ability to combine rigorous financial management with forward-thinking leadership, emphasizing the company's commitment to creating shareholder value through long-term growth strategies.
Binah Capital Group (NASDAQ: BCG) reported its Q4 and full-year 2024 results, marking one year since its public listing. In Q4, total revenue grew 8% year-over-year to $45 million, while Assets Under Management increased 13% to $27 billion. The company posted a GAAP net loss of $1.1 million but saw Adjusted EBITDA grow 43% to $2.0 million.
For full-year 2024, revenue increased 1% to $169 million with a gross profit of $32 million. The company reported a GAAP net loss of $5.3 million, compared to net income of $0.6 million in 2023. Adjusted EBITDA was $6.3 million, down from $8.4 million in 2023. The company successfully refinanced its $20.0 million senior notes and ended the year with $8 million in cash and $25 million in long-term debt.
Binah Capital Group (NASDAQ: BCG) has been recognized in Financial Planning's 'Top IBD Moves and M&A Deals of 2024' list for its involvement in four major financial transactions during 2024. The company, which operates a network of independent financial advisory firms, played a significant role in deals involving Americana Partners, Merit Financial Advisors, Wentworth Management Services, and Perigon Wealth Management.
These transactions demonstrate Binah's capability in facilitating partnerships and expanding market presence in the financial advisory sector. CEO Craig Gould emphasized that these deals showcase the company's commitment to empowering independent advisory firms with necessary tools and strategies for market success, particularly during a period of significant industry consolidation.
Binah Capital Group (NASDAQ: BCG) announced that CEO Craig Gould has been named to the prestigious InvestmentNews Hot List, recognizing top financial professionals in the United States. The award acknowledges Gould's visionary leadership and contributions to the financial services sector.
Under Gould's leadership, Binah has achieved notable milestones, including a successful public listing in 2024 and significant growth in its network of broker-dealers, insurance brokerages, and advisory firms. The company has established itself as a key player in wealth management, focusing on supporting the trend toward independence in financial services.
The recognition highlights Binah's commitment to empowering independent financial advisors and enabling them to effectively operate and monetize their practices.
Binah Capital Group (NASDAQ: BCG) proudly announces that its subsidiary, PKS Investments, has been recognized as one of Albany's Best Places to Work by the Albany Business Review. This prestigious award places PKS among the top large companies (100+ employees) in the Albany area for employee satisfaction and workplace culture.
The Best Places to Work annual award program, now in its 21st year, is based on employee feedback collected through surveys conducted by Quantum Workplace. Companies are selected based on their ability to create an exceptional work environment that fosters employee engagement and satisfaction.
Craig Gould, CEO of Binah Capital Group, expressed honor at the recognition, stating it reflects their commitment to creating a thriving workplace. This award comes at an exciting time for Binah Capital Group, which went public earlier this year, underscoring the strength of PKS as a key subsidiary and reinforcing Binah's position as a leader in the wealth management industry.
Binah Capital Group announced it received a non-compliance notice from Nasdaq due to the delayed filing of its Quarterly Report on Form 10-Q for the quarter ended March 31, 2024. The notice highlights the failure to meet Nasdaq Listing Rule 5250(c)(1) requirements. The company has until July 21, 2024, to submit a compliance plan to Nasdaq. If accepted, Nasdaq may extend the deadline to November 18, 2024, for the company to regain compliance. Failure to do so may result in delisting. The company has since filed the Form 10-Q as of May 24, 2024, as required by Nasdaq Listing Rule 5810(b).
Binah Capital Group, Inc. (NASDAQ: BCG) recently celebrated its successful completion of a public listing by ringing the Nasdaq MarketSite opening bell on April 30, 2024. This event marked a significant milestone for the leading financial services enterprise. Binah Capital aims to deliver long-term shareholder value by acquiring and managing businesses in the financial services industry, particularly focusing on wealth management. The company offers a variety of affiliation options and clearing choices to its affiliated advisors, enabling flexibility in capturing opportunities in the wealth management sector.
