B. Riley Expands Wealth Management Division with Addition of Jay Murphy

Rhea-AI Summary

B. Riley Wealth has welcomed Jay Murphy as a Senior Managing Director of Investments. Murphy, with over 40 years of experience, is tasked with serving high-net-worth clients. His hiring aligns with the firm's recent relocation to Boston's financial district at 10 Post Office Square. The firm manages over $25 billion in assets and boasts a team of around 500 financial advisors.

Murphy's prior experience includes positions at Deutsche Bank and Credit Suisse, enhancing B. Riley's expanding wealth management platform.

Positive

• Addition of Jay Murphy enhances B. Riley Wealth's leadership team.
• Murphy's extensive experience in private wealth management may attract more high-net-worth clients.
• B. Riley Wealth's assets under management exceed $25 billion, indicating strong market presence.

Negative

• None.

Experienced Private Wealth Investment Manager Joins B. Riley Wealth Boston Branch

LOS ANGELES, Sept. 19, 2022 /PRNewswire/ -- B. Riley today announced that Jay Murphy has joined as a Senior Managing Director of Investments with B. Riley Wealth, one of the fastest-growing wealth management firms in the country. Murphy is an experienced investment manager and financial advisor who caters to high and ultra-high-net-worth individuals and family offices. He is based in the firm's Boston, MA branch location. His addition coincides with the branch's recent relocation to Boston's financial district at 10 Post Office Square.

B. Riley offers one of the most dynamic private wealth and investment management platforms in the country.

"We are pleased to welcome Jay and his talents to B. Riley, and look forward to expanding our presence in Boston," said Chuck Hastings, co-CEO of B. Riley Wealth. "Jay represents the caliber of service and integrity that our firm offers, as well as the requisite experience to cater to the complex needs of a sophisticated client base. With access to uniquely diverse and proprietary services, our firm offers growth-minded advisors and clients one of the most expansive private wealth and investment management platforms in the country."

Murphy brings more than 40 years of experience in investment advisory, portfolio management, and brokerage to his clients. He has extensive experience writing investment policies and in advising, constructing, and monitoring multi-manager portfolios for wealthy families, fiduciaries, retirement plans, and foundations. In addition to investment advisory and management, Murphy works with private institutional clients on private equity and real estate investment solutions. He was previously associated with Alex. Brown, a division of Raymond James, and has worked in the private wealth management divisions of Deutsche Bank and Credit Suisse. Murphy began his career as a traditional stockbroker at Merrill Lynch.

"I'm pleased to join a dynamic and growing platform that offers such a diverse mix of unique solutions and opportunities that can allow me to continue to serve my clients' needs exceptionally well," said Murphy.

B. Riley Wealth includes approximately 500 experienced financial advisors and registered representatives serving customers nationwide. The firm offers comprehensive consultative financial planning services and solutions spanning securities brokerage, investment management, variable insurance products, and tax planning and preparation services. Representatives leverage the diverse resources and expertise offered by other B. Riley companies to meet their clients' unique financial needs. Services offered by B. Riley affiliates include investment banking, capital markets solutions, equity research, real estate advisory, forensic accounting, litigation support, appraisal, and valuation services. B. Riley Wealth had more than $25 billion in assets under management as of August 2022.

About B. Riley Wealth

With offices coast to coast, B. Riley Wealth is a leading private wealth and investment management platform that provides comprehensive, collaborative financial solutions to individuals and families, businesses and institutions, non-profits, trusts, foundations, and endowments. Securities and variable insurance products are offered through B. Riley Wealth Management; fee-based asset management and advisory services are offered through B. Riley Wealth Advisors; insurance products, including fixed annuities (but not variable products) are offered through B. Riley Wealth Insurance Corporation; and tax preparation and accounting services are offered through B. Riley Wealth Tax Services. For more information, visit https://brileywealth.com and follow @BRileyWealth on Twitter.

B. Riley Wealth is a subsidiary of B. Riley Financial (Nasdaq: RILY). B. Riley refers to B. Riley Financial, Inc. and/or one or more of its subsidiaries or affiliates.

 

Business Contact Kathy Ridley B. Riley Wealth kathyridley@brileywealth.com (617) 951-6904

Media Contact Jo Anne McCusker B. Riley Financial press@brileyfin.com (646) 885-5425

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SOURCE B. Riley Financial

FAQ

Who is Jay Murphy and what is his role at B. Riley Wealth?

Jay Murphy has joined B. Riley Wealth as a Senior Managing Director of Investments, bringing over 40 years of experience in investment advisory.

What is the recent development in B. Riley Wealth's Boston branch?

B. Riley Wealth has relocated its Boston branch to the financial district at 10 Post Office Square.

How much assets does B. Riley Wealth manage?

As of August 2022, B. Riley Wealth manages over $25 billion in assets.

What kind of clients does Jay Murphy serve at B. Riley Wealth?

Jay Murphy primarily serves high and ultra-high-net-worth individuals and family offices.

What companies has Jay Murphy worked for in the past?

Murphy has held positions at Alex. Brown, Deutsche Bank, and Credit Suisse.