B. Riley Financial (RILY) Announces Strategic Investment in IQvestment Holdings

B. Riley Financial, Inc. (NASDAQ: RILY) ("B. Riley" or the "Company"), a leading business advisory and financial services company, today announced a strategic investment in IQvestment Holdings, an innovative fintech company offering an industry leading business-to-business eCommerce platform solution, as well as an SEC Registered Investment Adviser for sub-advised accounts and retail investors.

As part of the transaction, Chuck Hastings, B. Riley Wealth Management CEO, joins IQvestment Holding's board of directors, and Jon Merriman, Chief Business Officer of B. Riley Financial, joins the firm's advisory board.

"I am honored to be joining IQvestment Holding's Board of Directors and look forward to working closely with Mark Healy and his experienced leadership team," said Chuck Hastings. "As a firm, we are very excited to help grow the innovative digital platform that IQvestment has built to deliver cutting edge technology to their clients and partners."

Digital platforms, including robo-advisors, have become an attractive option over the years in large part due to their flexibility, attractive user interfaces and cheaper fees compared to traditional alternatives. IQvestments democratizes access to investing with an eCommerce platform for corporate and retail clients - helping to reduce costs and create better retention of current investors, as well as generate new revenue and relationship opportunities.

Combining the technology, business processes, and relationships of B. Riley Financial and IQvestment Holdings creates a best-in-class, end-to-end solution for B. Riley Wealth Management's retail clients and affiliate businesses through a mix of industry knowledge and a groundbreaking technology platform.

"We are pleased to announce this strategic relationship and welcome Chuck and Jon to the team," said Mark C Healy, CEO of IQvestment Holdings. "Chuck's extensive experience in the financial markets, along with his passion for integrating the digital experience into wealth management, is a key addition to our leadership team. Jon's advice and guidance, as well as his institutional and corporate relationships, will be invaluable. The strategic partnership through B. Riley adds an important dynamic for IQvestment Holdings, enhancing our ability to deliver advanced digital capabilities to our clients through our eCommerce platform."

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