B. Riley Names Head of Wealth Management Strategy

B. Riley Financial Inc. has named Chuck Hastings as director of wealth management strategic initiatives, the company announced Friday. The Woodland Hills investment bank said Hastings will serve as a liaison between B. Riley Wealth Management and Wunderlich Securities Inc., a subsidiary of B. Riley Financial. In addition, he will look to identify and hire established financial advisors to expand the firm’s network of full-service wealth management locations. Wunderlich was acquired by B. Riley Financial in mid-2017 and has since gained access to an industry-leading equity research and investment banking platform provided by its affiliate, B. Riley FBR Inc. Additionally, the firm’s advisors may leverage other investment opportunities developed by other B. Riley Financial entities to serve their high net worth clients. Hastings also serves as a portfolio manager at B. Riley Asset Management, where he manages assets across a mutual fund, a hedge fund and managed accounts. “We are extremely pleased to have Chuck take on this key role for our wealth management operation,” said Bryant Riley, chairman of B. Riley Financial. “Chuck was instrumental in the recent opening of Wunderlich’s first branch in Los Angeles. His enthusiasm, knowledge of the B. Riley Financial platform and connections throughout the industry will be invaluable as we look to expand.” Prior to joining B. Riley Asset Management, Hastings was head of trading for GPS Partners LLC, where he traded in equities, fixed income securities, options and commodities for a $3.5 billion MLP-focused hedge fund. He is based at B. Riley’s Los Angeles office. Shares of B. Riley (RILY) closed Friday up 45 cents, or 2.4 percent, to $19.05 on the Nasdaq.