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Friday, Jul 19, 2024

B. Riley Combines Wealth Management Shops

B. Riley Financial Inc.’s subsidiary, stock brokerage and investment advisory Wunderlich Securities Inc., will change its name to B. Riley Wealth Management Inc. Wunderlich is expected to be fully rebranded with the new name by later this year. The Woodland Hills financial services company acquired Memphis-based Wunderlich last year, adding more than 180 financial advisors and around $8 billion in assets. “Since the acquisition last year, Wunderlich has not only expanded and strengthened our platform in various areas but has also positioned our firm to hold one of the most comprehensive wealth management platforms in the industry,” Chief Executive Bryant Riley said in a statement. “Through this effort, we aim to strengthen the firm’s position in the external marketplace as we continue to grow and evolve in new and existing markets.” Wunderlich will be combined with another B. Riley subsidiary, MK Capital Advisors, to form B. Riley Wealth Management. MK Capital will continue to operate as a registered investment advisor within the new entity. Logix #1 Logix Federal Credit Union in Burbank was ranked as California’s top credit union by Forbes in an article published June 28. The magazine partnered with market research firm Statista to survey more than 25,000 bank and credit union customers from all 50 states. The rankings were based on overall satisfaction, trust, terms and conditions, branch services, digital services and financial advice. “We’re so proud of this recognition from Forbes, based on the publisher’s reputation, the objective criteria used in their analysis and the results that validate our efforts to help Logix members thrive,” said Chief Executive Dave Styler in a statement. “More than two-thirds of our new members are referred to us by family and friends of existing members, and this honor confirms their confidence in Logix.” Logix has more than 700 employees and operates branches in the San Fernando, Santa Clarita and Antelope valleys as well as Ventura County. CalArts’ Finance VP California Institute of the Arts, or CalArts, has named Maeesha Merchant as vice president of finance and operations, the Valencia university announced June 29. Merchant had served in the position in an interim basis for the past 10 months. “We came to know Maeesha during her time as Interim VP and have witnessed the significant strengths that she brings to this position,” said CalArts President Ravi Rajan in a statement. Prior to joining CalArts, Merchant worked in strategy and operations at Deloitte Consulting LLP for more than 10 years. She was also co-founder and chief executive of education technology startup Andromeda Solutions. Digital Bills Software company Input 1 LLC will provide SNAP Financial Group with a digital billing platform, the Woodland Hills-based company announced June 25. SNAP offers loan services — including securing approvals and interest rates and providing payment solutions — for businesses and homeowners in the U.S. and Canada. The company is based in Vancouver, British Columbia. Input 1’s billing platform will help SNAP manage its finance portfolio and streamline the payment process for its customers. “SNAP is a very progressive organization that thinks about their business from a customer-centric standpoint,” said Chief Executive Todd B. Greenbaum in a statement. New Cryptocurrencies BitcoinIRA.com, a platform that allows customers to purchase Bitcoins and other cryptocurrencies for their retirement accounts, has added two new forms of cryptocurrencies. The two new coins, Stellar Lumens and Zcash, join Bitcoin IRA’s other digital offerings including Bitcoin, Ethereum and Ripple, the Woodland Hills company announced June 19. Proponents of cryptocurrencies say they offer buyers a more secure and private alternative to traditional currencies. They are used increasingly by companies, banks and hedge funds in a range of financial products and derivatives. “Both Zcash and Stellar Lumens have established their influence in the competitive cryptocurrency space,” said Chief Executive Camilo Concha in a statement. “Zcash’s zero-knowledge cryptography is a powerful solution to privacy concerns regarding visibility of transaction history. And Stellar Lumens, with its impressive partnerships, fast transaction times and altruistic mission, has also established itself as a valuable currency to look out for.” A privately funded company, Bitcoin IRA processed more than $300 million in investments in 2017. Staff Reporter Ethan Varian can be reached at (818) 316-3130 or [email protected].

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