RF Capital Commences Monthly Reporting of Assets Under Administration at Richardson Wealth
TORONTO, Dec. 2, 2020 /CNW/ - RF Capital Group Inc. ("RF Capital") (TSX: RCG) today announced it will commence reporting assets under administration ("AUA") at Richardson Wealth Limited (Richardson Wealth) on a monthly basis as opposed to quarterly. AUA is a key performance indicator and one of the financial measures used by management, investment advisors and RF Capital shareholders to assess Richardson Wealth's operating performance.
AUA ($billions) | November 30, 2020 | October 31, 2020 | % Change |
AUA1 | $29.6 | $28.2 | 5.0% |
1. The Company cautions that AUA is considered to be a non-GAAP financial measure. This measure does not have any standardized meaning prescribed by GAAP under IFRS and is therefore unlikely to be comparable to similar measures presented by other issuers. |
ABOUT RF CAPITAL GROUP INC.
RF Capital Group Inc. (RF Capital) currently operates through two business segments: Wealth Management and Operations Clearing; and a Corporate segment. Wealth Management consists of RF Capital's wholly owned subsidiary Richardson Wealth. Richardson Wealth is one of the largest independent wealth management firms in Canada with $29.6 billion in assets under administration (as at November 30, 2020) and 19 offices across the country. The firm's growing roster of Advisor teams (162 as at November 30, 2020) focus exclusively on providing strategic wealth advice and innovative investment solutions customized for each high net worth or ultra-high net worth client family, entrepreneur or business owner. Operations Clearing, through RF Securities Clearing LP (formerly GMP Securities L.P.), provides carrying broker services to Richardson Wealth and other third parties, including trade execution, clearing, settlement, custody, and certain other middle- and back-office services, and other expenses associated with providing such services. RF Capital is listed on the Toronto Stock Exchange under the symbol "RCG". For further information, please visit our corporate website at www.rfcapgroup.com.
ABOUT RICHARDSON WEALTH
The next generation of wealth.TM
One of Canada's leading independent wealth management firms, Richardson Wealth provides strategic wealth advice and innovative investment solutions customized for high net worth and ultra-high net worth families and entrepreneurs. The firm is committed to maintaining exceptional fiduciary standards and has earned certification – determined annually – from the Center for Fiduciary Excellence for the Separately Managed and Portfolio Management Account platforms. Richardson Wealth has also been recognized as a Great Place to Work™ for the past three years. For further information, please visit our corporate website at www.RichardsonWealth.com.
SOURCE RF Capital Group Inc.
View original content: http://www.newswire.ca/en/releases/archive/December2020/02/c5414.html