RF Capital Group Inc.
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TORONTO, Dec. 2, 2024 /CNW/ - RF Capital Group Inc. (the Company) (TSX: RCG) today reported preliminary month-end assets under administration (AUA) of $40.2 billion as of November 30, 2024, up $0.8 billion or 2.2% from last month and $5.0 billion or 14.2% since year-end 2023. AUA is a key performance indicator and one of the financial measures used by management, investment advisors and the Company's shareholders to assess operating performance.
Dave Kelly, the Company's President and CEO, commented: "Last week, we achieved a major milestone in our company's journey. We hit $40 billion in AUA for the first time in our history." Mr. Kelly continued, "As the engines of our success, our advisory teams' perseverance and commitment during challenging times led us to this meaningful moment for Richardson Wealth. They are to be congratulated for all they do for their clients."
TORONTO, Nov. 13, 2024 /CNW/ - RF Capital Group Inc. ("RF Capital" or the "Company") (TSX: RCG) today announced the appointment of Francis C. Baillargeon as Chief Financial Officer ("CFO") following a comprehensive internal and external search process. Mr. Baillargeon will join the Company effective November 18, 2024.
"Francis is an entrepreneurial leader who possesses a deep understanding of the wealth management industry," said Dave Kelly, President and Chief Executive Officer of RF Capital. "He has a strong understanding of, and exposure to, risk management, investor relations, corporate development and M&A in a growth environment. We think he is a great fit for our company, our culture and our team."
Q3 2024 Financial Highlights(as compared to Q3 2023)
AUA1,2 and Revenue
Ending AUA1,2 increased to $39.0 billion, up 12% or $4.3 billion, primarily driven by strong equity markets and recruitingTotal revenue increased 5% to $91.9 million, led by a 7% increase in fee revenueProfitability and Cash Flow
Net loss from continuing operations was $2.3 million compared to $0.2 millionAdjusted EBITDA1 of $12.5 million down $4.4 million, as revenue growth was offset by higher adjusted operating expensesCash from operating activities was $16.0 million, down 4%Free cash flow available for growth1 declined 44% to $6.2 millionFree cash flow1 was down by $2.3 million to $3.9 million, primarily due to higher advisor recruiting paymentsTORONTO, Nov. 1, 2024 /CNW/ - RF Capital Group Inc. (the Company) (TSX: RCG) today reported preliminary month-end assets under administration (AUA) of $39.4 billion as of October 31, 2024, up $0.4 billion or 0.9% from last month and $4.1 billion or 11.7% since year-end 2023. AUA is a key performance indicator and one of the financial measures used by management, investment advisors and the Company's shareholders to assess operating performance.
AUA ($ billions)
October 31,2024
September 30,2024
% Change Month-Over-Month
AUA1
$39.4
$39.0
0.9 %
TORONTO, Oct. 3, 2024 /CNW/ - RF Capital Group Inc. (the Company) (TSX: RCG) is scheduled to release its third quarter 2024 financial results on Thursday, November 7, 2024, after market close. An earnings conference call and live audio webcast will be held on Friday, November 8, at 10:00 a.m. (EST). The call will be hosted by Dave Kelly, President and Chief Executive Officer, followed by a question-and-answer period with investment analysts.
Interested parties are invited to access the first quarter earnings conference call on a listen-only basis by dialing 416-340-2217 or 1-800-806-5484 (toll free) and entering participant passcode: 7715540#. The conference call will also be accessible as a live audio webcast through the Investor Relations section of the Company's website at https://richardsonwealth.com/investor-relations/financial-information/.
TORONTO, Oct. 1, 2024 /CNW/ - RF Capital Group Inc. (the Company) (TSX: RCG) today reported record preliminary month-end assets under administration (AUA) of $39.0 billion as of September 30, 2024, up $0.7 billion or 1.7% from last month, and $3.8 billion or 10.7% since year-end 2023. AUA is a key performance indicator and one of the financial measures used by management, investment advisors and the Company's shareholders to assess operating performance.
AUA ($ billions)
September 30,2024
August 31,2024
% Change Month-Over-Month
AUA1
$39.0
$38.3
1.7 %
TORONTO, Sept. 16, 2024 /CNW/ - Richardson Wealth Limited (Richardson Wealth), a wholly-owned subsidiary of RF Capital Group Inc. (TSX: RCG), is pleased to announce that Ben Troiani, Portfolio Manager, Wealth Advisor, and Investment Advisor and Troiani Wealth Management, today joins the firm, adding to their Southwestern Ontario presence.
"We invite like-minded teams to join our firm – advisors who see the opportunity to create practices that reflect their own values and philosophies and those who also respect our rich history in the industry. This means we give our advisors the power to do what is best for them so they can best serve their clients," says Kish Kapoor, President and Chief Executive Officer, Richardson Wealth. "We also strive to attract advisory teams who appreciate a highly entrepreneurial culture. Ben Troiani and our Richardson Wealth team see eye-to-eye. Teams like this help us to continue building a strong and highly reputable place for Canada's top advisors."
TORONTO, Sept. 3, 2024 /CNW/ - RF Capital Group Inc. (the Company) (TSX: RCG) today reported preliminary month-end assets under administration (AUA) of $38.3 billion as of August 31, 2024, consistent with last month, up $3.1 billion or 8.8% since year-end 2023. AUA is a key performance indicator and one of the financial measures used by management, investment advisors and the Company's shareholders to assess operating performance.
AUA ($ billions)
August 31,2024
July 31,2024
% Change Month-
Over-Month
AUA1
$ 38.3
$38.3
0.1 %
2023 Financial Highlights(as compared with 2022)
AUA1,2 and Revenue
Ending AUA1,2 increased to $35.2 billion, up 1% or $288 millionTotal revenue was consistent with 2022, declining 1% to $351 millionProfitability and Cash Flow
Gross margin increased 1% to $206 million, partly due to revenue mixNet income from continuing operations declined to $(9.8) million, due to higher interest expenseAdjusted EBITDA1 decreased 3% to $59.5 million, reflecting 2.6% growth in adjusted operating expensesCash used in operating activities was $268 million, reflecting the fact that Fidelity now custodies our clients' cash and it is no longer reported as cash on our balance sheetFree cash flow available for growth1 decreased 12% to $35.4 million, mainly because of higher interest expenseFree cash flow1 was up by $7.3 million to $(2.6) million, due to lower capital expenditures for office build outs
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