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Richardson Wealth and Fidelity Clearing Canada Enter into Strategic Agreement Accelerating Growth Strategies of Both Companies in Canada

Toronto, ON, August 26, 2021 – Richardson Wealth Limited (Richardson Wealth), a wholly owned subsidiary of RF Capital Group Inc. (TSX: RCG) (RF Capital), and Fidelity Clearing Canada ULC announced today a strategic agreement under which Richardson Wealth will adopt Fidelity Clearing Canada’s leading advisor technology platform, fueling the digital transformation of Richardson Wealth and accelerating the ambitious growth plans of both companies.

 

Richardson Wealth investment advisors, who manage $34 billion in client assets for high net-worth families (as of June 30, 2021), will benefit from this agreement with a global leader in capabilities and scale. Fidelity’s global group of companies has over CAD $14 trillion in assets under administration (as of June 30, 2021), including CAD $4 trillion in their custody, clearing and trade settlement business.  Fidelity Clearing Canada, together with Fidelity Investments Canada ULC, represent over CAD $222 billion in assets under administration and management. (as of June 30, 2021).

 

Fidelity Clearing Canada’s uniFideTM platform will provide Richardson Wealth investment advisors with a leading suite of customizable tools to improve both the advisor and client experience.  As part of the agreement, Fidelity Clearing Canada will provide custody, clearing and trade settlement services.

 

“For many years, Fidelity Clearing Canada has made significant investments in developing innovative, client-centric wealth management solutions for investment advisors and dealers,” said Andrew Wells, Head of Fidelity Canada. “We are proud to deepen our relationship with Richardson Wealth and bring our trading, clearing and custody and trade settlement expertise and solutions to their investment advisors and clients, helping them continue to grow and succeed over the long term.”

 

“This is an exciting opportunity to continue to add scale and further position us as one of the leading providers in the Canadian investment services market,” added Scott MacKenzie, President of Fidelity Clearing Canada. “Our two businesses already have a strong working relationship and complementary corporate cultures, which will help facilitate a smooth transition to Fidelity’s uniFide technology platform.”   

 

“This is a game changer,” said Kish Kapoor, President and Chief Executive Officer of RF Capital. “Richardson Wealth and Fidelity Clearing Canada are both companies with rich family histories and a shared philosophy centred around putting advisors and their clients first. The scalability that comes from the agreement with Fidelity Clearing Canada to take advantage of their world-class technology puts us in a stronger position to focus more intently on our core business of providing exceptional wealth management services.”

Commenting further, Mr. Kapoor said, “For our shareholders, this allows us to achieve cost savings by leveraging Fidelity Clearing Canada’s scale and it moves our business to a more variable cost structure.  By partnering with a best-of-breed provider of digital solutions, we are also reducing the need for significant future technology investments and will be able to free up that capital to accelerate our organic growth and advisor recruiting to achieve our goal of tripling assets under administration to $100 billion.”

 

Subject to the receipt of necessary regulatory approvals, Richardson expects to move to Fidelity’s leading-edge advisory technology platform in fall of 2022.

 

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Richardson Wealth and Purpose Investments Deepen Relationship with Innovative Asset Management Partnership

Toronto, August 23, 2021 – Purpose Investments Inc. (Purpose), a leading Canadian asset management firm, and Richardson Wealth Limited (Richardson Wealth), one of Canada’s largest independent wealth management firms and a wholly-owned subsidiary of RF Capital Group Inc. (RF Capital) (TSX:RCG), jointly announced today that the Richardson Wealth team that sub-advises certain Purpose funds will be joining Purpose, effective September 1, 2021. The arrangement sets forth a framework for an ongoing collaborative partnership that we anticipate will help unlock growth opportunities and create a stronger platform for Richardson Wealth’s advisors to serve their clients.

With this change, Purpose will expand its investment management capabilities, accelerate its industry-leading advisor-focused portfolio models practice and enhance its research and content publishing capabilities. The team moving to Purpose will continue to provide investment management, advisory, research and publishing services without disruption to Richardson Wealth’s advisors and their clients.  Richardson Wealth’s advisors will benefit from Purpose’s rich client-centric solutions and deep investment bench strength, as well as its resources and broad range of investment opportunities.

Over the past seven years, Richardson Wealth’s fund management team has flourished to build a top-performing asset management and advisory business. They provide high-quality, objective and transparent advice through customized and tactical asset allocation services, investment manager selection, ETF strategies and direct portfolio management. The team directly manages over $1.4 billion in assets across several North American equity and multi-asset class strategies, including the five-star rated Purpose Tactical Asset Allocation Fund (RTA), Purpose Core Equity Income Fund (RDE) and Purpose Behavioural Opportunities Fund (BHAV).

Craig Basinger, the current Chief Investment Officer of Richardson Wealth, will join Purpose as Chief Market Strategist and will be joined by certain members of his team. At Purpose, Craig and the team will have access to additional resources to meaningfully accelerate the growth of their advisor-centric investment management, investment research, and portfolio model advisory platform.

This strategic relationship is aligned with our bold growth initiatives and underscores our commitment to deliver an enhanced experience for our advisors and their clients.  Our enhanced relationship with Purpose will help us achieve our vision of being the brand of choice for Canada’s top advisors and their high-net worth clients by tapping into Purpose’s investment expertise, experience, and broader asset management platform,” said Kish Kapoor, President and CEO of RF Capital.

“We are excited to welcome Craig and his team to Purpose to strengthen our capabilities as we look to accelerate the growth of our business by working closely with advisors and partners across the country,” said Som Seif, founder and CEO of Purpose.

“This enhanced relationship is a great opportunity to build on each other’s strengths, focus on growth opportunities, share intelligence, and expand offerings to our existing and new clients as part of Purpose,” said Craig Basinger.

“We look forward to building on our achievements and expanding our position as a true leader and innovator in the industry. We truly believe the best is yet to come,” concluded Seif.

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Richardson Wealth Adds Top Talent to Communications and Marketing Teams

TORONTO, August 9, 2021 /CNW/ - RF Capital Group Inc. (TSX: RCG) announced today the Communications Team and Marketing Team have been strategically broadened to include industry professionals possessing critical skills for brand promotion and development in multiple media formats.

 

Recently onboarded, this roster of top talent includes a Vice-President of Digital Strategy, a Senior Content Writer, an additional French Translator with localization specialty, two Advisor Marketing Associates and a Manager of Corporate Communications.

 

Kish Kapoor, President and Chief Executive Officer commented, “We said we would continue to add top talent to our company — and we are keeping our promises. Our marketing and communications efforts are pivotal to setting us apart as the number one choice for Canada’s top advisors and their clients. We are acutely aware that the name on our door means something. This team will help tell the remarkable Richardson Wealth story in new and exciting ways.”

 

Mike Belobradic is Vice-President, Digital Strategy. Michael will develop and execute an integrated approach to heighten our social media presence and promote the powerful Richardson brand. As a seasoned digital marketing leader, he will create growth opportunities from lead generation and important data analytics.

 

Beatrice (Trixie) Baker is Senior Content Writer. In order to connect with our audiences, a skillful writer like Trixie is crucial to developing relevant and insightful materials. Trixie has an extensive writing background in financial services.

 

Dr. Sarah Parvaiz is our French Translator and Localization Specialist. She brings more than a decade of localization, translation and interpretation experience in various industries and will ensure the utmost attention to detail with our French content.

 

Saleema Ali and Tina Sasso are Advisor Marketing Associates. They will provide customized consultation to our advisor teams leveraging their extensive marketing expertise. Saleema brings more than 15 years of industry experience with several years in marketing and communications. Tina is a bilingual professional based in Montreal. She has more than 20 years of experience in sales, marketing and event planning. 

 

Julia Teeluck is Manager, Corporate Communications. Julia will leverage her diverse storytelling and communications background, as well as a decade of wealth management experience, to solidify the company as the brand of choice for Canada’s top advisors and their high-net-worth clientele.

 

"Our new hires have the creative and technical skills necessary to effectively communicate our culture and brand value proposition to our key audiences," says Sarah Widmeyer, Director of Wealth Strategies at Richardson Wealth. “Their industry knowledge and extensive experience make them a powerhouse, and I am confident this dynamic team will strengthen our position in the market.”

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RF Capital Reports AUA of $34.1 Billion for July 2021

Toronto, August 3, 2021 – RF Capital Group Inc. (the Company) (TSX: RCG) today reported preliminary month-end assets under administration (AUA) of $34.1 billion as at July 31, 2021.  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.   


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RF Capital Reports Second Quarter Results

Toronto, July 30, 2021 - RF Capital Group Inc. (RF Capital or the Company) (TSX: RCG) today reported quarterly revenue of $79.1 million, record assets under administration (AUA) of $34 billion and adjusted consolidated EBITDA of $13.3 million for the quarter ended June 30, 2021.

“We continue to break records month-after-month, ending Q2 with record AUA of $34 billion, record fee-based revenue, and a record recruiting pipeline.  Adjusted EBITDA at Richardson Wealth nearly doubled to $15.1 million in Q2 2021 from $8.2 million in Q2 of last year, and increased 7% from the $14.1 million recorded in Q1 2021.  These strong results reflect the tremendous collaborative effort at every level of our organization to make us the brand of choice for Canada’s top advisors and their clients”, said Kish Kapoor, President and CEO.

Commenting further, Mr. Kapoor said, “Our bold and audacious growth strategy is gaining momentum.  As a result of the many organic growth initiatives underway, we have elevated the advisor experience and enhanced the recruiting value proposition for Canada’s top advisors.  All of this will have long-lasting and positive implications on value creation for all stakeholders.”

[1] Richardson Wealth’s operating results pre-October 20, 2020 are for reference purposes and were not fully consolidated into RF Capital’s financial statements.
[2] Adjusted results are considered to be a non-GAAP financial measure. Such measures do not have any standardized meaning prescribed by GAAP under IFRS and are therefore unlikely to be comparable to similar measures presented by other issuers. For further information please read the “Presentation of Financial Information and Non-GAAP Measures” at the end of this press release.

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Richardson Wealth Adds Significant Talent to its National Tax and Estate Planning Team

TORONTO, July 26, 2021 /CNW/ - RF Capital Group Inc. (TSX: RCG) announced today that Christopher J. Curtis, Alysha To and Matthew Castling have joined the national Tax and Estate Planning team, supporting the Western Canadian Region of its wholly-owned subsidiary, Richardson Wealth Limited.

“Tax and estate planning is a cornerstone of our wealth management offering. These key hires have the necessary skills and experience to provide incredible value to our advisors and high-net-worth clients in Western Canada. By choosing Richardson Wealth for the next chapter of their careers, they signal that our bold growth initiative to attract the industry’s top talent is succeeding,” says Kish Kapoor, President and Chief Executive Officer.

Mr. Curtis will serve as Vice President, Western Region, Winnipeg, and brings significant accounting and legal experience to Richardson Wealth. He was previously an accountant in private practice, and after being called to the Manitoba Bar, he joined Canada Life as in-house counsel. His subsequent years working as a wealth and tax planning consultant will be particularly beneficial to our advisory teams.

Joining us as a Senior Financial Planner, Western Region, Vancouver, Ms. To will provide our clients with comprehensive wealth services, including expert insights on tax, intergenerational wealth transfer, philanthropy, and strategic retirement and estate planning. Alysha joins us from Canaccord and is an active member in the industry, serving as Chair of the Programs Committee for the Society of Trust and Estate Practitioners (STEP) Vancouver Executive. She also serves as a mentor to students through various organizations, including Junior Achievement of British Columbia.

Mr. Castling joins us as a highly experienced Financial Planner, Western Region, Calgary. Having started his financial planning career in 2013, he has consistently progressed to work on more complex and sophisticated planning for high-net-worth families. His career path started at T.E. Wealth and progressed through various positions at banking institutions in British Columbia. In addition to holding the Certified Financial Planner (CFP®) designation, Matthew has a Bachelor of Business Administration and Diploma of Technology (Personal Financial Planning) from the British Columbia Institute of Technology.

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RF Capital to Announce Second Quarter 2021 Results July 30, 2021

TORONTO, ON. (July 13, 2021) – RF Capital Group Inc. (TSX: RCG) will release its second quarter 2021 financial results on Friday, July 30, 2021 at approximately 7:00 a.m. (EST).

 

SECOND QUARTER CONFERENCE CALL

A conference call and live audio webcast to discuss RF Capital’s second quarter 2021 results will be held that morning at
10:00 a.m. (EST). 
Interested parties are invited to access the quarterly conference call on a listen-only basis by dialing 416-406-0743 or 1-800-898-3989 (toll free) and entering participant passcode 5808679#, or via live audio webcast at https://rfcapgroup.com/Investor-Relations/Quarterly-Information. A recording of the conference call will be available until Monday, August 30, 2021, by dialing 905-694-9451 or 1-800-408-3053 (toll free) and entering access code 2087125#. The webcast will be archived at https://rfcapgroup.com/Investor-Relations/Quarterly-Information.

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Jan Sampson Joins Richardson Wealth to Support Ambitious Growth Agenda

TORONTO, July 5, 2021 /CNW/ - RF Capital Group Inc. (TSX: RCG) (the Company) announced today that Jan Sampson has joined as Director, Operations for its wholly owned subsidiary, Richardson Wealth Limited (Richardson Wealth).

Ms. Sampson joins the Company from CI Financial where she was Senior Vice President, Client Experience. Prior to that, she was Vice President, Channel Initiatives at Assante Wealth Management. With a continually escalating, multi-disciplinary background, Jan has exceptional experience in the financial services industry and proven ability to innovate, drive operational effectiveness and deliver improved results.

"Jan is a results-driven professional with considerable hands-on experience building and leading teams through organizational transformation, acquisitions and corporate growth. Her incredible capacity to drive critical change makes her an excellent fit as we accelerate the execution of our digital transformation agenda and growth initiatives" said Kish Kapoor, President and Chief Executive Officer. "Jan's appointment is another example of our commitment to add bench strength to an already impressive team of top talent to help us deliver on our promise to continually enhance the advisor and client experience."

Jan is also an advocate of Diversity & Inclusion as a founding member of an employee mentoring program for women and volunteering with organizations such as NEXT Canada and the Children's Aid Foundation of Canada. This important work also aligns to Richardson Wealth values.

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RF Capital Reports Record AUA of $34 Billion for June 2021

Toronto, July 5, 2021 – RF Capital Group Inc. (the Company) (TSX: RCG) today reported preliminary month-end assets under administration (AUA) of $34.0 billion as at June 30, 2021, which represents another all-time high for the Company.  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.   

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RF Capital Announces Retirement of Julie Lassonde From Board of Directors

TORONTO, July 2, 2021 /CNW/ - RF Capital Group Inc. (the Company) (TSX: RCG) today announced Julie Lassonde is retiring from the Company's Board of Directors (the Board) to focus more time on the extensive business interests of the Lassonde family, the Pierre Lassonde Family Foundation, and her other philanthropic and social impact initiatives.  Ms. Lassonde has served on the Board since 2018, served as the chair of the Governance Committee and was a member of the Audit Committee.  Following today's announcement, the Company's Board is comprised of 10 members.

Don Wright, Chair of the Board said, "Julie's strategic insights and active engagement have helped guide our transformation into the leading independent wealth management-focused firm we are today.  She played an instrumental role as a member of the independent Special Committees that oversaw the sale of our legacy capital markets business and the consolidation of Richardson Wealth.  Julie was also involved with the recent addition of significant new talent to our Board.  On behalf of the Board, I extend our gratitude and best wishes to Julie."

Julie Lassonde said, "It has been a privilege to work alongside such talented and dedicated Board members.  I am happy that RF Capital (and its extended Richardson Wealth family) now has a bold and audacious growth strategy, considerable operating momentum and a highly experienced leadership team in place to deliver on its promises."

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