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Richardson Wealth on list of Best Workplaces™ in Financial Services and Insurance

TORONTO, October 5, 2021 - Richardson Wealth on list of Best Workplaces™ in Financial Services and Insurance by Great Place to Work®, a global authority on workplace culture. This is the fifth accreditation Richardson Wealth has received this year along with Top 50 Best Workplaces™, Best Workplaces™ for Women, Best Workplaces™ for Mental Wellness, and Best Workplaces™ in Ontario.

“When our own people tell us we’re doing things right, we couldn’t ask for a stronger endorsement. Being listed as a Best Workplace in Financial Services and Insurance is an acknowledgement of our culture of high standards and excellence in everything we do. It also is a testament that we are a company where people can place their trust—a Richardson family legacy,” says Kish Kapoor, President and CEO, RF Capital Group.

Richardson Wealth received this honour after a thorough and independent analysis conducted by Great Place to Work®. The list is based on direct feedback from employees of the hundreds of organizations that were surveyed by Great Place to Work®. The data has a 90% confidence and a plus or minus 5% margin of error.  

“It’s not just our own people who are endorsing us. The best and brightest in the industry are also starting to see exactly what is behind the name on our door. Since June of this year alone, we have welcomed Morson Carson Wealth Counsel from Comox, B.C., Andrew Masson, The Conlin Group, Kamel Wealth Management and The Susan O’Brien Group Wealth Advisory—all from Calgary, Borisoff Wealth Management from Vancouver, and Marcel Latreille from Ottawa,” says Kish Kapoor. “Both inside and outside Richardson Wealth, we are being endorsed by the most seasoned top talent in the industry.”

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Joseph Bakish and Francis Sabourin named to Five Star Advisor List

TORONTO, October 5, 2021 - Richardson Wealth Limited (Richardson Wealth), a wholly owned subsidiary of RF Capital Group Inc. (TSX: RCG) announced today that Joseph Bakish and Francis Sabourin named to Five Star Advisor List (Quebec region).  This recognition celebrates Canada’s top advisors based on the value proposition they offer to clients. 

“We congratulate Joseph and Francis for this well-deserved recognition.  What is particularly noteworthy is that the top-scoring category for Five Star Advisors in Quebec was client trust. Francis and Joseph continue to do an excellent job at cultivating trusted relationships by delving deep into their clients’ unique circumstances and then coming up with potential strategies to help them achieve their goals”, said Kish Kapoor, President and Chief Executive Officer.  “It is clear that Richardson Wealth boasts a wealth of advisor talent across the country, and we continue to attract even more top advisors opting for the personal white-glove experience that we provide.”

Five Star Advisors’ recognition was based on investors rating their advisor in six key areas: communication, portfolio performance, product knowledge, client trust, client knowledge and customer service. 

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Ida Khajadourian and Rosemary Horwood named to Five Star Advisor List

TORONTO, October 4, 2021 - Richardson Wealth Limited (Richardson Wealth), a wholly owned subsidiary of RF Capital Group Inc. (TSX: RCG) announced today that Ida Khajadourian and Rosemary Horwood named to Five Star Advisor List.  This recognition celebrates Canada’s top advisors for demonstrated excellence in the investment industry.

“We congratulate Ida and Rosemary for this well-deserved recognition.  They possess a critical ability to engage with clients and build long-standing trusted relationships by understanding the responsibility of every decision they make”, said Kish Kapoor, President and Chief Executive Officer.  “They continue to champion the power of women in our industry and personify the true spirit of entrepreneurship, collaboration and innovation that is synonymous with the Richardson Wealth brand.”

Five Star Advisors’ recognition was based on investors rating their advisor in six key areas: communication, portfolio performance, product knowledge, client trust, client knowledge and customer service. 

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RF Capital Reports AUA of $34.5 Billion for September 2021

Toronto, October 4, 2021 – RF Capital Group Inc. (the Company) (TSX: RCG) today reported preliminary month-end assets under administration (AUA) of $34.5 billion as of September 30, 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 Announces Revolving Credit Facility to Pursue Aggressive Growth Strategy

Toronto, ON, September 10, 2021 – RF Capital Group Inc. (the Company) (TSX:RCG) announced today it has secured a $200 million revolving credit facility (the Facility) with a syndicate of lenders (the Lenders). The initial authorized principal of the Facility is $125 million. The Facility also includes an accordion provision that will enable the Company to request increases in the total commitment, under the same terms, by an aggregate amount of up to $75 million, subject to the Lenders’ approval.

"This new facility will provide us with substantial capacity to deliver on our vision to be the brand of choice for Canada’s top advisors and their high net worth clients, and to create greater value for shareholders. Combined with our strong current and future operating cash flows, which we expect to improve as a result of the agreement we recently announced with Fidelity, and our excess working capital, this $200 million facility will provide us with ample funding and flexibility to repay our existing debt and to further accelerate our organic growth, recruiting and other strategic corporate development initiatives,” said Kish Kapoor, President and Chief Executive Officer.

The interest rate on the Facility will be approximately 25 to 75 basis points less than what the Company pays on its existing debt facility. The Facility will bear interest at a spread over prescribed benchmark rates, with the spread depending on the Company’s leverage at the time that it draws on the Facility. The Facility has an initial two-year term with an option for additional one-year terms, subject to the Lenders’ approval.

"The Facility will provide us with access to growth capital at attractive terms. That outcome reflects the strength of our franchise, our stable ownership structure, the power of the Richardson brand and our compelling growth strategy. We appreciate the great sense of partnership, commitment and belief in our ambitious strategy that our lenders demonstrated as we work towards this great result for shareholders,” said Tim Wilson, Chief Financial Officer.

Canadian Imperial Bank of Commerce (CIBC) will act as Sole Bookrunner and Administrative Agent, with CIBC and BMO Capital Markets acting as Co-lead Arrangers, and with significant support from Canadian Western Bank and the Bank of China. The closing of the Facility is subject to regulatory approval and other customary conditions.

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RF Capital Announces Newly Created Head of Corporate Development to Spearhead Recruitment Initiatives, Strategic Partnerships and Acquisitions

TORONTO, September 8, 2021 - RF Capital Group Inc. (TSX: RCG) (the Company) announced today that Natalie Bisset has joined as Senior Vice President, Head of Corporate Development for its wholly owned subsidiary, Richardson Wealth Limited (Richardson Wealth), effective today.

Natalie is a proven leader with over 15 years’ experience spanning wealth management, private equity, business development and stakeholder relations.  She spent the last six years at BMO, where she held progressive roles including Director, Innovation and Strategic Initiatives and Senior Partner, Business Acquisition in Private Wealth.  During her tenure, Natalie was, amongst other things, responsible for the acquisition of wealth management practices and creating growth opportunities.   

“We are thrilled that Natalie has chosen to join the talented leadership team at Richardson Wealth at such a critical juncture in our growth story.  She represents the next generation of leaders at our firm.  Her appointment will supercharge our recruiting objectives and lays the groundwork for pursuing partnerships and acquisitions of like-minded firms”, said Kish Kapoor, President and Chief Executive Officer.

Commenting further, Mr. Kapoor said, “Ms. Bisset is a results-driven professional with a proven track record of helping fast-paced, entrepreneurial, and dynamic organizations build innovative business development and value-creation strategies. This is another proof point that our exciting growth story is resonating with the industry’s high-caliber talent.”

 

Natalie earned her MBA from Ivey School of Business and currently sits on the Executive Committee for the Ivey Alumni Network Board of Directors.  She is also deeply engaged in her community including mentoring young entrepreneurs, supporting various social impact organizations, and championing initiatives that enhance women’s wellness, education and diversity, equity, and inclusion. 

   

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RF Capital Reports Record AUA of $34.6 billion for August 2021

Toronto, September 1, 2021 – RF Capital Group Inc. (the Company) (TSX: RCG) today reported preliminary record month-end assets under administration (AUA) of $34.6 billion as of August 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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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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