RF Capital Reports Record Q2 2022 Results

  • Highest quarterly Adjusted EBITDA since becoming a pure-play wealth management firm in late 2020
  • AUA down amid challenging market conditions but revenue diversification helps fuel growth
  • Continued recruiting momentum  

Toronto, July 28, 2022
- RF Capital Group Inc. (RF Capital or the Company) (TSX: RCG) today reported record quarterly revenue of $90.8 million; up 15% from Q2 a year ago. The increase in revenue was driven largely by record insurance revenue and higher interest income which was a function of rising benchmark rates. Consolidated Adjusted EBITDA4 was $16.6 million this quarter compared with $13.3 million a year ago. Reported net income was $0.1 million, a $1.9 million improvement from the same period last year. Wealth Management Adjusted EBITDA was $18.3 million, up 18% from $15.5 million last year.

Kish Kapoor, President and Chief Executive Officer, commented, “We were able to achieve record-breaking results this quarter in very difficult operating conditions, demonstrating our success in diversifying the firm’s sources of revenue. We grew Wealth Management Adjusted EBITDA1 by 18% over Q2 last year and by 40% over Q1 despite volatile markets. These increases were largely due to revenue tailwinds from increasing benchmark interest rates and insurance revenue as we continue expanding our in-house insurance capabilities. We should continue to benefit from higher interest rates throughout the year though expect insurance revenue to tail off  from the record level in Q2. In the face of ongoing market volatility, we will manage our operating expenses prudently.”

Commenting further, Mr. Kapoor said, “The wealth management industry is experiencing a confluence of market conditions that we haven’t seen for almost 50 years. In times of financial stress, we are reminded that the value of face-to-face advice cannot be underestimated. By focusing on the long-term and by emphasizing the importance of a holistic financial planning-led approach to wealth management, our advisors are stepping up to help their clients navigate the current uncertainty.”


RF Capital to Announce Second Quarter 2022 Results

TORONTO, ON. (July 7, 2022) – RF Capital Group Inc. (the Company) (TSX:RCG) will release its second quarter 2022 financial results and host an earnings conference call on Friday, July 29, 2022.

Financial results will be issued via earnings release at approximately 7:00 a.m. ET.  A conference call and live audio webcast to discuss the Company’s second quarter results will be held that morning at 10:00 a.m. ET. Interested parties are invited to access the quarterly conference call on a listen-only basis as follows:


RF Capital Reports AUA of $33.9 Billion for June 2022

Toronto, July 4, 2022 – RF Capital Group Inc. (the Company) (TSX: RCG) today reported preliminary month-end assets under administration (AUA) of $33.9 billion as of June 30, 2022. AUA decreased 5.1% in June 2022 compared with declines in the S&P/TSX Composite and S&P 500 indices of 9.0% and 8.4%, respectively, over the same period. 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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