B. Riley Wealth Advisors, Inc.

B. Riley Wealth Advisors, Inc. is an SEC‑registered advisory firm that manages roughly $7.03 billion in client assets through about 274 advisors and reports serving approximately 16,821 clients. The firm offers a broad suite of services — including advisory programs (wrap and non‑wrap), access to third‑party managers, financial planning, retirement solutions, and reporting — to individuals, high‑net‑worth clients, charitable organizations, corporations, and retirement plans.

BRWA delivers advice through multiple program structures, such as Advisor‑as‑Portfolio‑Manager accounts and programs operated on the Envestnet platform (separately managed accounts, unified managed accounts, and the Fund Strategists Portfolio), and also offers proprietary W.I.S.D.M. asset allocation models; accounts may be managed on a discretionary or non‑discretionary basis and IARs use a variety of research methods and model selections. Many programs are implemented via firm‑sponsored or third‑party Sub‑advisers and can be set up as directed brokerage accounts with a client‑selected custodian.

Distinctive operational features disclosed in the brochure include an affiliation with B. Riley Wealth Management (a registered broker‑dealer) and clearing relationships with National Financial Services that give rise to revenue‑sharing arrangements and incentives (for example, cash‑sweep/BDSP revenue sharing, participation in a No‑Transaction‑Fee program, transfer‑credit arrangements, and margin/securities‑based loan economics) that the firm notes could influence custodial or product recommendations. The brochure also discloses two SEC matters: a 2019 self‑reported share‑class issue that resulted in approximately $664,006 in disgorgement plus interest related to 12b‑1 fees, and a 2015 SEC order addressing disclosure and compliance deficiencies that included a $200,000 penalty and remediation undertakings.