RF Capital Reports AUA of $37.0 Billion for March 2024, up $1.8 Billion year-to-date

Toronto, April 1, 2024 – RF Capital Group Inc. (the Company) (TSX: RCG) today reported preliminary month-end assets under administration (AUA) of $37.0 billion as of March 31, 2024, up $0.8 billion or 2.2% from last month and $1.8 billion or 5.1% 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)March 31, 2024February 29, 2024% Change Month-Over-Month

1. Assets under administration (AUA) is a measure of client assets and is common to the wealth management business. AUA represents the market value of client assets managed and administered by Richardson Wealth Limited, including U.S. RIA, off-book, and Connected Wealth assets on which the Company earns commissions and fees.

Richardson Wealth has just welcomed Kevin Shubley and Steve Hunter, two new leaders who will strengthen the Company’s ability to achieve its strategic growth targets.

Mr. Shubley, an experienced executive with over three decades of experience in wealth management, has joined Richardson Wealth as Vice President, Business Strategy & Analysis. Most recently, Mr. Shubley worked at Gluskin Sheff & Associates as Vice President, Head of Strategic Initiatives. Prior to that, he was at TD Bank and in his most senior role oversaw a line of business that managed over $37 billion in AUM for high-net worth and institutional clients.

Mr. Hunter has joined Richardson Wealth as Branch Manager for Southwestern Ontario. His track record includes 12 years managing the London and Sarnia TD Wealth branches, during which time he helped to grow the business to over $7 billion AUA and attracted over 70 people to the office. Prior to branch management, Steve was an advisor for nine years.

Dave Kelly, Richardson Wealth’s Chief Operating Officer, said, “I am excited by these additions to our leadership. Having worked with Kevin at Gluskin and at TD for many years, I have seen first-hand what he can achieve, and he is inspiring. Similarly, Steve has an impressive track record of growing and managing successful branches. Both share our deep conviction that advisors are our clients. In their respective roles, Kevin and Steve will be focused on the first pillar of our strategy, driving organic growth by doubling down on advisor support.”

Steve will be succeeding Serge Zaina, the long-standing Branch Manager of Richardson Wealth’s Southwestern Ontario branches.

About RF Capital Group Inc.

RF Capital Group Inc. is a TSX-listed (TSX: RCG) wealth management-focused company. Operating under the Richardson Wealth brand, the Company is one of the largest independent wealth management firms in Canada with $37.0 billion in assets under administration (as of March 31, 2024) and 22 offices across the country. The firm’s Advisor teams are focused exclusively on providing strategic wealth advice and innovative investment solutions customized for high net worth or ultra-high net worth families and entrepreneurs. The Company is committed to maintaining exceptional fiduciary standards and has earned certification – determined annually – from the Centre for Fiduciary Excellence for its Separately Managed and Portfolio Management Account platforms. Richardson Wealth has also been recognized as a Great Place to Work®, a Best Workplace for Women, a Best Workplace in Canada and Ontario, a Best Workplace for Mental Wellness, for Financial Services and Insurance, and for Hybrid Work.

To learn more about the Company, please visit www.rfcapgroup.com and www.RichardsonWealth.com.to view our 2022 annual report and our latest recruiting brochure.

For further information, please contact:
RF Capital Group Inc.
Tim Wilson, Chief Financial Officer
Tel: (416) 943-6169; e-mail [email protected]

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