FUNDRAISING NEWS | November 25, 2024
HudsonPoint Capital, a Jersey City, NJ-based wealth manager that focuses on alternative investment strategies, is the latest advisory shop to jump ship from B. Riley since the firm announced the sale of its wealth management business to Stifel Financial.
In a post on LinkedIn, Arete Wealth CEO Joshua Rogers announced that HudsonCapital has joined Arete. HudsonCapital was founded over 20 years ago and focuses on providing clients with access to alternative investment strategies and vehicles, particularly in real estate and private equity.
The firm was affiliated with B. Riley since 2021, when B. Riley acquired HudsonCapital’s then-broker/dealer National Securities. HudsonCapital is the latest shop to leave since B. Riley announced in late October that it had agreed to sell its wealth management business for up to $35M in cash, depending on how many advisors make the move to buyer Stifel. At about the same time, Kestra Financial said it added a 31-person South Florida team managing $1.4B in client assets, and in the ensuing weeks Wedbush Securities has recruited teams formerly affiliated with B. Riley in Houston and Philadelphia.
Dakota is a group of extraordinary people who try and do extraordinary things every day while playing at the highest level of professionalism in their domain.
