RF CAPITAL REPORTS AUA OF $35.4 BILLION FOR MAY 2023

TORONTO, June 1, 2023 /CNW/ - RF Capital Group Inc. (the Company) (TSX: RCG) today reported preliminary month-end assets under administration (AUA) of $35.4 billion as of May 31, 2023, down $0.9 billion or 2.4% from last month. 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)	May 31, 2023	April 30, 2023	% Change Month- Over-Month
AUA^1	$35.4	$36.3	2.4 %

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. 

WELCOMES TWO NEW ADVISORS

The Company is also pleased to announce the addition of Allyson Watson and Jeffrey Watson to Richardson Wealth's Halifax, Nova Scotia office, bringing the number of new advisors during the first five months of 2023 to six.

Natalie Bisset, SVP, Head of Corporate Development at Richardson Wealth commented, "We are delighted to welcome Allyson and Jeffrey Watson to Richardson Wealth. This high-caliber team chose to join our platform for our advisor-centric culture and commitment to enhancing the advisor experience, especially through investments in new offices and technology solutions. We are also very pleased to be building our presence in the Atlantic provinces as we seek to be the brand of choice for Canadian high-net worth advisors and their clients."

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

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 $35.4 billion in assets under administration (as of May 31, 2023) and 21 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 Center 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. For further information, please visit www.rfcapgroup.com and www.RichardsonWealth.com.

SOURCE RF Capital Group Inc.

RF Capital Group Inc., Tim Wilson, Chief Financial Officer, Tel: [phone]; e-mail [email protected]