RF CAPITAL REPORTS AUA OF $37.1 BILLION FOR JUNE 2024 AND WELCOMES NEW ADVISORS ACROSS CANADA

TORONTO, July 2, 2024 /CNW/ - RF Capital Group Inc. (the Company) (TSX: RCG) today reported preliminary month-end assets under administration (AUA) of $37.1 billion as of June 30, 2024, up $0.1 billion or 0.2% from last month and $1.9 billion or 5.3% 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)	June 30, 2024	May 31, 2024	% Change Month- Over-Month
AUA^1	$ 37.1	$37.0	0.2 %

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 WELCOMES NEW ADVISORS ACROSS CANADA

During the month of June, the Company's wealth management subsidiary, Richardson Wealth, continued its recruiting momentum by adding three new advisor teams. This represents the highest rate of recruiting activity since September 2021.

• Rebecca Broadley and Preston Howell, who are driving an exceptionally fast-growing business, joined Richardson Wealth's Calgary office. Rebecca and Preston felt assured that the Company, with its reputable brand and highly advisor-centric culture, was the right place to provide enhanced client service and support their growth ambitions.
  
  
• Mathis Baumbach, a dedicated and client-focused Portfolio Manager and Investment Advisor, joined its Vancouver branch. Impressed by our strong reputation and growth potential, he chose to continue building his practice with Richardson Wealth to benefit from its platform and technology investments, and its exceptional focus on serving advisors.
  
  
• Matthew Williams and Alex Gao chose Richardson Wealth's Toronto office as the place to evolve their growing practice. Their expertise and dedication to excellence align perfectly with the Company's values, and management is eager to support their continued success.

"We are pleased to welcome Rebecca, Preston, Matthew, Alex, and Mathis, and their clients to our firm. Their decision to join us reinforces that Richardson Wealth has become a leading destination for top quality teams. The addition of three teams during a single month underscores the momentum in our recruiting efforts. I am excited by the level of activity and look forward to more announcements in the coming months," said Natalie Bisset, SVP, Head of Corporate Development. 

RICHARDSON WEALTH ADDS MORE TALENT TO SUPPORT ADVISORY TEAMS

At the beginning of June, Derek Perritt joined Richardson Wealth as Vice President, Wealth Planning and Solutions, within its Wealth Strategies group. Mr. Perritt brings 30 years of industry experience with a concentration in the high-net-worth space, most recently as the Regional Manager, Wealth Advisory Services, at TD Private Wealth. He will focus on expanding the national expertise in these groups and equipping the firm's advisors with wealth strategies, solutions, and resources to best serve their clients.

To learn more about the Company, please visit our website to view our 2023 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 $37.1 billion in assets under administration (as of June 30, 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. For further information, please visit www.rfcapgroup.com and www.RichardsonWealth.com.

SOURCE RF Capital Group Inc.

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