RF CAPITAL REPORTS AUA OF $37.1 BILLION FOR MAY 2024

TORONTO, June 3, 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 May 31, 2024, up $0.6 billion or 1.7% 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)	May 31, 2024	April 30, 2024	% Change Month- Over-Month
AUA^1	$ 37.1	$36.5	1.7 %

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 NEW TEAM IN HALIFAX

At the beginning of May, the Company's wealth management subsidiary, Richardson Wealth, announced it added a highly respected six-woman wealth-management team to its Halifax branch. The team is led by Mary Ellen Byrne, Portfolio Manager and Investment Advisor, and includes Julie Grant, Investment Advisor; Paula Campbell, Associate Investment Advisor; Jennifer O'Connor, Associate; Lisa Kuehn, Associate; and Noha Elkady, Associate. They moved their top-tier practice to Richardson Wealth from a leading bank-owned firm, where they were one of the largest teams, managing close to half a billion dollars in client assets.

"We are pleased to welcome this extraordinary team and their clients to our firm. Their decision to join us reinforces that Richardson Wealth has become a leading destination for top quality teams. We believe the investments we have made in our business to better serve advisors and their clients, combined with our strong brand and independent values, are paying off and that we are set to accelerate our recruiting growth," said Natalie Bisset, SVP, Head of Corporate Development. 

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 May 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. 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]