Mr. Tim Wilson reports

RF CAPITAL REPORTS AUA OF $37.1 BILLION FOR MAY 2024

RF Capital Group Inc. had preliminary month-end assets under administration (AUA) of $37.1-billion as of May 31, 2024, up $600-million, or 1.7 per cent, from last month and $1.9-billion, or 5.3 per cent since year-end 2023. AUA is a key performance indicator and one of the financial measures used by management, investment advisers and the company's shareholders to assess operating performance.

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 adviser, and includes Julie Grant, investment adviser; Paula Campbell, associate investment adviser; Jennifer O'Connor, associate; Lisa Kuehn, associate; and Noha Elkady, associate. The team moved its top-tier practice to Richardson Wealth from a leading bank-owned firm, where it was 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 advisers 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, senior vice-president, head of corporate development.

About RF Capital Group Inc.

RF Capital Group is a Toronto Stock Exchange listed 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 adviser teams are focused exclusively on providing strategic wealth advice and innovative investment solutions customized for high-net-worth or ultrahigh-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, and a Best Workplace for mental wellness, for financial services and insurance, and for hybrid work.