{ "crd_number": 315851, "slug": "b-riley-wealth-private-shares-memphis-tn-315851", "primary_business_name": "B. RILEY WEALTH PRIVATE SHARES", "legal_name": "B. RILEY WEALTH PRIVATE SHARES, LLC", "dbas": [], "city": "Memphis", "state": "TN", "country": "United States", "cbsa_code": "32820", "metro": { "cbsa_code": "32820", "common_name": "Memphis", "msa_name": "Memphis, TN-MS-AR", "path": "/advisors/tn/memphis" }, "registration_type": "sec", "registration_status": "Approved", "registration_date": "2021-09-02", "years_registered": 5, "period": "2026-10-01", "filing_date": "2026-03-31", "carried_forward": false, "raum_total": 47639513.0, "raum_discretionary": 47639513.0, "raum_non_discretionary": 0.0, "raum_band": "25m_100m", "raum_band_label": "$25 million to $100 million", "total_employees": 8, "advisory_employees": 3, "client_count_bucket": null, "clients_by_type": { "pooled_investment_vehicles": { "raum": 47639513.0, "count": 8 } }, "compensation_types": [ "percentage_of_aum", "performance_based" ], "advisory_activities": [ "portfolio_management_pooled_vehicles" ], "wrap_fee_participant": false, "disclosure_yes_count": 4, "states_registered": [ "CA", "DE", "FL", "NJ", "NY", "TN", "TX" ], "websites": [], "iapd_url": "https://adviserinfo.sec.gov/firm/summary/315851", "disclosure_items": [ { "item": "11.D(2)", "question": "Has another federal regulator, a state regulator, or a foreign financial regulator ever found that the firm or an advisory affiliate was involved in a violation of investment-related regulations or statutes?" }, { "item": "11.D(5)", "question": "Has another federal regulator, a state regulator, or a foreign financial regulator ever denied, suspended, or revoked the registration or license of the firm or an advisory affiliate, prevented either by order from associating with an investment-related business, or restricted either one's activity?" }, { "item": "11.E(2)", "question": "Has a self-regulatory organization or a commodities exchange ever found that the firm or an advisory affiliate was involved in a violation of its rules, other than a minor rule violation under a plan the SEC approved?" }, { "item": "11.E(4)", "question": "Has a self-regulatory organization or a commodities exchange ever disciplined the firm or an advisory affiliate by expelling or suspending it from membership, barring or suspending it from association with other members, or otherwise restricting its activities?" } ], "city_as_filed": "MEMPHIS", "url": "https://advisorcensus.com/firm/b-riley-wealth-private-shares-memphis-tn-315851", "display_name": "B. Riley Wealth Private Shares", "summary": "B. Riley Wealth Private Shares is an SEC-registered investment advisory firm in Memphis, TN, registered since 2021, reporting $25 million to $100 million in regulatory assets under management in its Form ADV filing dated March 31, 2026.", "citation": "AdvisorCensus. B. Riley Wealth Private Shares (CRD 315851): Form ADV filing data as of October 2026.", "registration_type_label": "SEC-registered investment adviser", "compensation_labels": [ "A percentage of assets under your management", "Performance-based fees" ], "advisory_activity_labels": [ "Portfolio management for pooled investment vehicles (other than investment companies)" ], "quick_answers": [ { "q": "How is B. Riley Wealth Private Shares compensated?", "a": "On its Form ADV (Item 5.E, October 2026), B. Riley Wealth Private Shares reports these compensation arrangements: a percentage of assets under its management; performance-based fees. The amounts are in Item 5 of its Form ADV Part 2A brochure." }, { "q": "Where is B. Riley Wealth Private Shares located?", "a": "B. Riley Wealth Private Shares' principal office is in Memphis, TN, according to its Form ADV; the April 2026 filing also lists 3 other offices (Schedule D, Section 1.F)." }, { "q": "Is B. Riley Wealth Private Shares registered with the SEC or a state?", "a": "B. Riley Wealth Private Shares is an SEC-registered investment advisory firm, registered since 2021. Status as filed: Approved. CRD 315851." }, { "q": "How much does B. Riley Wealth Private Shares manage?", "a": "B. Riley Wealth Private Shares reports $47,639,513 in regulatory assets under management in its Form ADV filing dated March 31, 2026 (100% discretionary)." }, { "q": "How have B. Riley Wealth Private Shares' assets and staff changed since 2021?", "a": "In the Form ADV data for B. Riley Wealth Private Shares: Regulatory assets under management: $499,163,756 in the October 2021 data and $47,639,513 in the October 2026 data, down 90%. Total employees: 16 in October 2021 and 8 in October 2026. Assets under management move with markets as well as with clients coming and going." }, { "q": "What types of clients does B. Riley Wealth Private Shares serve?", "a": "By number of clients on Form ADV Item 5.D: pooled investment vehicles (other than investment companies and business development companies) (8)." }, { "q": "Does B. Riley Wealth Private Shares report any disciplinary disclosures?", "a": "Reports 4 disclosure items on Form ADV Item 11: yes answers to 11.D(2) (another regulator's finding of a violation), 11.D(5) (another regulator's denial, suspension, or revocation of a registration or license, bar, or restriction), 11.E(2) (self-regulatory organization's finding of a rule violation), and 11.E(4) (self-regulatory organization's expulsion, suspension, bar, or restriction). Each question covers the firm and its advisory affiliates, and one event can produce several yes answers. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/315851" }, { "q": "What changed in B. Riley Wealth Private Shares' recent Form ADV filings?", "a": "In the April 2026 filing data: Regulatory assets under management went from $41,371,834 to $47,639,513 (+15%). Employees performing advisory functions went from 4 to 3. Updated its list of owners and control persons (Schedule A)." } ], "filing_history": [ { "period": "2021-10-01", "regulatory_assets_under_management": 499163756.0, "total_employees": 16, "filing_date": "2021-08-04" }, { "period": "2022-10-01", "regulatory_assets_under_management": 713113506.0, "total_employees": 16, "filing_date": "2022-04-01" }, { "period": "2023-10-01", "regulatory_assets_under_management": 30996770.0, "total_employees": 17, "filing_date": "2023-03-31" }, { "period": "2024-10-01", "regulatory_assets_under_management": 297369877.0, "total_employees": 13, "filing_date": "2024-05-15" }, { "period": "2025-10-01", "regulatory_assets_under_management": 41371834.0, "total_employees": 12, "filing_date": "2025-06-02" }, { "period": "2026-10-01", "regulatory_assets_under_management": 47639513.0, "total_employees": 8, "filing_date": "2026-03-31" } ], "recent_changes": [ { "period": "2026-04-01", "period_label": "April 2026", "notes": [ "Regulatory assets under management went from $41,371,834 to $47,639,513 (+15%).", "Employees performing advisory functions went from 4 to 3.", "Updated its list of owners and control persons (Schedule A)." ] } ], "fees_from_brochure": null, "custodians": [], "custodians_note": null, "markdown_url": "https://advisorcensus.com/firm/b-riley-wealth-private-shares-memphis-tn-315851.md", "clients": [ { "type": "pooled_investment_vehicles", "label": "Pooled investment vehicles (other than investment companies and business development companies)", "count": 8, "fewer_than_5": false, "raum": 47639513.0 } ], "disclosure_line": "Reports 4 disclosure items on Form ADV Item 11.", "indexable": true, "suppressed": false, "claimed": false, "enhanced": false, "provided_by_the_firm": null, "source": { "name": "Form ADV", "as_of": "2026-10-01", "iapd_url": "https://adviserinfo.sec.gov/firm/summary/315851", "operator": "BH Monitor Services, LLC", "license": "https://creativecommons.org/licenses/by/4.0/", "credit": "AdvisorCensus (advisorcensus.com), from SEC Form ADV data" } }