07:22 AM EDT, 11/01/2024 (MT Newswires) -- B. Riley Financial ( RILY ) said Friday it has signed a definitive agreement to sell a portion of its traditional wealth management business to Stifel Financial ( SF ) for between $27 million and $35 million in cash.

Th deal does not include B. Riley's roughly 190 independent advisers and 90 tax professionals, B. Riley said.