11:55 AM EDT, 10/04/2024 (MT Newswires) -- A group of B. Riley Financial ( RILY ) brokers stationed at its Wealth's branch office in Florida have left this week amid concerns that the company's asset sales would eventually impact their segment, Bloomberg News reported Friday.

Records from the Financial Industry Regulatory Authority showed that at least 24 brokers from Boca Raton, Florida, moved this week. These exits, along with a series of other departures in the past few weeks, would account for roughly 8% of B. Riley's team of brokers at the end of 2023, according to the news outlet.

The departures could hamper B. Riley's sale of its wealth unit, the report added.

A company spokesman told Bloomberg that B. Riley Wealth Management continues to have a "robust" team of financial advisers, noting that the recent departures constitute a "small group" of its advisers.

B. Riley Financial ( RILY ) did not immediately respond to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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