RF Capital reports net loss, record AUA in first full quarter after consolidation

first_img Share this article and your comments with peers on social media One in five Canadian investors plans to switch wealth providers: EY study Keywords Earnings,  Wealth management RF Capital Group Inc. reported a $7.5-million net loss in the quarter ended March 31, the first full reporting period since it acquired full ownership of Richardson Wealth in October.The company formerly known as GMP Capital Inc. also reported $1.1 million of adjusted net income and $83.7 million of revenue for this year’s first quarter. RF Capital had a $2.9-million net loss, an adjusted net loss of $1.6 million and $8.8 million of revenue in the first quarter of 2020.This marks the first time RF Capital has consolidated Richardson Wealth’s results for a full reporting period.Richardson Wealth’s revenue was up 15% year over year, to $80.6 million from $70.2 million. Its net loss was $646,000, compared with a net profit of $1.5 million in the first quarter of 2020.Richardson Wealth is one of Canada’s largest independent wealth management firms. The firm recently rejected takeover bids from rival independent Canaccord Genuity Group Inc.Richardson’s assets under administration were at an all-time high of $32.8 billion on March 31, up 29% from a year earlier. Contributing to those gains were $4.8 billion in net new and recruited assets since closing the deal in October, the firm said.Quarterly fee income of $57.6 million set a record, up 8% from a year ago, and the firm said many advisors achieved personal bests.RF Capital’s transformation was a long and occasionally fraught process, with pressure from shareholders and former executives late in the process leading to revised transaction terms.The shakeup has continued since the deal closed in October, with longtime president and CEO Andrew Marsh stepping down earlier this year and the firm adding other senior executives.In its earnings release Monday, RF Capital said it hired a global consulting firm to develop a growth strategy for the consolidated firm. That strategy will be revealed at the firm’s virtual AGM on May 26.“The toughest part of our journey is behind us,” RF Capital president and CEO Kish Kapoor said in a statement. “More than ever, we are convinced that our carefully mapped-out growth strategy is the best path forward to meaningful long-term shareholder value creation.” Canaccord reports record revenues, drops proposal to acquire RF Capital Related news IE staff, with files from Canadian Press TD getting new head of private wealth, financial planning Businessman check seriously analyzes a finance report investor colleagues discussing new plan financial graph data. bank managers task. Concept business and finance ,Account analyzes planing yozayo/123RF Facebook LinkedIn Twitterlast_img read more

IAPEN & Brains organise National Conference on Neuro-nutrition

first_imgIAPEN & Brains organise National Conference on Neuro-nutrition By EH News Bureau on April 25, 2018 Share Read Article WHO tri-regional policy dialogue seeks solutions to challenges facing international mobility of health professionals MaxiVision Eye Hospitals launches “Mucormycosis Early Detection Centre” Heartfulness group of organisations launches ‘Healthcare by Heartfulness’ COVID care app Phoenix Business Consulting invests in telehealth platform Healphacenter_img Indraprastha Apollo Hospitals releases first “Comprehensive Textbook of COVID-19” News Related Posts Correct nutritional feed is important for brain health, preventing neurological disorders & prevent infections & mortality rate in critical neuro-patients: ExpertsHighlighting the importance of neuro-nutrition, the Indian Association for Parenteral and Enteral Nutrition (IAPEN) and the Bangalore-based Brains Neuro Spine Centre recently organised a national conference on neuro-nutrition.Delivering his inaugural speech Dr NK Venkataramana, Founder & Chief Neurosurgeon, Brains enlightened the audience on how important is nutrition for the brain right from the foetus to geriatrics.Dr Venkataramana said, “Brain is the first organ to develop in human. Right from the pre-conception stage, neo-natal, childhood, right through adult and old age, consumption of right nutrition is very important. Lack of correct nutritional intake affects the white matter of the brain. This in turn can lead to delay in brain development, brain damage and cause serious neuro related problem like epilepsy.”Meanwhile as one tends to grow old, lack of proper nutrition can lead to decline in brain function and degeneration of brain, he further added.“Nutrition plays an important role in nervous disorders and in neuro and trauma critical care. Establishing nutrition support teams and protocols in hospitals and effective team work is the right approach for addressing malnutrition among hospitalised patients. The importance of nutrition and its role as part of medical treatment and enhanced recovery has been well established through several studies,” said, Dr Sreemathy Venkatraman, Chief Dietician & Nutritionist at Brains.The conference was aimed at educating dieticians and nutritionists about the importance of medical nutritional therapies in various neurological disorders and feeding practices in neuro and trauma critical care.It also served as a forum for dieticians and doctors to come together, discuss and exchange views. This would further enhance treatment in critical neuro cases, she added.The day-long conference attracted over 100 participants and several resource persons from across the country and abroad.Meanwhile, at the event, a booklet titled “Food for Thought Nutritional Guidelines for Brain” was released. The missing informal workers in India’s vaccine story Menopause to become the next game-changer in global femtech solutions industry by 2025last_img read more

Mané not pleased despite scoring

first_imgYEKATERINBURG, Russia (AP): For Sadio Mane, it was a wasted opportunity. The Senegal striker scored the first goal in his team’s 2-2 draw with Japan yesterday at the FIFA World Cup, so there was something to celebrate. But that does not mean he was satisfied with the result. “Frankly speaking, I think we are a bit disappointed. And that’s normal because there was a way to win this match,” Mane said. “We started this game well. … We were dangerous, but in the end, we scored, and they equalised.” The 26-year-old Liverpool winger, playing in his first World Cup, was named Man of the Match, largely because of his goal. A charging Mane found himself in the right place at the right time in the 11th minute, deflecting a missed shot by Youssouf Sabaly past Japan goalkeeper Eiji Kawashima to put Senegal ahead 1-0. Although Japan equalised when Takashi Inui scored with a curling shot in the 34th minute, Mane was involved in the play that led to Moussa Wague’s goal in the 71st. Japan, however, earned the draw when substitute Keisuke Honda scored in the 78th. Two preventable goals allowed, as far as Mane was concerned. “There was a way for us to win the match, and we didn’t do it,” Mane said. “We can’t underestimate the Japanese team that played very well. They managed to create quite a lot of opportunities, and they scored twice. And now, we have to admit it.” Japan coach Akira Nishino said he thought his defenders did a “pretty good job” on Mane. “But we were more concerned about him giving positive impact on other players, especially in the first half,” Nishino said. “We let him and the other players play freely a bit too much. But as a countermeasure against Sadio Mane, I think we did pretty well.”last_img read more