RiverFront Investment Group, LLC Assets Cross $1 Billion
August 10 2009 - 8:52AM
PR Newswire (US)
RICHMOND, Va., Aug. 10 /PRNewswire/ -- RiverFront Investment Group,
LLC, a Richmond Virginia-based registered investment advisor,
announced today that its assets under management now exceed $1
billion. In April of last year, Michael Jones, Rod Smyth, and Doug
Sandler left Wachovia Securities to join Pete Quinn, also formerly
of Wachovia Securities, in launching RiverFront Investment Group.
Last June, ten of their former colleagues joined the firm,
completing their initial staffing plans. Since that time,
RiverFront's assets have grown from less than $2 million to over $1
billion. RiverFront net flows exceeded $500 million in the first
six months of 2009 as a number of national and regional financial
services firms added RiverFront to their advisory platforms.
"RiverFront's vision is to continue building a special kind of
money management firm," said Michael Jones, Chairman and Chief
Investment Officer at RiverFront Investment Group, "one that is
focused on providing leading edge separate account and mutual fund
portfolio solutions for professional financial advisors to use to
help clients achieve their life goals. It's especially gratifying
to experience this growth in a time of such economic uncertainty."
"Last year we had the opportunity to partner with this exceptional
group of professionals," said Paul Purcell, Chairman, President and
CEO of Robert W. Baird & Co., one of RiverFront's strategic
partners and a minority investor. "We could not be more pleased
with the progress we have made this year. RiverFront's success is a
tangible example of Baird's motto 'Great outcomes. Done well.'"
George Raffa, National Sales Manager for Raymond James Asset
Management Services added his congratulations. "Last summer we
added their portfolios to our advisory services platform and since
that time, RiverFront has become a valued partner. The transparency
they provide into their investment process and portfolios is
unique. We wish them continued success." To meet the needs of their
partner firms, RiverFront offers a series of diversified portfolios
that use broad mandates to invest across multiple asset classes.
They use a combination of value and momentum to adjust the
portfolios' asset allocation over time. "Our investment philosophy
and process give us the flexibility to adapt our asset allocation
strategies to the changing market environment," Jones went on to
say. "In our view, today's volatile markets demand it." In addition
to their portfolio offerings, RiverFront, also known as the Asset
Manager with Glass Walls , publishes weekly commentaries that
outline their investment views. These commentaries are available
through selected financial services firms as well as at
RiverFront's public website, http://www.riverfrontig.com/. About
RiverFront RiverFront Investment Group, LLC, an independent
SEC-registered investment advisor located in Richmond, Virginia,
manages in excess of $1 billion in a series of separate account and
mutual fund portfolios. Majority owned by its employees, the firm
provides asset management, investment advice, and leading edge
market insights to a select group of premier financial services
firms. RiverFront's minority investors include Robert W. Baird
& Co. (Baird) and Private Advisors, LLC. About Baird Baird is
an employee-owned, international wealth management, capital
markets, private equity and asset management firm with offices in
the United States, Europe and Asia. Established in 1919, Baird has
more than 2,400 associates serving the needs of individual,
corporate, institutional and municipal clients. Baird oversees and
manages client assets of more than $66 billion. Committed to being
a great place to work, Baird ranked number 14 on FORTUNE's "100
Best Companies to Work For" in 2009 - its sixth consecutive year on
the list. Baird's principal operating subsidiaries are Robert W.
Baird & Co. in the United States and Robert W. Baird Group Ltd.
in Europe. Baird also has an operating subsidiary in Asia
supporting Baird's private equity operations. For more information,
please visit Baird's Web site at http://www.rwbaird.com/. About
Raymond James Raymond James Financial (NYSE:RJF) is a Florida-based
diversified holding company providing financial services to
individuals, corporations and municipalities through its subsidiary
companies. Its three principal wholly owned broker/dealers, Raymond
James & Associates, Raymond James Financial Services and
Raymond James Ltd. have more than 5,000 financial advisors serving
1.8 million accounts in 2,200 locations throughout the United
States, Canada and overseas. In addition, total client assets are
approximately $173 billion, of which approximately $26 billion are
managed by the firm's asset management subsidiaries. For more
information please visit Raymond James' Web site at
http://www.raymondjames.com/ DATASOURCE: RiverFront Investment
Group, LLC CONTACT: Rebecca Felton, +1-804-549-4800, Web Site:
http://www.riverfrontig.com/
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