Private fund adviser · Memphis, TN
B. Riley Wealth Private Shares
B. Riley Wealth Private Shares, LLC · SEC-registered investment adviser · CRD 315851 · SEC 801-122228
At a glance
B. Riley Wealth Private Shares is an SEC-registered investment adviser based in Memphis, Tennessee, with $48 million in regulatory assets under management as of its Form ADV filed March 31, 2026. Its largest client group by assets is pooled investment vehicles. By Form ADV it is a private fund adviser, ranked 4,587th of 4,686 private fund advisers and 15,929th of 17,210 SEC-registered advisers by assets.
Main office 901-251-1330As filed on Form ADV
- Regulatory AUM
- $48M
- Rank among private fund advisers
- #4,587 of 4,686
- Rank among all SEC RIAs
- #15,929 of 17,210
- Rank in Tennessee
- #213 of 227
- Clients
- 8
- Accounts
- 8
- Discretionary
- 100% of AUM
- Employees
- 8
- Advisory staff
- 3
- Offices
- 4
Owners and executives on its Form ADV
- Michael A. MullenManaging Member
- Philip R. ZanoneManaging Member
- Daniel OrtegaChief Compliance Officer
Custody and brokerage
Custodian
B. Riley Wealth Private Shares’s Form ADV lists no custodian for separately managed accounts. Firms report one only when they manage $10 million or more in those accounts.
Broker-dealer
Hybrid RIA
B. Riley Wealth Private Shares is a hybrid RIA: 7 of its employees are also registered representatives of a broker-dealer. It names affiliated broker-dealers: B. Riley Securities, Inc. and B. Riley Wealth Management, Inc..
- B. Riley Securities, Inc. ↗CRD 25027
An introducing broker-dealer: its trades clear through another firm, which holds the brokerage accounts. Its annual audited report filed with the SEC, March 2026
- B. Riley Wealth Management, Inc. ↗CRD 2543
An introducing broker-dealer: its trades clear through National Financial Services (Fidelity), which holds the brokerage accounts. Its annual audited report filed with the SEC, March 2026
Who it serves
| Client type | Clients | Regulatory AUM | Share |
|---|---|---|---|
| Pooled investment vehicles | 8 | $48M | 100% |
Private funds
B. Riley Wealth Private Shares reports 8 private funds with $48M in gross assets: private equity funds (Form ADV Item 7.B).
Disciplinary disclosures
B. Riley Wealth Private Shares answers yes to 4 disclosure items in Item 11 of Form ADV (criminal, regulatory or civil matters involving the firm or its advisory affiliates). Read the details on the SEC’s adviser search ↗
Services
- Portfolio management for pooled investment vehicles
How it’s paid
- A percentage of assets under management
- Performance-based fees
Form ADV and brochures on the SEC’s adviser search ↗
AtlasMembers
The full record on B. Riley Wealth Private Shares
Ten years of SEC filings, its owners and contacts, and how it stacks up against its peers. Atlas members see all of it.
- Assets, accounts, clients and staff, 4 years of filings
- Locked
- Growth over one, three and five years
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- Rank against 323 peers of its type and size
- Locked
- Owners and executives, with titles and stakes
- 3 namedLocked
- Main office, fax and compliance officer
- Locked
- Filing changes this year, with alerts
- Locked
Free while Atlas launches: create a free account and confirm your email. Every figure comes from SEC filings.
Background
Questions
How much does B. Riley Wealth Private Shares manage?
B. Riley Wealth Private Shares reports $48 million in regulatory assets under management across 8 accounts, 100% of it on a discretionary basis, on its Form ADV filed March 31, 2026.
What kind of firm is B. Riley Wealth Private Shares?
B. Riley Wealth Private Shares is a private fund adviser by its Form ADV answers. Private funds are at least half of its business by assets. A public reporting company controls it.
Who are B. Riley Wealth Private Shares’s clients?
By assets, its largest client types are pooled investment vehicles ($48 million, 8 clients).
Does B. Riley Wealth Private Shares manage private funds?
Yes. It reports 8 private funds with $48 million in gross assets, including private equity funds.
Does B. Riley Wealth Private Shares have any disciplinary history?
B. Riley Wealth Private Shares answers yes to 4 disclosure items in Item 11 of Form ADV, which covers criminal, regulatory and civil matters involving the firm or its advisory affiliates. The details are on the SEC’s adviser search.
Where these numbers come from
Every figure is B. Riley Wealth Private Shares’s own answer on its latest Form ADV, from the SEC’s registered-adviser list as of October 1, 2026: regulatory assets and accounts (Item 5.F), clients by type (5.D), employees (5.A and 5.B), compensation (5.E) and services (5.G). Custodians come from Schedule D 5.K(3) of its latest filing (2026-03-31), which lists those holding 10% or more of separately managed account assets and the amount at each. “Hybrid” means some employees are also registered representatives of a broker-dealer (Item 5.B(2)); affiliated broker-dealers are the related persons it lists in Item 7.A and Schedule D. Firm type comes from its own answers: broker-dealer firms are registered broker-dealers themselves (Item 6.A); private fund advisers manage mostly private funds (Item 7.B, 5.D); wealth managers manage at least half their assets for individuals (5.D). Ranks compare it by regulatory assets with every SEC-registered adviser and with firms of its type. Figures are as of the firm’s last annual update, so they can lag recent deals and market moves. Regulatory AUM counts assets the firm continuously supervises and can differ from what a firm markets.
Not an endorsement or a recommendation. Before hiring any adviser, read its Form ADV Part 2A brochure and check its record on the SEC’s adviser search. How to check a financial advisor →