Almost a year after it acquired Memphis-based Wunderlich Securities as a wholly owned subsidiary, B. Riley Financial Inc. is changing the name of the Wunderlich operation to bring it under the B. Riley banner.

Wunderlich's transition to its new name, B. Riley Wealth Management, should be completed later this year, B. Riley executives said Tuesday, June 26.

Wunderlich was founded in Memphis in 1996 as a comprehensive wealth management service for individuals, families, corporations and nonprofits. It grew to include branch locations across the country.

“We will continue our firm’s client-first focus as we look to expand B. Riley Wealth Management’s comprehensive wealth management services to individuals, families, corporations and nonprofit organizations across the country,” said Gary Wunderlich, the CEO of Wunderlich Securities in a written statement.

B. Riley executives said there are no plans to relocate any Memphis offices and that the company has increased its Memphis headcount.

B. Riley operates through several subsidiaries including Wunderlich to collaborate on financial services including raising capital and advising public and private companies and individuals.

B. Riley chairman and CEO Bryant Riley said the Wunderlich acquisition has “expanded and strengthened” the firm’s services.

“Through this effort, we aim to strengthen the firm’s position in the external marketplace as we continue to grow and evolve in new and existing markets,” he said in a written statement.