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Monday, October 24, 2011

RiverFront Crosses the River

Reported by Neil Anderson, Managing Editor

RiverFront Investment Group [see profile] just crossed the James River. Today the Richmond, Virginia-based mutual fund firm revealed that it moved nine miles from 9011 Arboretum Parkway, Suite 110 to 1214 East Cary Street, a freshly-renovated, 145-year-old building in the Shockoe Slip area of the city, just blocks from the river.

"Our new location is an important milestone in our journey together," stated Michael Jones, chairman and chief investment officer of RiverFront.

"We believe part of our success has been building and maintaining a collaborative culture. To us, that means taking care of our clients and taking care of each other," stated Pete Quinn, president and chief operating officer. "Our new space is designed to further that end.

The three-year-old firm's 30 people work with about $3 billion in separate accounts and four mutual funds. They specialize in global tactical asset allocation and have Robert W. Baird & Co. and Private Advisors as among their backers.

Company Press Release

RICHMOND, Va., Oct. 24, 2011 -- RiverFront Investment Group is pleased to announce the relocation of its corporate headquarters to 1214 East Cary Street in the historic Shockoe Slip area of downtown Richmond.  

Built in 1866, RiverFront's new headquarters underwent a year of renovation to preserve the historical character of the building.  "We are thrilled to be a part of the downtown Richmond business community again," said Michael Jones, RiverFront's Chairman and Chief Investment Officer.  "Our vision is to build a world class asset management and advice firm headquartered in Richmond. Our new location is an important milestone in our journey together."

Owned by SECAM, INC., the interior of the building was redesigned by Commonwealth Architects and transformed from a restaurant into open and collaborative office space.  The renovations were done by Emerson Builders and Courtney Ludeman Interiors was retained as the designer.  RiverFront will initially occupy the first and second floors.  They also leased the third floor to accommodate future growth.

"This is an exciting moment in the history of our firm," said Pete Quinn, RiverFront's President and Chief Operating Officer.  "We have been fortunate to have experienced significant growth since our founding in 2008 despite the very challenging investment environment we have faced.   We believe part of our success has been building and maintaining a collaborative culture.  To us, that means taking care of our clients and taking care of each other.  Our new space is designed to further that end."

RiverFront manages approximately $3 billion in assets and employs 30 people.  On a regular basis, RiverFront invites a select group of advisors from various financial services firms located throughout the United States to an in-depth due diligence meeting at their headquarters.  This gives the advisors the opportunity to interact personally with the team and to better understand RiverFront's investment philosophy, process, and current portfolio positioning.  The new space was specifically designed to accommodate these types of meetings.  RiverFront expects to host more than 200 advisors in 2012.

About Riverfront

RiverFront Investment Group is an independent SEC-registered investment advisor located in Richmond, Virginia, managing approximately $3 billion in a series of global tactical asset allocation separate account and mutual fund portfolios.  Majority owned by its employees, the firm provides asset management, investment advice, and leading-edge market insights.  RiverFront's minority investors include Robert W. Baird & Co. (Baird) and Private Advisors, LLC.  For more information about RiverFront please visit www.riverfrontig.com. 

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