RICHMOND, Va., Feb. 6, 2013 /PRNewswire/ -- RiverFront Investment Group, LLC has hired Bart Farinholt as Director of Independent Registered Investment Advisor (RIA) sales. Farinholt brings to the firm more than 20 years of experience in the financial services industry focusing on institutional equity sales and investment banking. "We are very excited to have Bart join our team," said Pete Quinn, RiverFront's president and chief operating officer. "He has a long history of success in the financial services business. Bart's sole focus will be on how our firm can become a strategic partner to successful independent RIAs seeking to enhance their investment strategy and managed solution capabilities." A leading exchange traded fund (ETF) strategist with more than $3.4 billion in assets under management as of December 31, 2012, RiverFront provides core managed ETF solutions for financial advisors and independent RIAs to use in constructing suitable, risk-managed client solutions. The continued growth of the independent RIA channel, which Farinholt will help to manage, makes it a compelling market for RiverFront. Focused solely on serving financial intermediaries and their clients, RiverFront seeks no direct high net worth or institutional business. Prior to joining RiverFront, Farinholt was on the Board of Directors and managed the Institutional Equity Sales & Trading efforts for Davenport & Company. Before Davenport, he spent nine years at BB&T Capital Markets as a producing sales manager of the Institutional Equity Sales Group helping to grow the business sixfold. In addition, Farinholt also served on the engagement and commitment committees of BB&T Capital Markets. "I couldn't be happier to become part of RiverFront," Farinholt added. "Our unique combination of thought leadership and dynamic asset allocation solutions, primarily using ETFs, sets us apart in this space. When you couple that with the explosive growth in the independent RIA space, we have the opportunity to add significant value to clients' financial lives."