Sanders Morris Harris Group Announces Shareholder Approval to Change Name to The Edelman Financial Group and Quarterly Dividend

HOUSTON, May 26, 2011 /PRNewswire/ -- Sanders Morris Harris Group Inc. (NASDAQ: SMHG) today announced that the Company's shareholders approved the change of the Company's name from Sanders Morris Harris Group Inc. to The Edelman Financial Group Inc. In addition, the Company's stock will begin trading under the symbol "EF" on Friday, May 27, 2011 on the NASDAQ Global Select Market.

George Ball, Chairman and Co-Chief Executive Officer stated, "The name change was approved by our shareholders as a step in the Company's plan to capitalize on the nationwide recognition of the Edelman brand.  With Ric Edelman joining me as Co-Chief Executive Officer, supported by our strong management team, our focus on growth as a wealth management firm positions us very well for the future."  

Ric Edelman, Co-Chief Executive Officer, added, "We will be working hard to maximize the returns to our stakeholders – clients, investors, and employees alike."

In addition to Mr. Edelman's nationally syndicated radio show, his new weekly television program, The Truth About Money with Ric Edelman, has begun airing on public television stations nationwide. It will be shown by stations that reach over 90% of all U.S. television households and is estimated to be seen by 20 million viewers in the next year.

The Company further announced the Board of Directors declared a regular quarterly cash dividend in the amount of $0.05 per share of common stock. The dividend will be payable on July 19, 2011 to common shareholders of record at the close of business on July 5, 2011.

While The Edelman Financial Group intends to declare dividends in subsequent quarters, any future dividends will be at the discretion of the Board of Directors after taking into account various factors, including general economic and business conditions, tax considerations, its strategic plans, its financial results and condition, its expansion plans, any contractual, legal or regulatory restrictions on the payment of dividends, and such other factors the Board considers relevant.

About The Edelman Financial Group

The Edelman Financial Group is a wealth management company that manages approximately $18.2 billion in client assets. Client assets include the gross value of assets under management directly or via outside managers and assets held in brokerage accounts for clients by outside clearing firms. Its corporate philosophy of investment in common aligns its interests with those of its clients. The Edelman Financial Group has approximately 530 employees in 21 states. Additional information is available at www.edelmanfinancial.com or www.smhgroup.com.

In addition to the historical information, this press release contains certain forward-looking statements under federal securities laws, including statements regarding The Edelman Financial Group's expected future business prospects, revenue and income. These forward-looking statements are based upon current expectations and involve certain risks and uncertainties that could cause actual results to differ materially from any such statement. These risks and uncertainties, many of which are beyond the Company's control, include, but are not limited to (1) trading volume in the securities markets; (2) volatility of the securities markets and interest rates; (3) changes in regulatory requirements that could affect the demand for the Company's services or the cost of doing business; (4) general economic conditions, both domestic and foreign, especially in the regions where the Company does business; (5) changes in the rate of inflation and related impact on securities markets; (6) competition from existing financial institutions and other new participants in the securities markets; (7) legal developments affecting the litigation experience of the securities industry; (8) successful implementation of technology solutions; (9) changes in valuations of the Company's trading and warrant portfolios resulting from mark-to-market adjustments; (10) dependence on key personnel; (11) demand for the Company's services; and (12) litigation and securities law liabilities. The Company does not undertake any obligation to publicly update or revise any forward-looking statements.

SOURCE Sanders Morris Harris Group Inc.

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