First Trust Advisors L.P. Announces Portfolio Manager Update for First Trust Specialty Finance and Financial Opportunities Fund

First Trust Advisors L.P. (“FTA”) announced today that Confluence Investment Management, LLC (“Confluence”), investment sub-advisor for First Trust Specialty Finance and Financial Opportunities Fund (NYSE: FGB) (the “Fund”), will release an update on the market and the Fund for financial advisors and investors. The update will be available Tuesday, August 11, 2020, at 5:00 P.M. Eastern Time until 11:59 P.M. Eastern Time on Friday, September 11, 2020. To listen to the update, follow these instructions:

• Dial: [phone]; International [phone]; and Passcode # 6628159. The update will be available from Tuesday, August 11, 2020, at 5:00 P.M. Eastern Time until 11:59 P.M. Eastern Time on Friday, September 11, 2020.

The Fund is a diversified, closed-end management investment company that seeks to provide a high level of current income. As a secondary objective, the Fund seeks to provide attractive total return. The Fund pursues these investment objectives by investing at least 80% of its managed assets in a portfolio of securities of specialty finance and other financial companies that the Fund’s investment sub-advisor believes offer attractive opportunities for income and capital appreciation.

First Trust Advisors L.P. ("FTA”) is a federally registered investment advisor and serves as the Fund’s investment advisor. FTA and its affiliate First Trust Portfolios L.P. (“FTP”), a FINRA registered broker-dealer, are privately-held companies that provide a variety of investment services. FTA has collective assets under management or supervision of approximately $145 billion as of July 31, 2020 through unit investment trusts, exchange-traded funds, closed-end funds, mutual funds and separate managed accounts. FTA is the supervisor of the First Trust unit investment trusts, while FTP is the sponsor. FTP is also a distributor of mutual fund shares and exchange-traded fund creation units. FTA and FTP are based in Wheaton, Illinois.

Confluence Investment Management LLC ("Confluence"), an SEC registered investment advisor, serves as the Fund’s investment sub-advisor. The Confluence team has more than 500 years of combined financial experience and 300 years of portfolio management/research experience, maintaining a proven track record that dates back to 1994. As of June 30, 2020, Confluence had more than $9.0 billion in assets under management and advisement (assets under management = $6.2 billion; assets under advisement = $2.9 billion).