Wedbush Securities
TypePrivate
IndustryFinancial services
Founded1955 (1955)
Los Angeles, California
Founders
  • Edward W. Wedbush
  • Robert Werner
Headquarters1000 Wilshire Boulevard
Los Angeles, CA 90017
Key people
Gary L. Wedbush (President)
AUMUS$4.14 billion (2022)
Number of employees
900 (2022)
Websitewedbush.com
Footnotes / references
[1]

Wedbush Securities Inc. is a privately held investment firm based in Los Angeles.[2] As of February 2022, the firm had $4.1 billion under management with 7,460 clients.[3]

History

The firm was founded in 1955 by two high school friends, Edward W. Wedbush, and Robert Werner, in Los Angeles, California. They each contributed $5,000 to capitalize on their new company, Wedbush & Company.[4] The company was named after Wedbush because neither partner wanted a possible business failure named after them and Wedbush lost a coin toss.[5]

Wedbush opened its first office in 1957 located in the Crenshaw district of Los Angeles. Three years later, Robert Werner decided to sell his interest in the firm to Ed Wedbush.[6] In 1972, the firm began offering correspondent clearing services, providing trade execution for other brokerage firms.[7]

References

  1. ↑ "Wedbush Securities Inc. Form ADV" (PDF). U.S. Securities and Exchange Commission. 3 May 2022. pp. 22–23.
  2. ↑ "Our Firm". Wedbush.
  3. ↑ "Wedbush Securities Inc". Money. U.S. News & World Report. Retrieved February 25, 2022.
  4. ↑ "After More Than 50 Years in the Securities Business, RSF Resident Still Dedicated to the Work He Loves." Rancho Santa Fe Review, February 19, 2009, p. 8
  5. ↑ Hamilton, Walter. "Edward Wedbush's roof leaks, but his wallet doesn't". LA Times. Retrieved 25 October 2011.
  6. ↑ "After More Than 50 Years in the Securities Business, RSF Resident Still Dedicated to the Work He Loves." Rancho Santa Fe Review, February 19, 2009, p. 8.
  7. ↑ "He’s Still Smiling." Eugene Register-Guard, May 22, 1974, p. 2C.

40°02′35″N 75°21′57″W / 40.04294°N 75.36577°W / 40.04294; -75.36577

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