Wedbush Securities Explained

Wedbush Securities
Type:	Private
Foundation:	Los Angeles, California
Location:	1000 Wilshire Boulevard Los Angeles, CA 90017
Key People:	Gary L. Wedbush (President)
Industry:	Financial services
Aum:	(2024)
Num Employees:	980 (2024)
Footnotes:	^[1]

Wedbush Securities Inc. is a privately held investment firm based in Los Angeles.^[2] As of January 2024, the firm had $4.5 billion under management with 9,055 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 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]

External links

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Notes and References

1. Web site: Wedbush Securities Inc. Form ADV . 3 May 2022 . . 22-23.
2. Web site: Our Firm . Wedbush.
3. Web site: Wedbush Securities Inc . Money . . January 27, 2024.
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. News: Hamilton. Walter. Edward Wedbush's roof leaks, but his wallet doesn't. 25 October 2011. LA Times.
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.