Wedbush Securities Inc

CRD#877
Investment Advisor Firm

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Overview

Wedbush Securities Inc operates as a financial advisor firm located in Los Angeles, California. The firm administers $2.4 billion in assets over 6,067 accounts, making it one of the biggest firms in the country by assets under management (AUM). The firm has a large group of 800 employees, of which 155 are financial advisors. Wedbush Securities Inc is not a registered broker-dealer, signifying that the advisor cannot buy and sell securities for its customers' and own accounts and instead must go through a broker-dealer company to do so. Securities are defined as exchangable financial investments like stocks, options and bonds.

Wedbush Securities Inc administers the majority of the firm's accounts in a discretionary manner. Discretionary management signifies that transaction choices for the client's account are made by a portfolio manager without needing to seek client permission. The firm also oversees 921 non-discretionary accounts totaling $333.1 million in AUM. The company manages about $395,249 for every account. The average advisor at Wedbush Securities Inc administers about 39 client accounts, making it about average in terms of personalization.

The firm's main office is located at Attn: Compliance Dept., Los Angeles, California 90017. The company is registered to serve investors across 51 U.S. states and territories.

Assets Under Management

$2.4 billion

Number of Advisors

155

Disclosures

No

Office Location

Attn: Compliance Dept.
Los Angeles, CA 90017

Wedbush Securities Inc by the Numbers

Total Assets Under Management

$2.4 billion

National Average: $3.7 billion
Total Number of Employees

800

National Average: 29
Total Number of Accounts

6,067

National Average: 2,073
Average Account Size

$395.2 thousand

National Average: $1.8 million

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Products and Services

Wedbush Securities Inc provides a number of services, which can include financial planning services, portfolio management for individuals and small businesses, portfolio management for institutional clients, pension consulting services, selection of other advisers and educational seminars. In the prior fiscal year, the company provided financial planning services to 26-50 of its clients. The company is engaged in selling products or offering services other than investment advice to its clients. The firm is also affiliated with one or more other companies in the financial services industry, including with a broker-dealer or securities dealer.

Core Advisor Services

  • Offered by 45% of firms

    Financial Planning Services

    This is the process of planning for your financial future, including for events such as retirement, your child's college education or estate succession.

  • Offered by 62% of firms

    Portfolio Management

    This is the selection and management of an investment mix and portfolio strategy for individuals and small businesses.

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    Market Timing Services

    This is the practice of attempting to make short-term profits on investments by buying low and selling high.

Other Services

  • Offered by 23% of firms

    Selection of Other Advisors

    This is the firm's assistance with choosing other advisors to work with who may have different specialties.

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    Publication of Periodicals

    This is the publication of various financial education materials.

  • Offered by 10% of firms

    Educational Seminars/Workshops

    This is the hosting of seminars or workshops to educate investors on financial concepts.

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Fee Structure

Fees for financial advisory services usually depend on which service is provided. Fees charged by Wedbush Securities Inc likely consist of the following fee types: asset-based, hourly, fixed, commission-based or performance-based. Wrap fee programs, or the practice of bundling services for a single fee, are provided by the company.

Available

  • Offered by 74% of firms

    Percentage of Assets

    Show Explanation

    This fee, which is the most common fee type charged by advisors for portfolio management, is based on the amount of assets you have under management. Also referred to as an asset-based fee, this fee typically ranges from 0.50%-2.00% of AUM annually. You'll typically pay a lower rate the more assets you have under management.

  • Offered by 35% of firms

    Hourly

    Show Explanation

    Like a lawyer, a financial advisor may charge you by the hour. This can be helpful if you are only looking for short-term or one-time advice. Rates typically range from $100-$300 per hour, depending on the complexity and level of services needed.

  • Offered by 2% of firms

    Commissions

    Show Explanation

    Occasionally, advisors earn commissions from selling financial products, such as securities or insurance policies, or making certain referrals or transactions. Advisors who earn commissions may be incentivized to make certain recommendations to clients in order to make a commission. Fee-only advisors do not earn commissions, while fee-based advisors may.

  • Offered by 17% of firms

    Performance-based

    Show Explanation

    Advisors only earn performance-based fees if a portfolio outperforms a defined benchmark. This fee may be calculated in a number of ways but most commonly is charged as a percentage of investment profits. Performance-based fees may incentivize advisors to make riskier decisions in order to generate higher returns.

  • Offered by 40% of firms

    Fixed

    Show Explanation

    Fixed fees are a one-time, lump sum charged for a specific service, like the creation of a financial plan without subsequent implementation. This can be useful if you only need advice for one specific purpose, rather than a long-term advisor. Fixed fees usually range from $1,000 to $3,000.

Unavailable

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Types of Clients

The firm manages money for a number of different customers. The firm caters to retail investors, high net worth investors, pension plans, charitable organizations, corporations and other. Out of its 6,067 customers, Wedbush Securities Inc's biggest client group by number of accounts is retail investors, although it also serves 377 high-net-worth individuals. A high-net-worth individual is defined by the SEC as a person who has at least $750,000 in AUM or a net worth of more than $1.50 million or who counts as a "qualified purchaser" (a standard met by having at least $5 million in investments). Just 1% of the firm's accounts are represented by non-U.S. persons.

  • High-Net-Worth Individuals* - 6.21%
  • Other Individuals - 90.54%
  • Corporations - 2.87%
  • Charitable Organizations - 0.38%

* The U.S. Securities and Exchange Commission (SEC) defines a high-net-worth individual as someone who has at least $750,000 under management.

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Disclosures

Wedbush Securities Inc does not have any disclosures.

Please visit its Form ADV for more details.

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Financial Advisors at Wedbush Securities Inc

Laurie Mccormick
La Jolla, CA
Terrence Flynn
Honolulu, HI
Mitchell Loewenberg
La Jolla, CA
Ashenafi Guiles
Los Angeles, CA
Madison Luu
Los Angeles, CA
John Wilkinson
Dallas, TX
Max Seeget
Los Angeles, CA
Gary Coover
Los Angeles, CA
Robert Kennally
Los Angeles, CA

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This content was compiled from the SEC and FINRA