Wedbush Securities Inc. (Los Angeles)

Name: Wedbush Securities Inc.
Address: Attn: Business Conduct, Los Angeles, CA, 90017
Telephone: 213-688-8000

Wedbush Securities Inc. is a large advisory firm based in Los Angeles. It manages $2.46 billion of regulatory assets for 5,993 client accounts. It has been registered with the SEC as an adviser since 2010 and has operated in the jurisdictions of Alabama, Alaska, Arizona, and 49 other states.

Wedbush Securities provides financial planning services, portfolio management for individuals and small businesses, portfolio management for businesses and institutional clients, pension consulting services, selection of other advisers, and educational seminars and workshops. It prepares financial plans for more than 25 clients. On top of advisory services, the firm doesn't engage in other business activities.

Wedbush Securities: assets under management

The assets under management (AUM) of Wedbush Securities Inc. is $2.46 billion. The firm's AUM has grown by 236% since the beginning of its operation, and $7.12 million of the total AUM is attributable to clients outside of the United States.

The firm manages $2.13 billion in discretionary accounts and $324.96 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $419.56 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $357.49 thousand.

Wedbush Securities has custody of $1.5 billion in cash and securities for 3,000 clients in total and acts as a qualified custodian.

Investments

The firm invests in exchange traded securities the most. They account for 60% of the total AUM. The second-largest asset type is investment and business development companies, which make up 20% of the firm’s portfolio. Investments in cash and cash equivalents form 5% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Wedbush Securities Inc. for their services and products based on a percentage of assets under management, hourly charges, fixed fees, commissions, and performance-based fees. Hourly charges are usually charged for consulting work and special projects. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Harry L Langdon serves?

The firm provides services to individuals, high net worth individuals, corporations or other businesses, and pension and profit sharing plans. The largest group of clients of Harry L Langdon is individuals with 5,455 clients and $1.48 billion of assets under management. Among the 9 most similar advisory firms, Wedbush Securities has the highest percentage of individuals out of all clients.

The amount of regulatory assets under management is $2.45 billion for 5,969 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. 1% of the firm’s clients are foreign persons or businesses.

Wedbush Securities doesn't advise any private funds.

Careers at Wedbush Securities Inc.

The company employs 800 people that are either part- or full-time employees. 19 percent of the employees work as investment advisers or researchers. 250 employees are registered as investment adviser representatives with the state securities authorities.

There are 4 people with the role of looking for and bringing in new clients on behalf of the firm. The firm doesn’t compensate employees in addition to the salary for bringing in new clients. Employees don’t receive compensation from other entities for client referrals.

Harry L Langdon has been acting as President since 1 Feb 1999. Robert Gerard Fitzsimmons joined the executive team most recently as the Executive Vice President.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Edward William Wedbush	President & director	1 Jul 1966	Other	461221
Harry L Langdon	Director	1 Feb 1999	Other	1533278
Inc. Wedbush	Corporate parent	1 Nov 2004	75% - 100%	95-3565499
Gary Lance Wedbush	Executive vice president	1 Nov 2004	Other	2234455
Michael Gerald Gardner	Executive vice president	1 Nov 2004	Other	2803324
R James Richards	Executive vice president	1 Dec 2004	Other	3120249
Jeffrey M Bell	Executive vice president	1 Apr 2007	Other	4152098
Wesley Robert Long	Senior vice president, division manager	1 Apr 2007	Other	2050442
Vincent John Moy	Senior vice president, co-chief compliance officer, rosfp	1 Jul 2007	Other	2469335
Darryl George David	Senior vice president, division manager, rosfp	1 Aug 2007	Other	61443
Richard Anthony Lanni	Senior vice president	1 Aug 2007	Other	302249
James Brewster Guillou	Senior vice president, division manager, rofsp	1 Aug 2007	Other	231804
Eric Stuart Segall	Senior vice president, co-chief compliance officer, rosfp	1 Oct 2007	Other	1071881
Eric Dean Wedbush	Director	1 Apr 2010	Other	5786473
Shawn Thomas Keagy	Cfo, executive vice president	1 Feb 2011	Other	4593479
Gary Robert Whinery	Senior vice president, division manager	1 Jun 2012	Other	4018539
John Kevin Chu	Director	1 May 2013	Other	1759508
Donald Wayne Hultgren	Director	1 May 2013	Other	1475369
Richard Michael Jablonski	Executive vice president	1 Feb 2014	Other	2916358
John Patrick Schauerman	Director	1 Aug 2014	Other	6395051
Roc William Willis	Senior vice president	1 Nov 2014	Other	1110815
Richard Michael Jablonski	Executive vice president, cfo	1 Aug 2016	Other	2916358
David Weaver	Executive vice president, cfo & coo	1 Feb 2017	Other	1595517
William Alston Scott	Senior vice president	1 Jun 2017	Other	727543
Daniel Eric Billings	Executive vice president, cfo	1 Sep 2017	Other	4568232
Harlan Holt Thompson	Director	1 Mar 2018	Other	1453169
Gary Lance Wedbush	Co-president, director	1 May 2018	Other	2234455
Richard Michael Jablonski	Co-president, coo, director	1 May 2018	Other	2916358
Robert Gerard Fitzsimmons	Executive vice president	1 Aug 2018	Other	1878661

Indirect Owners

The SEC currently registers 1 indirect owner.

Name	Entity	Date acquired	Ownership	Employer ID
Edward William Wedbush	Shareholder, director	1 Nov 2004	50% - 75%	461221

Based in Los Angeles

The principal office where Wedbush Securities Inc. performs its advisory services is located at Attn: Business Conduct, Los Angeles, CA 90017, which is also the mailing address of the firm. An additional office of the firm is in Salem, OR. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 213-688-8000 or by fax 213-688-6653. The normal business hours are 7:00 am-5:00 pm on Monday - Friday. You can find more information about the New York firm at wedbush.com and its LinkedIn profile.