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]
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| Company type | Private |
|---|---|
| Industry | Financial services |
| Founded | 1955 Los Angeles, California |
| Founders |
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| Headquarters | 1000 Wilshire Boulevard Los Angeles, CA 90017 |
Key people | Gary L. Wedbush (President) |
| AUM | US$4.5 billion (2024) |
Number of employees | 980 (2024) |
| Website | wedbush |
| Footnotes / references [1] | |
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]