Wedbush Securities

Wedbush Securities Inc. is a privately held investment firm based in Los Angeles.[1] As of February 2021, the firm has $2.4Bn under management with about 6,000 clients.[2]

Wedbush Securities
TypePrivate
IndustryFinancial Services
FoundedLos Angeles, California
(1955)
FounderEdward W. Wedbush
Headquarters1000 Wilshire Boulevard
Los Angeles, CA 90017
Key people
  • President:
  • Gary L. Wedbush
Websitewedbush.com

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.[3] The company was named after Wedbush because neither partner wanted a possible business failure named after them and Wedbush lost a coin toss.[4]

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.[5] In 1972, the firm began offering correspondent clearing services, providing trade execution for other brokerage firms.[6]

References
  1. "Our Firm". Wedbush.
  2. "Wedbush Securities Inc". Money. U.S. News and World Report. Retrieved 6 February 2021.
  3. "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
  4. Hamilton, Walter. "Edward Wedbush's roof leaks, but his wallet doesn't". LA Times. Retrieved 25 October 2011.
  5. "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.
  6. "He’s Still Smiling." Eugene Register-Guard, May 22, 1974, p. 2C.

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