Wedbush Securities Inc. is a privately held

investment firm An investment company is a financial institution principally engaged in holding, managing and investing securities. These companies in the United States are regulated by the U.S. Securities and Exchange Commission and must be registered under t ...

based in Los Angeles. As of February 2022, the firm had $4.1 billion under management with 7,460 clients.

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. The company was named after Wedbush because neither partner wanted a possible business failure named after them and Wedbush lost a coin toss. 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. In 1972, the firm began offering correspondent clearing services, providing trade execution for other

brokerage A broker is a person or firm who arranges transactions between a buyer and a seller for a commission when the deal is executed. A broker who also acts as a seller or as a buyer becomes a principal party to the deal. Neither role should be con ...

firms."He’s Still Smiling." ''Eugene Register-Guard'', May 22, 1974, p. 2C.

References

External links

* {{coord missing, Los Angeles County, California Investment banks in the United States Financial services companies established in 1955 Brokerage firms Companies based in Los Angeles 1955 establishments in California