Wedbush Securities

  www.wedbush.com
  www.wedbush.com

Wedbush Securities Reviews

Updated November 26, 2014
Updated November 26, 2014
48 Reviews
2.7
48 Reviews
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Wedbush Securities President and CEO Edward Wedbush
Edward Wedbush
33 Ratings

Employee Reviews

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  1.  

    Okay Company

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Anonymous Employee in Los Angeles, CA
    Former Employee - Anonymous Employee in Los Angeles, CA

    I worked at Wedbush Securities full-time (more than an year)

    Pros

    Most employees are friendly and laid back.
    10 paid vacation days a year (after 1st year)
    10 paid sick days a year

    Cons

    Doesn't pay as much as other firms

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  2. 1 person found this helpful  

    This company is HORRIBLE

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at Wedbush Securities

    Pros

    nothing but a short term job

    Cons

    bad compensation bad management bad ideas

    Advice to ManagementAdvice

    please quit and destroy another firm ASAP

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  3. 2 people found this helpful  

    Founder and CEO micromanages everything

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Accounting in Los Angeles, CA
    Former Employee - Accounting in Los Angeles, CA

    I worked at Wedbush Securities full-time (more than an year)

    Pros

    Nice friendly people. The downtown office is close to the subway station and cheap parking lots

    Cons

    CEO micromanages everything. Extremely high turnover in accounting due to people resigning. That alone says something about the company.

    Advice to ManagementAdvice

    Delegate duties and assignments. Stop micromanaging.

    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO
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  5. 3 people found this helpful  

    A Terrible Expierence

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at Wedbush Securities full-time (more than 5 years)

    Pros

    You will get a paycheck but salary is not competitive. The only good thing was my immediate supervisor at the branch level. She made life tolerable.

    Cons

    Where to start? There is no written policy or procedure manual, therefore the rules change weekly and most times things are made up as you go along. The benefits are terrible. One year our "benefits" package was presented to us on December 15th with one week to decide your options. It was pretty much presented with a take it or leave it attitude. There was never a short term disability benefit offered. The sick leave policy is not very well stated or communicated to employees (those of you who still work there know what I'm talking about). All offices were to remain open until 4:00 pm on Christmas eve, mandatory! No one was to be excused early. Therefore I sat at my work station until 4:00 pm. This also happened on the day after Thanksgiving. Employees are treated like second hand citizens. Equipment is antique. Wedbush will adopt new software packages only to realize that our computers won't be able to accommodate the update. Not much thought ever goes into these decisions.

    Advice to ManagementAdvice

    I tried adding suggestions to the "suggestion box" but nothing was ever adopted. Not much use to giving advise to management.

    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO
  6. 2 people found this helpful  

    The worst job EVER.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Equity Research Associate in Los Angeles, CA
    Current Employee - Equity Research Associate in Los Angeles, CA

    I have been working at Wedbush Securities (more than an year)

    Pros

    If you are desperate to get a banking or equity research job, while living in LA - this is the only game in town.

    Cons

    AWFUL company culture (I have seen several management-planted "reviews," which are complete fabrications - disregard. All lies), poor pay, nasty hours, smelly office, ancient equipment... And terrible morale. Everyone wants to find something better.

    Advice to ManagementAdvice

    They have heard it: pay people better, replace the carpeting... And stop relying on your naked access business as much as you do - it will hurt the firm in the long run.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  7. 3 people found this helpful  

    Tough place to work.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Sales Assistant in Los Angeles, CA
    Former Employee - Sales Assistant in Los Angeles, CA

    I worked at Wedbush Securities full-time (more than 3 years)

    Pros

    There is not much positive to say about my experience at Wedbush. They do not care about their employees, the push them, under pay them, and are ok with high turnover.

    Cons

    They do not seem to care about turnover in Sales. The leadership is misguided and do not provide much of a platform to learn quickly or to train the employees.

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
  8. 8 people found this helpful  

    Worst place I've ever worked

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Equity Sales and Trading
    Former Employee - Equity Sales and Trading

    I worked at Wedbush Securities full-time (more than 3 years)

    Pros

    A job at Wedbush is really only a place holder on your resume until you find something better. You receive a miniscule paycheck, and given the cheap nature of the firm, you don't have to worry about the check bouncing.

    Cons

    Managers at Wedbush utilize fear tactics, threats, emotional harassment, and intimidation to manage employees. Managers seem to relish their power, creating illogical rules and procedures as a way to control employees, and then enforcing those rules in a haphazard fashion depending on whether you suck up enough to them. The corporate culture is extremely negative and demoralizing, and employees are treated as expendable at any moment. The firm is beyond cheap, to the point that it consistently nickels and dimes its own employees. Managers come up with a multitude of different, arbitrary reasons to lower any payout to you, and you won’t know you’ve been docked unless you pay careful attention to your paystub. What are considered standard costs of doing business at most investment banks are actually deducted from employees pay at Wedbush, and that is on top of the lower than industry average percent payout that Wedbush pays its employees and brokers. Employees are treated as another profit center to the firm and are required to only have brokerage accounts at Wedbush. Once you’ve moved any account over to Wedbush, the exorbitant fees begin to accumulate from trading fees at least 10 times the standard amount, activity fees on top of trading fees (I still haven’t received a good explanation of how an activity fee is different than a transaction fee), and annual fees to custody any tax-deferred account (and that’s only a few of the many random fees employees are charged). On top of all those fees, once you leave Wedbush and are able to transfer your account to another brokerage firm, Wedbush charges you an astronomically high fee to actually transfer your funds out (never mind that the only reason you had transferred money to a Wedbush brokerage account was because you were required to as part of your employment). Given the cheap nature of management, benefits are terrible, with very expensive health care options, limited time off (actually none for the first year of employment, though they don’t tell you that upfront), and unclear sick leave policies.

    Advice to ManagementAdvice

    Corporate culture needs to be changed from the top down. Managers need to learn how to effectively manage and motivate employees. Employees should be treated with respect and as valued members of the team instead of mere cogs in the wheel that are replaceable at any moment. Fear and intimidation are not the best way to get your employees to work their hardest. Managers that don't actually do anything, but merely parrot what their department heads say, should be let go since they only cost the firm money. Emotional harassment should not be tolerated, and instead of focusing solely on what an employee has done wrong, managers should also let employees know when they've done a good job. Positive reinforcement and valuing your employees does not have to cost money to be effective.

    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO
  9. 2 people found this helpful  

    Good for licensing and first job experience on your resume

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Anonymous Employee in Los Angeles, CA
    Former Employee - Anonymous Employee in Los Angeles, CA

    I worked at Wedbush Securities full-time (more than 8 years)

    Pros

    - Getting FINRA licenses
    - Good for new college graduate's resume
    - Close to public transportation into downtown

    Cons

    -All of the 5 star reviews here are submitted by the marketing department - they are 100% bogus.
    -The above should tell you how pitifully bad this company is to work for.
    - There are some talented senior executives and highly experienced securities professionals. Generally they are completely ignored, while very inexperienced and untrained managers are promoted and given responsibilities beyond their abilities. Bizarre upper management decisions make life miserable for everyone.

    Advice to ManagementAdvice

    Clean up your act! If you have to have your marketing department post wildly inaccurate reviews here, that should be your first clue serious changes have to be made. What a shame. Could be a great place to work.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  10.  

    Corporate Experience

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Business Analyst in Los Angeles, CA
    Current Employee - Business Analyst in Los Angeles, CA

    I have been working at Wedbush Securities full-time (more than an year)

    Pros

    Wedbush gives you a full corporate experience and allows you thrive with a healthy work / life balance that is rare at other firms. Headquarters are in DTLA, with good benefits and competitive pay. The firm was started by a family and therefore continues to function on the cornerstones of good values.

    Cons

    Price of parking
    Located in Downtown LA - Far commute from south Los Angeles
    Traffic - Leaving after 4pm sucks
    Senior Mgmt can be frustrating

    Recommends
    Neutral Outlook
    Approves of CEO
  11.  

    A wonderful organization

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Manager in Los Angeles, CA
    Current Employee - Manager in Los Angeles, CA

    I have been working at Wedbush Securities full-time (less than an year)

    Pros

    Working at Wedbush is refreshing. Everyone is extremely friendly and seems to enjoy their careers. Management actually seems to care about employees given that a strong work/life balance is encouraged. The atmosphere is focused on productivity while at the same time keeping a light-hearted feel.

    Cons

    In reading through some of the other reviews, it seems as though previous complaints have been addressed. My best advice to a prospective employee would be to come in and meet the team, see the office environment and decide for yourself.

    Advice to ManagementAdvice

    Keep listening to, and addressing, employee concerns. There seems to be a nice momentum of continual improvement.

    Recommends
    Positive Outlook
    Approves of CEO

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