Wedbush Securities Reviews | Glassdoor

Wedbush Securities Reviews

Updated September 14, 2017
104 reviews

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3.0
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Wedbush Securities President and CEO Edward Wedbush
Edward Wedbush
58 Ratings

104 Employee Reviews

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Pros
Cons
  • No concern with creating tolerable work environment for employees (in 6 reviews)

  • The corporate culture is extremely negative and demoralizing, and employees are treated as expendable at any moment (in 3 reviews)

More Pros and Cons

  1. "Summer Legal Intern"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Legal in Los Angeles, CA
    Former Employee - Legal in Los Angeles, CA
    Recommends
    Approves of CEO

    Pros

    Easy flexible hours, good experience

    Cons

    good amount of down time


  2. Helpful (1)

    "Would not recommend to a friend"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee in Los Angeles, CA
    Former Employee - Anonymous Employee in Los Angeles, CA
    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO

    I worked at Wedbush Securities full-time (More than a year)

    Pros

    Work hours are east coast based, so you get off early.
    Some coworkers were genuinely nice.

    ...literally that was it...

    Cons

    Where to begin... I am not going to bad mouth just share my experience (perhaps other people had different experiences).

    Management could not care less about anyone below them's opinions. EVERYONE, tries to avoid responsibility and deflect blame. Top-Down, it felt like a very oppressive environment and there was a feeling of under-appreciation.

    Not that any of that mattered in a show-up, shut-up, do your job environment.

    (Just my experience)

  3. "Mr Wedbush is brilliant. Very loyal to his employees"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Vice President Operations in Los Angeles, CA
    Current Employee - Vice President Operations in Los Angeles, CA
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Wedbush Securities full-time (More than 5 years)

    Pros

    Job security, friendly staff, encourages and supports with the Sec exams, if needed. The HR team is outstanding.

    Cons

    Too many manual processing. Medical Insurance is high and pay can ve too low in some areas.

    Advice to Management

    Hire more system programmers.


  4. Helpful (3)

    "The worst ever"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Senior Vice President in Los Angeles, CA
    Former Employee - Senior Vice President in Los Angeles, CA
    Doesn't Recommend
    Negative Outlook

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

    Pros

    Some really great people functioning in a horrible culture.

    Cons

    Simply put, the cheapest most selfish company ever. In the dark ages technologically, culturally they put themselves first in every regard. The energy is downright awful, both in Los Angeles and local offices.

    Advice to Management

    Sell the company and get out of the game. The world has changed, moreso than even I imagined. You're not ever going to compete with Goldman, Morgan and the likes. Too far back in the race. Monetize your assets, congratulate yourself on your accomplishments and go out with dignity.


  5. "Wedbush"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee
    Recommends
    Neutral Outlook
    Approves of CEO

    I worked at Wedbush Securities (More than 10 years)

    Pros

    great co-workers, great location, decent benefits.

    Cons

    managment does not communicate, pay is not great, only 2 wks vacation for 10 year then only 3 for life.

    Advice to Management

    have more open communication with the staff


  6. Helpful (3)

    "Horrible culture"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee
    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO

    I worked at Wedbush Securities full-time

    Pros

    there are no pros for this company.

    Cons

    horrible culture. their way or the highway. backwards


  7. Helpful (7)

    "RUN AS FAST AND AS FAR AS YOU CAN FROM THIS PLACE (equities division) ..."

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Sales in New York, NY
    Current Employee - Sales in New York, NY
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    Pros

    Having said that:
    There are many good people who are stuck there
    Good place to get experience and leave
    One of few options to be in the business in Los Angeles ...

    Cons

    Poisonous corporate culture starts with executive management who are notoriously cheap, unwilling to invest in the business, don't care about employees, show little to no leadership.

    The cultural flaws continue at the division level as the leaders have truly unfounded arrogance (borderline psychotic), do not communicate with employees, do not care about employees, constantly exhibit irrational behavior in their communication with employees (many of the emails are absurd) .. I could go on.

    Advice to Management

    Its a hopeless situation ... end the misery and close the division. They know the business model doesn't work. From a broader corporate perspective, actually take some pride in the organization and change the toxic culture.

  8. Helpful (6)

    "Company in Transition"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Securities Processing in Los Angeles, CA
    Current Employee - Securities Processing in Los Angeles, CA
    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO

    I have been working at Wedbush Securities full-time (More than a year)

    Pros

    - Coworkers are generally nice and friendly
    - It's close to a lot of restaurants, and it is a block away from the metro station.

    Cons

    - Pay is on the industry low-end. Benefits such as health insurance and especially retirement benefits are uncompetitive. There is no matching 401K for non-exempt employees and no employee parking discount.
    - Employees must transfer their brokerage accounts to Wedbush... $5k trades cost $50 commissions round-trip and $10k+ trades cost $100+. (What a joke! While other online brokerage recently lowered theirs to $5, Wedbush is still charging these commission prices against their OWN employees. It wouldn't be so unbelievably bad if their trading platform, ClientLink wasn't such a POS.)
    - Company is slowly transitioning from being led by the CEO/founder to his two sons.The company is also going through reorganizations and is downsizing some of its' departments. Some departments were already stretched thin, so the reorg creates a lot of additional stress for remaining employees. Wouldn't surprise me to see turnover spike.
    - The CEO/founder personally reviews and approves invoices. For a man who has a reputation for his frugality, that means invoices can sometimes be in arrears for MONTHS. (Have fun dealing with the vendors!)
    - Some people, especially people that have been with the company for the long time, are complacent. Either they don't care or stopped caring. At times, the feelings of urgency to get things done and produce good quality of work just aren't there.
    - If annual performance review is mandated by the company, it isn't being followed. Please note that some other companies have QUARTERLY reviews. That means you don't get formal feedbacks from your manager, and it also means you have to approach your manager directly to ask for salary raises.

    Advice to Management

    - Change the corporate culture, push for innovation and better technology. Hire people that take pride in their work. Stop going with the status-quo.
    - After the reorganizations are done, fund the departments that actually need help. Give them to the resources they need to succeed.
    - The 80's called, they want their furnitures and carpet back.


  9. "Intern"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee in Los Angeles, CA
    Current Employee - Anonymous Employee in Los Angeles, CA
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Wedbush Securities part-time (Less than a year)

    Pros

    Great people to work with, all the analysts are very sociable and caring. You learn a lot as an intern.

    Cons

    You can tell there are some frustration towards management, but it shouldn't affect work experience as an intern

    Advice to Management

    More support for the employees.


  10. "Security Processing"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Security Processing Specialist in Los Angeles, CA
    Former Employee - Security Processing Specialist in Los Angeles, CA
    Recommends
    Positive Outlook
    No opinion of CEO

    I worked at Wedbush Securities (More than a year)

    Pros

    Great people working in the department, and the environment is fairly relaxed for the most part.

    Cons

    Repetitive work makes the day drag on. Pay on the lower end of the industry average.


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