AdvisorCensus / Financial advisors / California / Los Angeles / First Wilshire Securities Management, Inc.
First Wilshire Securities Management, Inc.
Filed as FIRST WILSHIRE SECURITIES MANAGEMENT, INC.
First Wilshire Securities Management, Inc. is an SEC-registered investment advisory firm in Pasadena, CA, registered since 1980, reporting $100 million to $500 million in regulatory assets under management in its Form ADV filing dated May 5, 2026.
Quick answers
From the filingHow is First Wilshire Securities Management, Inc. compensated?
On its Form ADV (Item 5.E, October 2026), First Wilshire Securities Management, Inc. reports these compensation arrangements: a percentage of assets under its management; performance-based fees.
Where is First Wilshire Securities Management, Inc. located?
First Wilshire Securities Management, Inc.'s principal office is in Pasadena, CA, according to its Form ADV.
Is First Wilshire Securities Management, Inc. registered with the SEC or a state?
First Wilshire Securities Management, Inc. is an SEC-registered investment advisory firm, registered since 1980. Status as filed: Approved. CRD 171971.
How much does First Wilshire Securities Management, Inc. manage?
First Wilshire Securities Management, Inc. reports $415,474,414 in regulatory assets under management in its Form ADV filing dated May 5, 2026 (100% discretionary).
How have First Wilshire Securities Management, Inc.'s assets and staff changed since 2021?
In the Form ADV data for First Wilshire Securities Management, Inc.: Regulatory assets under management: $296,920,531 in the October 2021 data and $415,474,414 in the October 2026 data, up 40%. Total employees: 11 in October 2021 and 9 in October 2026. Assets under management move with markets as well as with clients coming and going.
What types of clients does First Wilshire Securities Management, Inc. serve?
By number of clients on Form ADV Item 5.D: high net worth individuals (202); individuals (other than high net worth individuals) (73); corporations or other businesses not listed above (5).
Which custodians does First Wilshire Securities Management, Inc. use?
First Wilshire Securities Management, Inc.'s most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Charles Schwab & Co., Inc. as a custodian holding 10% or more of its separately managed account assets.
Does First Wilshire Securities Management, Inc. report any disciplinary disclosures?
Reports no disclosure items on Form ADV Item 11. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/171971
Does First Wilshire Securities Management, Inc. state an account minimum?
Its Form ADV Part 2A brochure dated May 5, 2026 says: "Our current minimum new account investment is $500,000. Accounts of smaller size will be considered under certain conditions; e.g., householding, combining with an existing Client relationship, or other circumstances."
What changed in First Wilshire Securities Management, Inc.'s recent Form ADV filings?
In the April 2026 filing data: Regulatory assets under management went from $374,929,393 to $415,474,414 (+11%).
From the Form ADV filing
Every figure below is as the firm filed it with regulators, as of October 2026.
How the firm is compensated
Item 5.E- A percentage of assets under your management
- Performance-based fees
Item 5.E lists how the firm is compensated for its advice; Items 5.B, 6.A, and 7.A show whether its people or related companies can also earn commissions. Percentage of assets, fixed, hourly, subscription, and performance-based fees come from clients (a performance-based fee depends on investment results); commissions come with a sale or a trade, often from the company behind the product. How fees, commissions, and other arrangements differ
Fees and minimums
Form ADV Part 2AThe brochure lists different fees for different services or strategies; see the brochure for them.
Account minimum: $500,000
The brochure's wording
Our current minimum new account investment is $500,000. Accounts of smaller size will be considered under certain conditions; e.g., householding, combining with an existing Client relationship, or other circumstances.
As stated in the firm's Form ADV Part 2A brochure dated May 5, 2026. Fees can differ by service and may be negotiable; the brochure is the complete statement. Read the brochure on the SEC's IAPD site
Regulatory assets under management
Item 5.F$415,474,414 as of October 2026, filing dated May 5, 2026.
A measure of scale, not skill or returns. Discretionary means the firm decides trades; non-discretionary means clients approve each one. What assets under management means
Who the firm serves
Item 5.DA firm with no individual clients is an institutional manager even if it manages billions; the mix tells you whom the practice is built around.
Advisory services
Item 5.G- Financial planning services
- Portfolio management for individuals and/or small businesses
- Portfolio management for pooled investment vehicles (other than investment companies)
- Portfolio management for businesses (other than small businesses) or institutional clients
Registration and firm details
Items 1, 2, 5- Registration
- SEC-registered investment adviser. Status as filed: Approved.
- Registered since
- 1980 (46 years)
- Employees
- Total: 9. Performing investment advisory functions: 6.
- Wrap fee program participation
- No.
- Custodians (Schedule D, Section 5.K(3))
-
Custodians holding 10% or more of the firm's separately managed account assets, as filed on Form ADV (Schedule D, Section 5.K(3)). A custodian holds client assets; it does not endorse or supervise the firm. AdvisorCensus has no relationship with any custodian.
- States registered or notice-filed
-
27 states or jurisdictions
SEC-registered investment advisers are examined by the SEC. SEC, state, and exempt registration
Disclosures
Item 11None Reports no disclosure items on Form ADV Item 11. View on IAPD.
Item 11 asks about criminal, regulatory, and civil events involving the firm and its advisory personnel. The detail of each yes answer is on the IAPD record. Reading a firm's disclosures
Assets and staff over time
Items 5.A, 5.F| Data period | Assets under management | Employees | Filing dated |
|---|---|---|---|
| October 2026 | $415,474,414 | 9 | May 5, 2026 |
| October 2025 | $374,929,393 | 9 | March 28, 2025 |
| October 2024 | $328,779,338 | 9 | July 16, 2024 |
| October 2023 | $307,358,589 | 11 | March 28, 2023 |
| October 2022 | $359,077,070 | 11 | March 30, 2022 |
| October 2021 | $296,920,531 | 11 | March 27, 2021 |
Regulatory assets under management: $296,920,531 in the October 2021 data and $415,474,414 in the October 2026 data, up 40%.
Total employees: 11 in October 2021 and 9 in October 2026.
As filed in each year's data for the same month. Assets under management move with markets as well as with clients coming and going; they measure scale, not skill or returns. Most firms update these figures once a year.
Changes in the filing
Last 12 months- April 2026
- Regulatory assets under management went from $374,929,393 to $415,474,414 (+11%).
Compared month to month from the SEC's monthly adviser data and the state compilation feed. Owners and control persons are summarized, never named.
Websites listed on Form ADV
Item 1.ISource: Form ADV, as of October 2026. Values appear as filed; a value the firm did not report is shown as "Not reported."
Cite this page
AdvisorCensus. First Wilshire Securities Management, Inc. (CRD 171971): Form ADV filing data as of October 2026. https://advisorcensus.com/firm/first-wilshire-securities-management-inc-pasadena-ca-171971