# 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.

- CRD: 171971
- Filed as: FIRST WILSHIRE SECURITIES MANAGEMENT, INC.
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Pasadena, CA
- Filing period: October 2026
- Form ADV filing dated: May 5, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/171971
- AdvisorCensus page: https://advisorcensus.com/firm/first-wilshire-securities-management-inc-pasadena-ca-171971

## Quick answers

**How 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.

**How much does First Wilshire Securities Management, Inc. charge?**
Its Form ADV Part 2A brochure dated May 5, 2026 states: Flat fee: $1,000 (Financial Review Services). Fees can differ by service and may be negotiable; the brochure is the complete statement.

**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

### Compensation (Item 5.E)
- A percentage of assets under your management
- Performance-based fees

### Fees and minimums (Form ADV Part 2A brochure dated May 5, 2026)

- Account minimum: $500,000

> 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.

- Flat fee: $1,000 (Financial Review Services)

> For our Financial Review Services, unless otherwise noted in the Client’s Agreement, Financial Review Services are provided at a fixed fee of $1,000.00.

As stated in the firm's brochure. Fees can differ by service and may be negotiable.

### Custodians (Schedule D, Section 5.K(3))
- Charles Schwab & Co., Inc.

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.

### Regulatory assets under management (Item 5.F)
- Total: $415,474,414
- Discretionary: $415,474,414
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | 73 | $24,425,837 |
| High net worth individuals | 202 | $305,660,949 |
| Pooled investment vehicles (other than investment companies and business development companies) | 2 | $55,725,184 |
| Pension and profit sharing plans (but not the plan participants or government pension plans) | 4 | $8,768,328 |
| Corporations or other businesses not listed above | 5 | $20,894,116 |

### 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

### Firm details
- Registered since: 1980 (46 years)
- Employees: 9 total, 6 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: AZ, CA, CO, CT, DC, DE, FL, GA, IL, KY, MA, MD, MI, MN, NC, NH, NJ, NV, NY, OH, OR, PA, SC, TN, TX, VA, WA
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Websites listed on Form ADV (Item 1.I)
- firstwilshire.com
- LinkedIn @FIRST-WILSHIRE-SECURITIES-MANAGEMENT-INC-

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $296,920,531 | 11 | March 27, 2021 |
| October 2022 | $359,077,070 | 11 | March 30, 2022 |
| October 2023 | $307,358,589 | 11 | March 28, 2023 |
| October 2024 | $328,779,338 | 9 | July 16, 2024 |
| October 2025 | $374,929,393 | 9 | March 28, 2025 |
| October 2026 | $415,474,414 | 9 | May 5, 2026 |

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.

## Changes in the filing (last 12 months)

### April 2026
- Regulatory assets under management went from $374,929,393 to $415,474,414 (+11%).

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. First Wilshire Securities Management, Inc. (CRD 171971): Form ADV filing data as of October 2026.