Westside Investment Management, Inc. (Santa Monica)

Name: Westside Investment Management, Inc.
Address: 2444 Wilshire Blvd, Santa Monica, CA, 90403
Telephone: 310-315-9400

Westside Investment Management, Inc. is a large advisory firm based in Santa Monica. It manages $439.2 million of regulatory assets for 920 client accounts. It has been registered with the SEC as an adviser since 2015 and has operated in the jurisdictions of California, Hawaii, Nevada, Oklahoma, and Texas.

Westside Investment Management provides financial planning services, portfolio management for individuals and small businesses, portfolio management for businesses and institutional clients, selection of other advisers, educational seminars and workshops, and financial consulting. It prepares financial plans for more than 100 clients. On top of advisory services, the firm doesn't engage in other business activities.

Westside Investment Management: assets under management

The assets under management (AUM) of Westside Investment Management, Inc. is $439.2 million, all of which is managed in discretionary accounts. The firm's AUM has grown by 36% since the beginning of its operation, and $6.47 million of the total AUM is attributable to clients outside of the United States.

The firm manages $439.2 million in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $477.4 thousand each.

Investments

The firm invests in exchange traded securities the most. They account for 86% of the total AUM. The second-largest asset type is investment grade corporate bonds, which make up 7% of the firm’s portfolio. Investments in government bonds form 7% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Westside Investment Management, Inc. for their services and products based on a percentage of assets under management, hourly charges, and fixed fees. Compensation based on assets under management promotes a long-term relationship between a client and the adviser and helps align mutual interests. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Westside Investment Management serves?

The firm provides services to individuals and high net worth individuals. The largest group of clients of Westside Investment Management is individuals with 456 clients and $339.2 million of assets under management. Among the 11 most similar advisory firms, Westside Investment Management has the 5th highest percentage of individuals out of all clients.

The amount of regulatory assets under management is $439.2 million for 593 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. 1% of the firm’s clients are foreign persons or businesses.

Westside Investment Management doesn't advise any private funds.

Careers at Westside Investment Management, Inc.

The company employs 8 people that are either part- or full-time employees. 100 percent of the employees work as investment advisers or researchers. No employees are registered as investment adviser representatives with the state securities authorities.

There isn’t anyone with the role of looking for and bringing in new clients on behalf of the firm. The firm doesn’t compensate employees in addition to the salary for bringing in new clients. Employees don’t receive compensation from other entities for client referrals.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
David Todd Clark	Shareholder & co-founder	1 Jun 2010	50% - 75%	2219822
James Michael Frawley	Shareholder, co-founder & chief compliance officer	1 Jun 2010	50% - 75%	2867752
Cecilia Atienza Sibley	Compliance officer	1 Dec 2016	Other	2354857

Based in Santa Monica

The principal office where Westside Investment Management, Inc. performs its advisory services is located at 2444 Wilshire Blvd, Santa Monica, CA 90403, which is also the mailing address of the firm. An additional office of the firm is in Wailuku, HI. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 310-315-9400 or by fax 310-315-9401. The normal business hours are 9:00 am to 5:00 pm on Monday - Friday. You can find more information about the New York firm at westsideim.com.