Wescap Management Group Inc (Glendale)

Name: Wescap Management Group Inc
Address: 330 N. Brand Blvd, Glendale, CA, 91203
Telephone: 818-563-5170

Wescap Management Group Inc is a large advisory firm based in Glendale. It manages $865.7 million of regulatory assets for 377 client accounts. It has been registered with the SEC as an adviser since 2001 and has operated in the jurisdictions of Arizona, California, Colorado, and 5 other states.

Wescap Management Group provides financial planning services, portfolio management for individuals and small businesses, and portfolio management for pooled investment vehicles. It prepares financial plans for more than 250 clients. On top of advisory services, the firm doesn't engage in other business activities.

Wescap Management Group: assets under management

The assets under management (AUM) of Wescap Management Group Inc is $865.7 million. The firm's AUM has grown by 252% since the beginning of its operation, and $1.7 million of the total AUM is attributable to clients outside of the United States.

The firm manages $698.8 million in discretionary accounts and $166.9 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $1.95 million each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $9.27 million.

Wescap Management Group has custody of $264 million in cash and securities for 216 clients in total and acts as a qualified custodian.

Investments

The firm invests in investment and business development companies the most. They account for 78% of the total AUM. The second-largest asset type is exchange traded securities, which make up 10% of the firm’s portfolio. Investments in pooled investment vehicles form 8% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Wescap Management Group Inc for their services and products based on a percentage of assets under management, hourly charges, and fixed fees. Flat-fee based compensation is the most transparent and the one you can safely predict in advance. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Joel Stephen Edstrom serves?

The firm provides services to individuals, charitable organizations, high net worth individuals, and pooled investment vehicles. The largest group of clients of Joel Stephen Edstrom is high net worth individuals with 245 clients and $775.5 million of assets under management. Among the 7 most similar advisory firms, Wescap Management Group has the 2nd highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $865.7 million for 377 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.

Wescap Management Group also advises several private funds. Namely, one hedge fund. The minimum investment commitment required of non-related persons is $500,000 for each fund.

Careers at Wescap Management Group Inc

The company employs 15 people that are either part- or full-time employees. 100 percent of the employees work as investment advisers or researchers. 7 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.

Joel Stephen Edstrom has been acting as President since 1 Apr 1988. Eric Anthony Weinlein joined the executive team most recently as the Chief Financial Officer, Chief Compliance Officer.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Eric Anthony Weinlein	Chief financial officer, chief compliance officer	1 Apr 1988	50% - 75%	1062833
Joel Stephen Edstrom	President	1 Apr 1988	25% - 50%	4340229
Margaret Irene Adams	Shareholder	1 Apr 1988	25% - 50%	4340233

Based in Glendale

The principal office where Wescap Management Group Inc performs its advisory services is located at 330 N. Brand Blvd, Glendale, CA 91203, which is also the mailing address of the firm. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 818-563-5170 or by fax 818-563-5174. The normal business hours are 8:30 am to 5:00 pm on Monday - Friday. You can find more information about the New York firm at wescapgroup.com.