First Wilshire Securities Management, Inc.

First Wilshire Securities Management, Inc. is an SEC-registered investment adviser based in Pasadena, CA, providing discretionary investment management services to various clients, including individuals, pension plans, charitable organizations, and corporations. Established in an undisclosed year, the firm primarily focuses on managing separately managed accounts (SMAs) investing in equity securities, with a specialization in small and micro-cap U.S. and foreign equities. The investment strategy follows a value investment philosophy, predominantly in small-cap securities, without tailoring strategies to individual client needs or traditional benchmarks. The firm offers three types of advisory services: SMA Investment Management, Custom Portfolio Management, and Financial Review Services. SMA clients are charged tiered annual fees based on assets under management. First Wilshire does not generally tailor investment strategies for SMA clients but may accommodate reasonable restrictions. The firm's fee structure is disclosed, and it does not receive commissions for third-party research or order flow. Clients have a minimum new account investment of $500,000, with the option to consider smaller accounts under specific conditions. First Wilshire does not have any reportable disciplinary history and has implemented a Code of Ethics to ensure compliance with federal securities laws and ethical standards. The firm does not maintain custody of client assets, and clients receive account statements directly from the custodian. Clients have the option to direct brokerage, and the firm may aggregate trades for cost efficiency. First Wilshire also discloses its proxy voting and class action claims processing procedures to ensure transparency and client protection.