WAM Capital Announces Investment in Chelsea Management Company

LOS ANGELES, Sept. 14, 2016 (GLOBE NEWSWIRE) -- WAM Capital, LLC, an investment entity of WEDBUSH, Inc., is proud to announce that earlier this year, it invested directly into Los Angeles-based Chelsea Management Company. Through this investment, WAM Capital continues to expand and grow WEDBUSH, Inc.'s long and rich history of supporting financial services related companies through equity investments and operational support.

Eric Wedbush, President, WEDBUSH, Inc., stated, "We've known Fred and his firm for some time now, and the more we discussed, the more we realized that we not only share a similar history, but also a similar mindset regarding the importance of providing exceptional client service. It was a natural fit for us to make this investment, which also provided a means of liquidity for some of Chelsea's earliest shareholders. We are confident that our joint partnership will help Chelsea continue to provide its clients with the service they have come to expect, while also allowing Chelsea and its clients to leverage the resources of Wedbush."

Fred Ruopp, Chairman of Chelsea Management Company, also added, "Partnering with Wedbush and WAM Capital allows us to leverage the strengths of Wedbush, including an enhanced technology platform, as well as a robust wealth management platform offering. Clients will now have access to an expanded suite of specialized investment products, allowing us to further meet their needs and objectives. Some of our clients have already taken advantage of the synergies of this partnership. We are very pleased to partner with WAM Capital and Wedbush as we help our clients grow."

WAM Capital and its subsidiary, Wedbush Asset Management, provide a focused investment platform for wealth management-related firms and Registered Investment Advisors ("RIAs"). Through its competitive, state-of-the-art wealth management platform, RIAs are able to run their business more efficiently, while also allowing Advisors to customize solutions for their clients. WAM Capital is expected to make additional investments into similar companies in the future, including minority and majority investments directly into RIAs, as well as providing capital and a platform for Advisors looking to break away from their current broker-dealer.

About Chelsea Management Company
Founded in 1971, Chelsea Management Company provides independent investment counsel, with over $600 million in assets managed. The primary focus is equity-oriented and fixed income accounts. Its team of financial experts adheres to a disciplined approach that yields time-tested results. The firm caters to individuals, insurance companies, endowment funds, religious organizations, employee benefit plans, pooled investment vehicles, pension and profit sharing plans, charitable organizations, and corporations. Chelsea Management Company is based in Los Angeles, California.

About WEDBUSH, Inc.
WEDBUSH, Inc. is an investment firm whose current holdings includes broker dealers, registered investment advisors, private and public equity funds, and financial technology companies. Founded in 1955, the firm's largest holding, Wedbush Securities, is one of the largest full-service securities firms and investment banks in the nation, providing financial solutions through Client Services, Capital Markets, and Clearing & Execution. WEDBUSH, Inc. includes affiliated firms Wedbush Securities, WAM Capital, Wedbush Asset Management, Wedbush Capital Partners, Wedbush Opportunity Partners, and Lime Brokerage, LLC.
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CONTACT: Teny Josephbek publicrelations@wedbush.com 213.688.8057

Source:Wedbush Securities