Wedbush Securities, a financial services firm based in California, has snapped up the assets of local advisory firm ABR Investment Strategy.
Financial terms of the transaction were not divulged.
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By GlobalDataABR prioritises growth companies, highlighting large secular shifts, technology adoption cycles, along with product cycles or regulatory changes.
As part of the deal, ABR CEO and technology leader Bradley Gastwirth will assume the role of chief technology strategist at Wedbush Equities Division.
Commenting on the deal, Gastwirth noted: “In deciding to sell, I was looking for a partner that is serious about serving its clients holistically with world class ideas, execution, and personal attention. That firm is Wedbush.”
In the new role, Gastwirth will report to Wedbush Securities managing director and head of equities Kirsten Fraunces.
Fraunces stated: “This transaction with ABR reinforces our mission of identifying technology trends and actionable investment strategies and opportunities.
“We are excited about growing our award-winning technology research and sales team, and the leadership Brad brings as Chief Technology Strategist to Wedbush.”
Wedbush offers wealth management, institutional sales, correspondent clearing services, equity research, fixed income trading, as well as prime brokerage services, among others.
The firm has 100 offices.
In 2014, Wedbush acquired certain assets related to KCG Futures.
