Wedbush has expanded its operations in Southern California with the addition of a former Morgan Stanley advisor to its Newport Beach, Calif., office.
The firm recruited Mark Heiden, a 40-year industry veteran, to be a managing director of investments. He is joined by his son, financial advisor Devin Heiden; his daughter, Micaela Heiden, a client services associate; and Jed Sunga, also a client associate.
Heiden began his career in capital markets, opening his own boutique investment banking firm. He later sold the business and joined his fathers financial advisory practice. He began at Sutro & Co. in 2000, according to registration records with FINRA. He then moved to RBC Dain Rauscher and had been at Morgan Stanley since 2007, according to public records.
Wedbush does not disclose assets under management but said that he will be one of the firms top advisors.
The Los Angeles-based firm currently has around 400 advisors across approximately 100 branch offices. According to Wes Long, the head of private client services, the goal is to grow the firm to 700 advisors in the next five years, primarily through the addition of veteran advisors.