Asset manager · Pasadena, CA
Western Asset Management Company
Western Asset Management Company, LLC · SEC-registered investment adviser · CRD 110441 · SEC 801-8162
At a glance
Western Asset Management Company is an SEC-registered investment adviser based in Pasadena, California, with $185.0 billion in regulatory assets under management as of its Form ADV filed September 16, 2026. Its largest client group by assets is investment companies, and it reports 30,418 individual clients. By Form ADV it is a asset manager, ranked 79th of 3,218 asset managers and 142nd of 17,210 SEC-registered advisers by assets.
Main office 626-844-9400westernasset.comLinkedInAs filed on Form ADV
- Regulatory AUM
- $185B
- Rank among asset managers
- #79 of 3,218
- Rank among all SEC RIAs
- #142 of 17,210
- Rank in California
- #11 of 1,873
- Individual clients
- 30,418
- High-net-worth clients
- 231
- Accounts
- 31,897
- Discretionary
- 98% of AUM
- Employees
- 137
- Advisory staff
- 82
- Offices
- 2
Owners and executives on its Form ADV
- Connie S. FischerDirector of Portfolio Operations
- Jennifer M. JohnsonNon-Employee Director
- Matthew NichollsNon-Employee Director
- Courtney A. HoffmannGeneral Counsel and Secretary
- Michael C. BuchananDirector and Chief Investment Officer
- Kim E. StoutChief Compliance Officer
- Jeffrey S. MasomHead-Us Distribution & Global Wealth Management Alternatives
Custody and brokerage
Broker-dealer
Hybrid RIA
Western Asset Management Company is a hybrid RIA: 42 of its employees are also registered representatives of a broker-dealer. It names affiliated broker-dealers: Franklin Distributors, LLC and Franklin Templeton International Services S.a R.L..
- Franklin Distributors, LLC ↗CRD 109064
An introducing broker-dealer: its trades clear through another firm, which holds the brokerage accounts. Its annual audited report filed with the SEC, December 2025
- Franklin Templeton International Services S.a R.L. ↗CRD 172140
Its Form ADV brochure (filed September 2026) names Franklin Distributors as the broker-dealer its advisers are registered with.
Certain Western Asset employees are registered with the Financial Industry Regulatory Authority (“FINRA”) as registered representatives through their affiliation with, Franklin Distributors, LLC (“FD, LLC”).
Who it serves
| Client type | Clients | Regulatory AUM | Share |
|---|---|---|---|
| Investment companies | 57 | $82B | 44% |
| Pooled investment vehicles | 48 | $28B | 15% |
| Insurance companies | 20 | $25B | 14% |
| State or municipal government entities | 21 | $12B | 6% |
| Pension and profit sharing plans | 451 | $9.9B | 5% |
| Individuals | 30,187 | $7.3B | 4% |
| Sovereign wealth funds and foreign official institutions | 3 | $6.9B | 4% |
| Corporations or other businesses | 583 | $5.6B | 3% |
| Charitable organizations | 292 | $5.3B | 3% |
| Other investment advisers | 2 | $2.4B | 1% |
| High-net-worth individuals | 231 | $750M | <1% |
| Banking or thrift institutions | 2 | $1M | <1% |
Private funds
Western Asset Management Company reports 33 private funds with $10B in gross assets: hedge funds, liquidity funds, securitized asset funds, other private funds (Form ADV Item 7.B).
Disciplinary disclosures
Western Asset Management Company answers yes to 6 disclosure items in Item 11 of Form ADV (criminal, regulatory or civil matters involving the firm or its advisory affiliates). Read the details on the SEC’s adviser search ↗
Services
- Portfolio management for individuals and small businesses
- Portfolio management for investment companies
- Portfolio management for pooled investment vehicles
- Portfolio management for businesses and institutions
How it’s paid
- A percentage of assets under management
- Performance-based fees
Form ADV and brochures on the SEC’s adviser search ↗westernasset.com ↗
SEC and FINRA actions
- SEC, Oct 6, 2026: $100MOther. Settled.Official release
- SEC, Jun 5, 2026: $100MSupervision. Settled without admitting or denying.Official release
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Ten years of SEC filings, its owners and contacts, and how it stacks up against its peers. Atlas members see all of it.
- Assets, accounts, clients and staff, ten years of filings
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- Rank against 154 peers of its type and size
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- Owners and executives, with titles and stakes
- 7 namedLocked
- Main office, fax and compliance officer
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- Filing changes this year, with alerts
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Background
Questions
How much does Western Asset Management Company manage?
Western Asset Management Company reports $185.0 billion in regulatory assets under management across 31,897 accounts, 98% of it on a discretionary basis, on its Form ADV filed September 16, 2026.
What kind of firm is Western Asset Management Company?
Western Asset Management Company is a asset manager by its Form ADV answers. Most of its assets are managed for funds, institutions or other businesses rather than individuals. A public reporting company controls it.
Who are Western Asset Management Company’s clients?
By assets, its largest client types are investment companies ($82.1 billion, 57 clients); pooled investment vehicles ($27.6 billion, 48 clients); insurance companies ($25.5 billion, 20 clients).
Does Western Asset Management Company manage private funds?
Yes. It reports 33 private funds with $10.3 billion in gross assets, including hedge funds, liquidity funds, securitized asset funds, other private funds.
Does Western Asset Management Company have any disciplinary history?
Western Asset Management Company answers yes to 6 disclosure items in Item 11 of Form ADV, which covers criminal, regulatory and civil matters involving the firm or its advisory affiliates. The details are on the SEC’s adviser search.
Where these numbers come from
Every figure is Western Asset Management Company’s own answer on its latest Form ADV, from the SEC’s registered-adviser list as of October 1, 2026: regulatory assets and accounts (Item 5.F), clients by type (5.D), employees (5.A and 5.B), compensation (5.E) and services (5.G). Custodians come from Schedule D 5.K(3) of its latest filing (2026-09-16), which lists those holding 10% or more of separately managed account assets and the amount at each. “Hybrid” means some employees are also registered representatives of a broker-dealer (Item 5.B(2)); affiliated broker-dealers are the related persons it lists in Item 7.A and Schedule D. Firm type comes from its own answers: broker-dealer firms are registered broker-dealers themselves (Item 6.A); private fund advisers manage mostly private funds (Item 7.B, 5.D); wealth managers manage at least half their assets for individuals (5.D). Ranks compare it by regulatory assets with every SEC-registered adviser and with firms of its type. Figures are as of the firm’s last annual update, so they can lag recent deals and market moves. Regulatory AUM counts assets the firm continuously supervises and can differ from what a firm markets.
Not an endorsement or a recommendation. Before hiring any adviser, read its Form ADV Part 2A brochure and check its record on the SEC’s adviser search. How to check a financial advisor →