Asset manager · Santa Monica, CA
Wilshire
Wilshire Advisors LLC · SEC-registered investment adviser · CRD 6210 · SEC 801-36233
At a glance
Wilshire is an SEC-registered investment adviser based in Santa Monica, California, with $149.1 billion in regulatory assets under management as of its Form ADV filed October 1, 2026. Its largest client group by assets is other investment advisers. By Form ADV it is a asset manager, ranked 100th of 3,218 asset managers and 187th of 17,210 SEC-registered advisers by assets.
Main office 310-451-3051wilshire.comLinkedInAs filed on Form ADV
- Regulatory AUM
- $149B
- Rank among asset managers
- #100 of 3,218
- Rank among all SEC RIAs
- #187 of 17,210
- Rank in California
- #16 of 1,873
- Clients
- 760,289
- Accounts
- 650,319
- Discretionary
- 99% of AUM
- Employees
- 307
- Advisory staff
- 86
- Offices
- 6
Owners and executives on its Form ADV
- Jason A. SchwarzChief Executive Officer
- Joshua M. EmanuelChief Investment Officer
- Steven M. O'ConnorChief Compliance Officer
- Erin R. SimpsonHead of Operations and Risk
- Jason HubschmanCo-Chief Operating Officer
- Johanna E. ValvaCo-Chief Operating Officer
- Christina M. WalshChief Financial Officer
Custody and brokerage
Custodian
- American Enterprise Investment Services$92B
Broker-dealer
Hybrid RIA
Wilshire is a hybrid RIA: 17 of its employees are also registered representatives of a broker-dealer.
Its Form ADV brochure (filed March 2026) names Foreside Financial Group as the broker-dealer its advisers are registered with.
Certain Wilshire employees are also registered representatives of Foreside Financial Group, LLC, a registered broker-dealer.
Who it serves
| Client type | Clients | Regulatory AUM | Share |
|---|---|---|---|
| Other investment advisers | 662,119 | $92B | 62% |
| Pooled investment vehicles | 101 | $42B | 28% |
| Pension and profit sharing plans | 94,431 | $8.5B | 6% |
| Other | 3,581 | $2.7B | 2% |
| Investment companies | 4 | $1.8B | 1% |
| State or municipal government entities | 29 | $1.5B | 1% |
| Charitable organizations | 19 | $499M | <1% |
| Sovereign wealth funds and foreign official institutions | 5 | $49M | <1% |
| Corporations or other businesses | – | $0M | <1% |
Private funds
Wilshire reports 95 private funds with $42B in gross assets: hedge funds, private equity funds (Form ADV Item 7.B).
Disciplinary disclosures
Wilshire answers yes to 5 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
- Pension consulting
- Selecting other advisers
- Periodicals or newsletters
- Educational seminars and workshops
How it’s paid
- A percentage of assets under management
- Fixed fees
- Performance-based fees
- Other
Form ADV and brochures on the SEC’s adviser search ↗wilshire.com ↗
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The full record on Wilshire
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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- Growth over one, three and five years
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- Rank against 171 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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Free while Atlas launches: create a free account and confirm your email. Every figure comes from SEC filings.
Background
Questions
How much does Wilshire manage?
Wilshire reports $149.1 billion in regulatory assets under management across 650,319 accounts, 99% of it on a discretionary basis, on its Form ADV filed October 1, 2026.
What kind of firm is Wilshire?
Wilshire is a asset manager by its Form ADV answers. Most of its assets are managed for funds, institutions or other businesses rather than individuals.
Who are Wilshire’s clients?
By assets, its largest client types are other investment advisers ($92.4 billion, 662,119 clients); pooled investment vehicles ($41.6 billion, 101 clients); pension and profit sharing plans ($8.5 billion, 94,431 clients).
Does Wilshire manage private funds?
Yes. It reports 95 private funds with $41.7 billion in gross assets, including hedge funds, private equity funds.
Does Wilshire have any disciplinary history?
Wilshire answers yes to 5 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 Wilshire’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 (2026-09-02), 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 →