Wellington Shields & Co., LLC

Wellington Shields & Co. provides discretionary and non-discretionary portfolio management and brokerage services to individuals (including high‑net‑worth clients), corporations, trusts, pension and profit‑sharing plans, and other institutional clients, managing approximately $470.9 million across roughly 514 client relationships through a team of about 15 advisors. The firm offers both advisory accounts (including a wrap‑fee program) and an Advisory Brokerage Group alternative that executes on a commission/transaction basis and introduces customers to its clearing firm, BNY Pershing.

WSC establishes client‑specific objectives and suitability profiles and employs a mix of investment methods — including fundamental and technical analysis, charting, options strategies, margin use, and third‑party manager selection — across equity, balanced and fixed‑income mandates. Accounts are monitored on an ongoing basis with formal reviews at least annually, and the firm uses both in‑house portfolio managers and affiliated advisers to implement customized guidelines.

What is distinctive in the brochure is WSC’s dual registration as a broker‑dealer and SEC‑registered investment adviser, its affiliated advisory entities and its role as underwriter/distributor for an affiliated investment trust, and the firm’s disclosed revenue arrangements with BNY Pershing (including cash revenue sharing, asset credits, retention payments and retained margin interest). The brochure also discloses past broker‑dealer regulatory matters (a 2019 FINRA record‑keeping action and a 2024 NYSE censure) and notes that the firm updated its custody practices after a 2022 SEC deficiency and is subject to annual surprise custody audits.