OUR HISTORY

Our strength as investment advisers originates from the history of our firm, which was founded in 1989, and continues a tradition of direct investment management that began in 1927.

A Tradition of Preserving and Growing Assets
In the optimism of the late Twenties, several distinguished partners came together on Wall Street to establish a merchant-banking firm known as Wertheim & Co., which eventually became a full service investment bank and brokerage firm.

Joseph Klingenstein

A founder of the firm, Joseph Klingenstein, helped the partnership benefit from his astute business abilities, whether he was making an investment or trading a position, or putting the firm’s capital to work in substantial real estate, oil and gas, and venture capital enterprises.

Even though he experienced success in business, Mr. Klingenstein’s primary interests were his family and his favorite charities. This is evidenced by his involvement with the Mount Sinai Medical Center for over three decades. In these and other endeavors he was known for following high standards of ethical behavior.

The talent for putting capital to work, prudently and successfully, was carried forward by Mr. Klingenstein’s son, Fred, who took over leadership at Wertheim from his father in the 1970s. Adept at encouraging his executives to meet the trends of the period, Mr. Klingenstein saw that the securities industry was rapidly changing, and he put in place a broader range of financial services at the firm. He also led a shift in the firm’s emphasis to investment banking and asset management, as well as institutional trading.

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