Westminster Financial Companies traces its origins back to 1967 when Lawrence D. Brazie opened an office as a proprietary general agent for a top-notch fraternal life insurance company. L. Miles Brazie, his son and current CEO of Westminster, joined the firm in 1977 to assist in the growth of his father’s business, which had expanded to over 22 financial consultants.
In 1984, to better serve its representatives and their clients, Westminster Financial decided to discontinue their relationship of 17 years with the insurance institution and expand its business offerings and consulting capabilities as an independent firm. As a result, Westminster realized even greater success and, in 1987, decided to form its own independent broker-dealer.
In October 1987, Westminster Financial Securities, Inc. was granted its license by the Financial Industry Regulatory Authority (FINRA) allowing the firm the freedom to create its own products and choose its own vendors.
In that same year, Westminster Financial Advisory was formed. This unit was designed to operate as an SEC registered investment advisor providing fee-based asset management services to financial consultants and their clients, as well as fee-based financial consulting.
Westminster Financial Agencies, the insurance arm within Westminster Financial Companies, was incorporated in 1990. This fully-licensed insurance agency was created to provide life, health, disability, and long-term care insurance products as well as annuities and pension plans to our advisors and their clients.
The three separate companies were formally merged under the Westminster Financial Companies umbrella in 1997 at which time L. Miles Brazie was named the Chief Executive Officer and a Board of Directors was created to provide leadership and determine the strategic direction for the combined companies.