Wilshire was founded in 1972 by Dennis Tito, who was an early pioneer of applying computer-based technologies to investment applications. Since the early 1970s, the firm developed from a technology firm into an investment management operation. In 1974, the firm created its signature Wilshire 5000 Stock index, which is a widely used index of all stocks actively traded in the United States.

Wilshire established an early reputation^{[citation needed]} by creating the first asset/liability model for pension funds in the 1970s, ten years before actuarial and accounting firms began to adopt this technology. Wilshire was also among the first to produce investment management tools to create index funds, optimize portfolios, construct bond portfolios and measure performance.^{[citation needed]}

In 1981, Wilshire launched its investment consulting business to address the needs of the plan sponsor community providing support for the pensions' investment professionals. Also in the early 1980s, Wilshire began to develop its own investment products. In the late 1980s and early 90s, Wilshire began to expand its investment activities into private market investments creating a series of private equity and venture capital product offerings.

In 2003, Wilshire was targeted by New York State Attorney General Eliot Spitzer in connection to its trading practices as part of a wide ranging 2003 investigation of mutual funds.^[5][6]

In January 2021, Wilshire Associates was bought by CC Capital and Motive Partners.^[7]

In 2021, the Financial Times started publishing 10 Wilshire indexes for individual digital assets and three multi-asset indexes. The multi-asset indices were:

• a Top 5 Digital Assets Index made up of Solana (23%), Ethereum (20%), Cardano (20%), Polkadot (17%) and Bitcoin (17%), giving a sector coverage of 59.14%;
• Top 5 ex Bitcoin Digital Assets Index made up of Solana (22%), Ethereum (20%), Cardano (20%), Polkadot (19%) and Dogecoin (19%), giving a sector coverage of 21.34%;
• and the Bitcoin & Ethereum Digital Asset Index, made up of Bitcoin (52%) and Ethereum (48%).^[8]

Wilshire operates from four main business units.

Wilshire Analytics edit

Wilshire's Analytics Division provides the firm's investment technology products including desktop applications for investment managers. The Wilshire Quantum Series is Wilshire Analytics' family of software for investment accounting, performance measurement, performance attribution, risk management, portfolio optimization, trade order management, and other marketing and client servicing support for multi-currency portfolios.

Wilshire Consulting edit

Wilshire's Consulting division provides investment consulting services including asset allocation, investment structure, manager search and performance measurement to public and corporate pension funds, endowments, foundations, and insurance companies. Wilshire provides consulting services to more than 125 clients with total assets in excess of $1 trillion.

Wilshire Funds Management edit

Among the white label investment products that Wilshire offers are:

• risk-based portfolios;
• target-maturity portfolios;
• multi-manager portfolios;
• global equity and fixed income portfolios; and
• global tactical asset allocation overlay portfolios.^{[citation needed]}

Wilshire Private Markets edit

Wilshire's Private Markets division manages in excess of $6.5 billion across a range of fund of funds vehicles dedicated to private equity and venture capital funds. Wilshire often structures its investment mandates to meet specific objectives.^{[citation needed]}

• Buffett indicator