I was going to disagree with Dr. ZoiderWoop. And, say that axial compression in your member will transfer through your beam beam to the end plate in direct bearing and to the column web in direct bearing.
But, then I started to think about what is more rigid, the weld or the direct bearing and I wasn't sure. If the fit up is perfect, it would be direct bearing. If not, then the weld would indeed take the load. So, after I thought about that for awhile, I would say that I agree with Dr. Z that using the SRSS of shear and axial for the design of the weld is probably best. It might be a little conservative, but it's probably best. And, I've definitely seen that procedure used for shear connections before.
I'm not so rigid in my belief that I'd say you were flat out wrong for assuming direct bearing for the axial. Instead, I'd say that my engineering judgment doesn't quite agree and prefers the safer, more conservative SRSS method. If it were axial tension then 100% it would be transferred by the weld and the SRSS method would be required. However, with compression, I think a legitimate argument could be made for bearing.