New Vernon Wealth Management

Yes. New Vernon operates as a registered investment advisor, which legally obligates the firm to a fiduciary standard. This means the firm must always place client interests ahead of its own, a structural differentiator from broker-dealers that operate under a lower suitability standard. The firm reinforces this posture by avoiding proprietary products and maintaining a fee-only compensation model.

The firm uses Charles Schwab & Co. as its primary independent custodian, based on public filings and industry record. This third-party custody arrangement means client securities and funds are held separately from the firm's own balance sheet, a standard protection in the RIA model. Schwab provides trade execution, statements, and online account access directly to the end client.

No. As a registered investment advisor rather than a bank, New Vernon does not directly provide commercial or personal banking products. The firm focuses exclusively on investment management, financial planning, and wealth advisory. Lending needs, when they arise, are typically addressed through client relationships with separate banking institutions.

The firm charges asset-based advisory fees typical of independent RIAs, calculated as a percentage of assets under management. This fee-only structure eliminates commissions on securities transactions and product sales as a source of firm revenue. Because the firm does not sell proprietary funds or insurance products, client advisory costs are transparent and fully disclosed in the firm's Form ADV filing.

Unlike wirehouse advisors, who operate within large investment banks and may face product-sales incentives, New Vernon is an independent firm that does not manufacture or distribute proprietary investment products. The firm's revenue depends entirely on advisory fees, not commissions or asset-management fees from proprietary funds. Independence also allows the firm to select investments from across the entire market, rather than from an approved list shaped by a corporate parent.

The firm targets high-net-worth families concentrated on Chicago's North Shore, based on its Highland Park location and wealth management positioning. Typical services include portfolio management, retirement consolidation, estate planning coordination, and multi-generational wealth education. The firm's boutique scale implies a deliberately limited client roster, consistent with an advisory model built around deep, ongoing relationships rather than volume.

As a Securities and Exchange Commission registered investment advisor, New Vernon's Form ADV Part 2A brochure and any Part 3 relationship summary are public records available through the SEC's Investment Adviser Public Disclosure website. These filings disclose the firm's fee schedule, disciplinary history, assets under management, services offered, and the educational and professional backgrounds of its advisory personnel.