Aberdeen Wealth Management, LLC is a financial advisor firm in Chicago, Illinois. The bulk of the firm's client base consists of high-net-worth individuals, but it does work with some non-high-net-worth individuals as well.
This fee-only firm specializes in investment management. However, the firm has a plethora of other offerings too, including specific investment advice, investment consultations and financial planning services.
Aberdeen Wealth Management Background
Aberdeen Wealth Management opened for business in 2000. It was founded by Roberta B. Ferguson and Kevin P. Scullion. The duo act as Aberdeen's managing members, and they still serve as the sole owners of the firm. Ferguson and Scullion have around 80 years of combined experience working in financial services.
Aberdeen Wealth Management Client Types and Minimum Account Sizes
Aberdeen Wealth Management works with both individuals and high-net-worth individuals.
Aberdeen Wealth Management typically imposes a minimum account requirement of $500,000 for new clients. However, the firm may waive this minimum from time to time at its discretion.
Services Offered by Aberdeen Wealth Management
Aberdeen Wealth Management provides investment management services along with investment consultations. Additionally, the firm provides financial advice on a range of matters including:
- General financial planning
- Tax planning
- Trust management
- Estate planning
- Retirement planning
- Insurance review
- Cash flow management
- Debt management
- Company benefits counseling
- Education fund planning
Aberdeen Wealth Management Investment Philosophy
Aberdeen Wealth Management's primary investment strategy revolves around a combination of strategic asset allocation of stocks and bonds with a suite of passively-managed index funds and actively-managed mutual funds. To ensure your portfolio isn't overly dependent on a specific sector or asset type, the firm will diversify your assets across global and domestic investment markets.
When conducting investment research, the firm relies on financial newspapers, investment trade publications, company press releases and research prepared by third parties such as Morningstar, Charles Schwab, Barron’s and TD Ameritrade. It's through these methods that Aberdeen will determine where your money is best invested.
Fees Under Aberdeen Wealth Management
For its investment advisory services, Aberdeen Wealth Management charges a fee as a percentage of each client’s assets under management. These charges are billed quarterly, in advance. The specific percentage you'll pay will adhere to the following fee schedule:
| Aberdeen Wealth Management Fees | |
| Assets Under Management | Annual Fee |
| $0 - $3,000,000 | 1.00% |
| $3,000,000.01 - $5,000,000 | 0.75% |
| Above $5,000,000 | Negotiable |
The minimum annual fee is $5,000.
Fees for financial planning services are negotiable and dependent on factors specific to each client. If follow-up services or services of a limited scope are required, those are typically provided at a fee of $350 per hour.
What to Watch Out For
According to its Form ADV, Aberdeen Wealth Management has no legal or regulatory disclosures.
Schwab Advisor Services provides a number of technology, compliance and other services to Aberdeen Wealth Management to help it manage its client base. To maintain the availability of these services, Aberdeen must keep at least $10 million worth of client assets in custodian accounts at Schwab. A conflict of interest arises from this, as the firm could potentially recommend Schwab's custodian services regardless of whether it believes it's beneficial for clients. Despite this conflict of interest, the firm is a fiduciary, and therefore is legally bound to act in your best interest at all times.
Neither of Aberdeen’s advisors are licensed to sell insurance products or act as broker-dealers. This means you don't have to worry about the conflicts of interests stemming from the sale of such securities. Further, the firm doesn’t have any official relationship with a specific broker, which also eliminates potential conflicts of interest that such a relationship often entails.
Opening an Account With Aberdeen Wealth Management
To start the process of opening an account with Aberdeen Wealth Management, you can get in touch in a number of ways. You can call the office at (312) 456-3315. You can also email Kevin P. Scullion, one of the partners, at kpscullion@sbcglobal.net. If you prefer to do things in-person, you can also stop by the firm’s office on LaSalle Street in Chicago.
All information is accurate as of the writing of this article.
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