Aaron Wealth Advisors LLC (Chicago)

Name: Aaron Wealth Advisors LLC
Address: 515 N. State St., Chicago, IL, 60654
Telephone: 312-506-5780

Aaron Wealth Advisors LLC is a large advisory firm based in Chicago. It manages $213.12 million of regulatory assets for 134 client accounts. It has been registered with the SEC as an adviser since 2018 and has operated in the jurisdictions of California, Illinois, Indiana, and Texas.

Aaron Wealth Advisors provides portfolio management for individuals and small businesses, portfolio management for businesses and institutional clients, selection of other advisers, and financial consulting. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.

Aaron Wealth Advisors: assets under management

The assets under management (AUM) of Aaron Wealth Advisors LLC is $213.12 million. The firm's AUM has grown by 112% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $123.06 million in discretionary accounts and $90.06 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $1.14 million each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $3.46 million.

Investments

The firm invests in investment and business development companies the most. They account for 37% of the total AUM. The second-largest asset type is exchange traded securities, which make up 24% of the firm’s portfolio. Investments in state and local bonds form 16% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Aaron Wealth Advisors LLC for their services and products based on a percentage of assets under management and fixed fees. Compensation based on assets under management promotes a long-term relationship between a client and the adviser and helps align mutual interests. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Aaron Wealth Advisors serves?

The firm provides services to charitable organizations and high net worth individuals. The largest group of clients of Aaron Wealth Advisors is high net worth individuals with 16 clients and $202.43 million of assets under management. Among the 11 most similar advisory firms, Aaron Wealth Advisors has the 2nd highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $213.12 million for 19 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. None of the firm’s clients are foreign persons or businesses.

Aaron Wealth Advisors doesn't advise any private funds.

Careers at Aaron Wealth Advisors LLC

The company employs 6 people that are either part- or full-time employees. 33 percent of the employees work as investment advisers or researchers. 4 employees are registered as investment adviser representatives with the state securities authorities.

There isn’t anyone with the role of looking for and bringing in new clients on behalf of the firm. The firm doesn’t compensate employees in addition to the salary for bringing in new clients. Employees don’t receive compensation from other entities for client referrals.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Gary Evan Hirschberg	Managing member, chief executive officer	1 Jul 2018	75% - 100%	4985966
Konstantine William Andrakakos	Chief compliance officer	1 Nov 2018	Other	5688955

Based in Chicago

The principal office where Aaron Wealth Advisors LLC performs its advisory services is located at 515 N. State St., Chicago, IL 60654, which is also the mailing address of the firm. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 312-506-5780 or by fax 312-506-5772. The normal business hours are 9:00 a.m. - 5:00 p.m. on Monday - Friday. You can find more information about the New York firm at aaronwealth.com and its LinkedIn profile.