Brown Wealth Management provides financial planning, portfolio management for individuals and small businesses, pension consulting, business succession planning, education planning, estate planning, insurance, philanthropic planning, tax planning, and tax preparation. Financial planning was provided to 101–250 clients last fiscal year.
Brown Wealth Management reports 450 clients. They include 281 individual clients, 137 high-net-worth individuals, and 15 pension and profit-sharing plans. Of its assets, 89.1% ($473M across 1,205 accounts) are managed with discretion; $57.8M across 15 accounts are not. It advised 2 clients without assets under management last fiscal year.
| Client type | Clients | Assets |
|---|---|---|
| Individuals (other than HNW) | 62% | 17% |
| High-net-worth individuals | 30% | 67% |
| Pension and profit-sharing plans | 3% | 11% |
| Charitable organizations | 3% | 4% |
| Corporations and other businesses | <1% | <1% |
Client breakdown and activity details
| Client type | Clients | Regulatory AUM | AUM share | Avg. per client |
|---|---|---|---|---|
| Individuals (other than HNW) | 281 | $87.8M | 16.5% | $312K |
| High-net-worth individuals | 137 | $358M | 67.5% | $2.61M |
| Pension and profit-sharing plans | 15 | $57.8M | 10.9% | $3.85M |
| Charitable organizations | 15 | $23.2M | 4.4% | $1.55M |
| Corporations and other businesses | Fewer than 5 | $4M | 0.8% | $2M |
| Total | 450 | $531M | 100% | — |
- Clients
- 281
- Regulatory AUM
- $87.8M
- AUM share
- 16.5%
- Avg. per client
- $312K
- Clients
- 137
- Regulatory AUM
- $358M
- AUM share
- 67.5%
- Avg. per client
- $2.61M
- Clients
- 15
- Regulatory AUM
- $57.8M
- AUM share
- 10.9%
- Avg. per client
- $3.85M
- Clients
- 15
- Regulatory AUM
- $23.2M
- AUM share
- 4.4%
- Avg. per client
- $1.55M
- Clients
- Fewer than 5
- Regulatory AUM
- $4M
- AUM share
- 0.8%
- Avg. per client
- $2M
Total
- Clients
- 450
- Regulatory AUM
- $531M
- AUM share
- 100%
- Avg. per client
- —
- Clients outside the U.S.
- 0%
- Clients advised without assets under management last fiscal year
- 2
- Private funds advised
- 0
- Financial planning clients last fiscal year
- 101–250
Brown Wealth Management charges 0.75%–1.25% a year for its Portfolio Management & Sub-Adviser Fees. Each asset band is charged at its own rate. The fee is billed in arrears and is negotiable. The brochure also prices 2 other services, listed under fee details.
| Asset band | Annual rate |
|---|---|
| $0–$500K | 1.25% |
| $500K–$2M | 1.00% |
| $2M–$5M | 0.85% |
| $5M and above | 0.75% |
Fee details and sources
Other fees
- Financial Planning
- Stand-alone financial planning is a negotiated fixed fee of $300 to $2,500 per project; clients with at least $500,000 under management receive planning at no added cost.
- Tax Preparation
- Tax preparation is a fixed fee of $250 to $4,000, depending on complexity, billed directly to the client.
Scott Brown owns 75% or more of Brown Wealth Management. It has 12 employees, 6 of them in advisory roles.
Leadership
- Gregory AagaardOwner/Member
- Scott BrownManaging Partner
- Melissa ImbrognoPartner & CCO
- William WestOwner/Member
Investment adviser representatives
6 representatives listed in the SEC register as of 9 October 2026.
Staff
- 12 employees
- 6 in advisory functions
- 5 state-registered reps
- 2 broker-dealer reps
- 3 insurance agents
- Owns 75% or more of Brown Wealth Management, LLC
Scott Brown
Control person · since November 2014
Brown Wealth Management’s regulatory assets grew 2.2× from $242M (July 2023) to $531M (March 2026); clients rose from 298 to 450 and employees from 8 to 12.
Figures from each annual filing
| Filed | Regulatory AUM | Clients | Employees | Offices |
|---|---|---|---|---|
| March 2026 | $531M | 450 | 12 | 1 |
| May 2025 | $409M | 414 | 8 | 1 |
| March 2024 | $326M | 383 | 8 | 1 |
| July 2023 | $242M | 298 | 8 | 1 |
Besides its headquarters, Brown Wealth Management has 0 offices, with 1 listed address in Illinois.
Illinois · 1 listed address
- 1700 Park Street, Suite 106, NapervilleHQ
Contact and registration details
- Legal name
- Brown Wealth Management, LLC
- Headquarters
- 1700 Park Street, Suite 106, Naperville, IL 60563
- Website
- raiwealth.com
- Phone
- 630-733-8434
- @rai-wealth
- SEC file
- 801-127594
- Structure
- Illinois LLC
- Fiscal year end
- December
Brown Wealth Management uses Charles Schwab ($471M) as custodian for its separately managed accounts. Brown Wealth Management has custody of $153M in client assets for 174 clients.
- Charles SchwabCharles Schwab & Co., Inc. · San Francisco, CA · $471M100%
At year end, Brown Wealth Management’s separately managed accounts were mostly in funds (79%) and stocks (10%). Its reported 13F holdings for the quarter ended 30 June 2026 total $447M across 134 positions; the largest are iShares TR (17.6%), Vanguard Tax-managed Fds (7.1%) and Vanguard BD Index Fds (6.7%).
What the accounts hold
- Stocks10%
- Funds79%
- Bonds2%
- U.S. government and agency bonds1%
- State and local bonds1%
- Cash9%
Reported 13F holdings
- $447M
- Reported 13F value
- 134
- Positions
- 57.5%
- In the 10 largest
- +14.9%
- Value vs. prior quarter
- iShares TR · Core S&P500 ETF17.6%
- Vanguard Tax-managed Fds · Van FTSE Dev Mkt7.1%
- Vanguard BD Index Fds · Intermed Term6.7%
- Vanguard Index Fds · Value ETF5.1%
- Vanguard Index Fds · Growth ETF4.9%
- iShares TR · National Mun ETF4.7%
- iShares TR · Shrt Nat Mun ETF4.0%
- Vanguard Intl Equity Index F · FTSE Emr Mkt ETF2.6%
- iShares TR · Core MSCI Intl2.6%
- Innovator ETFS Trust · Power Buffer Set2.3%
Together, the ten largest are 57.5% of reported value.
How many clients does Brown Wealth Management have?
Brown Wealth Management has 450 clients and manages $531 million for them, as of March 2026. They include 281 individual clients, 137 high-net-worth individuals, and 15 pension and profit-sharing plans.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 11 March 2026
What services does Brown Wealth Management offer?
Brown Wealth Management provides financial planning, portfolio management for individuals and small businesses, pension consulting, business succession planning, education planning, estate planning, insurance, philanthropic planning, tax planning, and tax preparation.
Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file; Part 2A brochure, Item 4
How much does Brown Wealth Management charge?
Brown Wealth Management charges 0.75%–1.25% a year for its Portfolio Management & Sub-Adviser Fees. Each asset band is charged at its own rate. The fee is billed in arrears and is negotiable.
Source: ADV 2A, filed 11 March 2026
Which custodians does Brown Wealth Management use?
Brown Wealth Management’s separately managed account assets are held at Charles Schwab & Co., Inc. (San Francisco, CA), with $471M. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 11 March 2026
How many financial advisors does Brown Wealth Management have?
Brown Wealth Management has 5 investment adviser representatives registered with state securities authorities, out of 12 employees, and 6 perform investment advisory functions. 2 employees are registered representatives of a broker-dealer and 3 employees are licensed insurance agents.
Source: Form ADV Part 1A, Items 5.A and 5.B, from the SEC's 2 October 2026 data file
What does Brown Wealth Management invest in?
At the end of its last fiscal year, Brown Wealth Management’s separately managed accounts held 79% registered funds (mutual funds, ETFs, BDCs), 10% exchange-traded equities, 9% cash and equivalents, 1% U.S. government and agency bonds and 1% state and local bonds.
Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file
Who owns Brown Wealth Management?
Brown Wealth Management’s direct owner is Scott Brown (75% or more).
Source: Form ADV Part 1A, Schedules A and B, filed 11 March 2026
How does Brown Wealth Management get paid?
Brown Wealth Management is paid through a percentage of assets under management, fixed fees and commissions. Its Form ADV lists no performance-based fees among how it is paid.
Source: Form ADV Part 1A, Item 5.E, from the SEC's 2 October 2026 data file
Is Brown Wealth Management registered with the SEC?
Yes, Brown Wealth Management has been registered with the SEC as an investment adviser since 5 April 2023. Its CRD number is 324695 and its SEC file number is 801-127594.
Source: Form ADV Part 1A, Item 1, filed 11 March 2026; IAPD firm record
How do I contact Brown Wealth Management?
Brown Wealth Management’s main office is at 1700 Park Street, Suite 106, Naperville, IL 60563. Its phone number is 630-733-8434. Its website is raiwealth.com.