New Vernon Wealth Management provides portfolio management for individuals and small businesses and retirement plan services.
New Vernon Wealth Management reports 187 clients. They include 97 high-net-worth individuals and 90 individual clients. Of its assets, 100.0% ($781M across 443 accounts) are managed with discretion. Of its clients, 19% are outside the U.S.
| Client type | Clients | Assets |
|---|---|---|
| Individuals (other than HNW) | 48% | 4% |
| High-net-worth individuals | 52% | 96% |
Client breakdown and activity details
| Client type | Clients | Regulatory AUM | AUM share | Avg. per client |
|---|---|---|---|---|
| Individuals (other than HNW) | 90 | $33.9M | 4.3% | $377K |
| High-net-worth individuals | 97 | $747M | 95.7% | $7.7M |
| Total | 187 | $781M | 100% | $4.18M |
- Clients
- 90
- Regulatory AUM
- $33.9M
- AUM share
- 4.3%
- Avg. per client
- $377K
- Clients
- 97
- Regulatory AUM
- $747M
- AUM share
- 95.7%
- Avg. per client
- $7.7M
Total
- Clients
- 187
- Regulatory AUM
- $781M
- AUM share
- 100%
- Avg. per client
- $4.18M
- Clients outside the U.S.
- 19%
- Clients advised without assets under management last fiscal year
- 0
- Private funds advised
- 0
New Vernon Wealth Management charges 0.85%–1.50% a year for its Advisory Fees. The fee is billed in advance and is negotiable.
Fee details and sources
Mansoor Zakaria owns 25% to 50% of New Vernon Wealth Management. The leadership team of New Vernon Wealth Management includes Chief Investment Officer Steven Shapiro and Chief Financial Officer Gary Just. It has 8 employees, 5 of them in advisory roles.
Leadership
- Gary JustChief Financial Officer, Chief Compliance Officer
- Steven ShapiroMember, Manager, Chief Investment Officer, Trustee Steven Shapiro Gift Trust
Arshad ZakariaMember, Manager, Chairman of Board- Daniel ShapiroMember, Manager, Trustee of Daniel Shapiro Gift Trust
- Mansoor ZakariaMember, Manager
Investment adviser representatives
1 representatives listed in the SEC register as of 9 October 2026.
Staff
- 8 employees
- 5 in advisory functions
- 1 state-registered rep
- 6 broker-dealer reps
- 3 soliciting firms
- Owns 25% to 50% of New Vernon Wealth Management LLC
Mansoor Zakaria
Control person · since January 2013
- Owns 25% to 50% of New Vernon Wealth Management LLC
NV Capital Holdings II, LLC
Control person · since January 2013
- Owns 25% to 50% of NV Capital Holdings II, LLC
Arshad Zakaria
Control person · since January 2013
- Owns 10% to 25% of New Vernon Wealth Management LLC
Daniel Shapiro
Control person · since January 2013
- Owns 10% to 25% of New Vernon Wealth Management LLC
Steven Shapiro
Control person · since January 2013
- Owns 10% to 25% of New Vernon Wealth Management LLC
Daniel Shapiro Gift Trust
Control person · since January 2013
- Owns 10% to 25% of New Vernon Wealth Management LLC
Steven Shapiro Gift Trust
Control person · since January 2013
New Vernon Wealth Management’s regulatory assets grew 1.8× from $439M (March 2021) to $781M (March 2026); clients rose from 175 to 187 and employees fell from 11 to 8.
Figures from each annual filing
| Filed | Regulatory AUM | Clients | Employees | Offices |
|---|---|---|---|---|
| March 2026 | $781M | 187 | 8 | 1 |
| March 2025 | $628M | 181 | 8 | 1 |
| March 2024 | $552M | 172 | 8 | 1 |
| March 2023 | $431M | 172 | 10 | 1 |
| March 2022 | $489M | 178 | 11 | 1 |
| March 2021 | $439M | 175 | 11 | 1 |
Besides its headquarters, New Vernon Wealth Management has 0 offices, with 1 listed address in Illinois.
Illinois · 1 listed address
- 799 Central Ave, Suite 350, Highland ParkHQ
Contact and registration details
- Legal name
- New Vernon Wealth Management LLC
- Headquarters
- 799 Central Ave, Suite 350, Highland Park, IL 60035
- Website
- newvernonwealth.com
- Phone
- 847-926-5700
- SEC file
- 801-77619
- Founded
- 2003
- Structure
- Delaware LLC
- Fiscal year end
- December
New Vernon Wealth Management uses Pershing ($781M) as custodian for its separately managed accounts. New Vernon Wealth Management does not have custody of client assets.
- PershingPershing LLC · Jersey City, NJ · $781M100%
At year end, New Vernon Wealth Management’s separately managed accounts were mostly in stocks (81%) and cash (13%).
What the accounts hold
- Stocks81%
- Bonds6%
- Investment grade corporate bonds5%
- U.S. government and agency bonds1%
- Cash13%
How many clients does New Vernon Wealth Management have?
New Vernon Wealth Management has 187 clients and manages $781 million for them, as of March 2026. They include 97 high-net-worth individuals and 90 individual clients.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 31 March 2026
What services does New Vernon Wealth Management offer?
New Vernon Wealth Management provides portfolio management for individuals and small businesses and retirement plan services.
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 New Vernon Wealth Management charge?
New Vernon Wealth Management charges 0.85%–1.50% a year for its Advisory Fees. The fee is billed in advance and is negotiable.
Which custodians does New Vernon Wealth Management use?
New Vernon Wealth Management’s separately managed account assets are held at Pershing LLC (Jersey City, NJ), with $781M. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 31 March 2026
How many financial advisors does New Vernon Wealth Management have?
New Vernon Wealth Management has 1 investment adviser representative registered with state securities authorities, out of 8 employees, and 5 perform investment advisory functions. 6 employees are registered representatives of a broker-dealer and 0 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 New Vernon Wealth Management invest in?
At the end of its last fiscal year, New Vernon Wealth Management’s separately managed accounts held 81% exchange-traded equities, 13% cash and equivalents, 5% investment grade corporate bonds and 1% U.S. government and agency bonds.
Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file
Who owns New Vernon Wealth Management?
New Vernon Wealth Management is owned through a holding company by Arshad Zakaria. Its direct owners are Daniel Shapiro, Steven Shapiro, Daniel Shapiro Gift Trust, Steven Shapiro Gift Trust, Mansoor Zakaria and NV Capital Holdings II, LLC, each holding 50% or less.
Source: Form ADV Part 1A, Schedules A and B, filed 31 March 2026
How does New Vernon Wealth Management get paid?
New Vernon Wealth Management is paid through a percentage of assets under management. Its Form ADV lists no commissions or 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
How do I contact New Vernon Wealth Management?
New Vernon Wealth Management’s main office is at 799 Central Ave, Suite 350, Highland Park, IL 60035. Its phone number is 847-926-5700. Its website is newvernonwealth.com.