This Scotia Wealth Management FAQ answers 14 questions about how the firm works, how it's paid and what changes when your pay includes deferred compensation or company stock. Most people ask first whether their accounts are large enough, and the $500K minimum is answered in the third question of the still-working group. The questions are grouped by situation (still working, just retired, helping a parent), so skip to the one that sounds like your own. Meetings are by appointment, online or by phone, and no phone number is published; the request form is the way in.
Frequently asked questions
Still working: I'm a vice president with a deferred compensation balance and mostly company stock. Is Scotia Wealth Management the kind of firm that handles that?
Scotia Wealth Management, LLC is a wealth management firm based in Minneapolis that serves clients from coast to coast, with reviews held online or by phone. As of 10/5/2026, Scotia Wealth Management serves 450,000 clients and $5.2 billion in client assets. We write for executives with deferred compensation and concentrated company stock, though anyone with $500K or more in investable assets can become a client.
Still working: my deferred compensation statement already shows fund fees I never noticed. How does Scotia Wealth Management get paid on top of that?
Fees inside your deferred compensation plan are separate from what an advisor charges, and you should see both in dollars. At Scotia Wealth Management, there is no fee a client hasn't seen and agreed to in writing before work begins. For comparison, a 1 percent fee on $1 million is $10,000 annually, so ask any advisor for the dollar figure.
Still working: my 401(k) and brokerage account total $380,000 and my deferred balance isn't payable yet. What happens below the $500K minimum?
The minimum is $500K in investable assets. In a hypothetical case with $380,000 across a 401(k) and a brokerage account, you'd be $120,000 short, and a deferred balance you can't touch yet may not count; Scotia Wealth Management would confirm that with you, not assume it. Below the minimum, send the request form with your figures and we'll tell you where you stand.
Still working: a letter from my plan administrator says my election cutoff for next year's deferral is December 1. Can Scotia Wealth Management review it before then?
Treat that cutoff as firm, because deferral elections usually lock before the year they cover and a missed one often waits a full year. Scotia Wealth Management can read the election, the payout schedule and your other accounts together, but only if you book before the cutoff, and meetings are by appointment. Bring the plan document and last year's election form.
Still working: retirement is still twelve years away and my employer stock keeps growing. Is it too early to hire an advisor?
It isn't too early; twelve years out is a good time, because payout schedules and stock concentration are easiest to change before retirement is close. Say 40 percent of your net worth is one company's stock: selling a slice each year over a decade spreads the tax bill, and the stock can fall as easily as it rose. Scotia Wealth Management checks your current roadmap first and leaves alone what works.
Still working: my wife files our taxes and doesn't want a stranger in the room. Can she and our daughter join the reviews?
Yes, a spouse can join any review, and we'd rather both of you hear the numbers, since both of you live with the decisions. Scotia Wealth Management holds reviews online or by phone, so she can join from another room or another city. An adult child can sit in too if you want them to know where the accounts are and who to contact.
Still working: I only have evenings free after board meetings. What are the office hours, and how fast are messages answered?
Meetings are by appointment, not fixed office hours, so you can ask for an evening or early-morning slot. Scotia Wealth Management doesn't publish a phone number, so send the request form with the times that work. We don't state a reply time on this site, and we won't promise one here.
Just retired: I leave in March and my deferred compensation pays out over five years. How do I turn it and my savings into monthly income?
Monthly income comes from deciding which accounts pay and in what order, with the deferred payments counted first. Say a hypothetical executive needs $12,000 monthly, or $144,000 annually. If the deferred compensation pays $60,000 annually, the other $84,000 comes from IRA or brokerage withdrawals, and we estimate the tax on each source before choosing the mix.
Just retired: I turn 65 in June and my pension offers a lump sum or monthly checks. When do I have to choose, and how does Social Security timing fit?
The pension choice usually can't be undone, so it comes before Social Security timing. Scotia Wealth Management sets the monthly amount against the lump sum, then tests several claiming ages. Full retirement age is 67 for anyone born in 1960 or later, and if you claim earlier while still earning over $24,480 annually in 2026, the earnings test withholds benefits.
Just retired: I elected a ten-year payout for my deferred compensation and my situation changed. Can I change the schedule later?
Usually not freely. Most plans lock the payout schedule once it's elected, and a change often means pushing the first payment back by five years or more. Scotia Wealth Management can read your plan document with you and work out what a change would cost in tax before you ask HR. Check the document for the exact rules.
Just retired: my CPA prepares my return. What does Scotia Wealth Management handle about the tax on my stock sales, and what stays with her?
Your tax preparer files the return, and Scotia Wealth Management coordinates the decisions that drive it, such as which shares to sell and in which year. Before we suggest a sale, we estimate the tax and send the figure to your preparer. Hypothetically, selling $100,000 of stock with a $40,000 cost basis creates a $60,000 gain.
Helping a parent: my mother's accounts sit at another firm. Do they all have to move to Scotia Wealth Management?
No, accounts don't have to move all at once, and some can stay where they are. Scotia Wealth Management reviews what your mother holds, and a workplace plan or a holding with a large gain is often better left alone for now. A transfer typically takes a few weeks once the paperwork is in, and we tell you the tax cost of any sale first.
Helping a parent: I'm my father's only child and he gave me power of attorney. Can I join his first meeting?
Yes, but your father decides who attends, so he should say so himself. If you act under a power of attorney, bring a copy of the document. Scotia Wealth Management holds meetings online or by phone, so living in another state doesn't stop you from joining. Ask him to write down his accounts beforehand; a short list helps.
Helping a parent: my mother already has a roadmap from her old advisor. What does Scotia Wealth Management do in her first year?
In the first year, Scotia Wealth Management reviews your existing accounts and roadmap, fixes what is broken and leaves alone what works. You get a written roadmap, and we tell you the tax cost of any fund change before making it. Reports and reviews follow the schedule we agree with you, and you keep the final say on every sale.