Aon Securities LLC (referred to herein as AS, Aon Securities or the Firm), a Delaware Limited Liability Company,
is an SEC-registered investment adviser and broker-dealer with its principal place of business located in
Chicago, Illinois. AS is 95% owned by Aon Group, Inc., and 5% owned by AS Holdings, Inc., a subsidiary of Aon
Group, Inc. Aon Group, Inc. is an indirect subsidiary of Aon plc. Aon plc (Aon) is a leading global professional
services firm providing a broad range of risk, retirement and health solutions, which are provided through various
direct and indirect subsidiaries.
Aon Securities Inc., the predecessor firm to Aon Securities LLC, commenced operations and registered as a
broker dealer in 1969, and became dually registered as an investment adviser in 2015 for the purpose of writing
fairness opinions. A fairness opinion is a report prepared by qualified analysts or advisers that evaluates a
business transaction, such as a merger or acquisition, and states whether or not the proposed transaction is fair
from a financial point of view.
This Form ADV Part 2A brochure pertains to AS’s business as a Registered Investment Adviser. AS’s sole
investment adviser business is providing fairness opinion services to institutional clients (each, a “Client”). AS
personnel involved in AS’s business as a Registered Investment Adviser are referred to herein as “Supervised
Persons.”
Aon Securities, in its role as a broker-dealer/investment bank, provides corporate advisory services to clients.
As part of a larger
engagement or as a stand-alone service, Aon Securities, as a Registered Investment Adviser,
may undertake a study and render its opinion as to the fairness, from a financial point of view, to a Client or to
the Stockholders of a Client, as the case may be, of the consideration to be paid in a particular transaction (or, in
the case of a transaction that involves an exchange of securities of the Client or its subsidiaries, the fairness of
the exchange ratio) (the “Opinion”). The nature and scope of AS’s investigation, as well as the scope, form and
substance of the Opinion, shall be such as AS considers appropriate in its sole judgment.
Although Aon Securities will provide an Opinion regarding the fairness, from a financial point of view, of the
transaction to the Client, Aon Securities will operate on a reasonable efforts basis only and does not guarantee
or make any representations regarding the structure, value or success of any transaction, or portion thereof, in
connection with which it provides an Opinion. AS’s Client shall have the full and final responsibility for deciding
whether to enter into any transaction and determining the ultimate structure and value of the transaction, and
Aon Securities shall be not responsible for any party’s decisions, acts or omissions in connection therewith.
In its business as a Registered Investment Adviser, AS does not manage the assets of any client, make
investment recommendations to clients or participate in wrap fee programs. It has $0 client assets under
management.