Millennium Investment And Retirement Advisors, LLC

CRD#117868
Investment Advisor Firm

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Learn more about Millennium Investment And Retirement Advisors, LLC

  • Overview
  • By the Numbers
  • Fee Structure
  • Types of Clients
  • Disclosures
  • State Registrations
  • Office Locations
  • Firm Advisors

    • Overview

    Millennium Investment And Retirement Advisors, LLC operates as a financial advisory firm that has its headquarters in Charlotte, North Carolina. It handles $1.6 billion in assets throughout 681 customer accounts, making it one of the largest investment advisory firms in the country by assets under management (AUM). The firm has a small team, including 7 financial advisors. Millennium Investment And Retirement Advisors, LLC does not act as a registered broker-dealer, meaning the advisor is not able to buy and sell securities for its accounts and those of its customers and instead has to go through a broker-dealer firm to do so. Securities are defined as exchangable financial assets like bonds, options and equities.

    Millennium Investment And Retirement Advisors, LLC administers more than half of its accounts in a discretionary manner. Discretionary management means that an investment advisor has the discretion to make buy and sell decisions for the client's account without requiring the customer's permission. It also has 118 non-discretionary accounts totaling $602.6 million in AUM. The firm's average account size is $2.3 million. An average advisor at Millennium Investment And Retirement Advisors, LLC oversees about 97 client accounts.

    The company's main office is located at 3540 Toringdon Way, Charlotte, North Carolina 28277. It is allowed to serve clients across 5 states, including Illinois, Maryland, New Jersey, New York and North Carolina.

    Assets Under Management

    $1.6 billion

    Number of Advisors

    7

    Disclosures

    No

    Office Location

    3540 Toringdon Way
    Charlotte, NC 28277

    Millennium Investment And Retirement Advisors, LLC by the Numbers

    Total Assets Under Management

    $1.6 billion

    National Average: $8.6 billion
    Total Number of Employees

    10

    National Average: 64
    Total Number of Accounts

    681

    National Average: 375,227
    Average Account Size

    $2.3 million

    National Average: $23.0 thousand
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    Fee Structure

    Fees for financial management largely vary depending on which services the firm provides the client. Fees charged by the firm likely include any blend of the following fee structures: asset-based, hourly or fixed. The company does not participate in a wrap fee program, in which the firm offers a service bundle for a single fee.

    Available

    • Offered by 69% of firms

      Percentage of Assets

      Show Explanation

      This fee, which is the most common fee type charged by advisors for portfolio management, is based on the amount of assets you have under management. Also referred to as an asset-based fee, this fee typically ranges from 0.50%-2.00% of AUM annually. You'll typically pay a lower rate the more assets you have under management.

    • Offered by 21% of firms

      Hourly

      Show Explanation

      Like a lawyer, a financial advisor may charge you by the hour. This can be helpful if you are only looking for short-term or one-time advice. Rates typically range from $100-$300 per hour, depending on the complexity and level of services needed.

    • Offered by 32% of firms

      Fixed

      Show Explanation

      Fixed fees are a one-time, lump sum charged for a specific service, like the creation of a financial plan without subsequent implementation. This can be useful if you only need advice for one specific purpose, rather than a long-term advisor. Fixed fees usually range from $1,000 to $3,000.

    Unavailable

    • Find one of the 1% of firms that offer this fee type

      Commissions

      Show Explanation

      Occasionally, advisors earn commissions from selling financial products, such as securities or insurance policies, or making certain referrals or transactions. Advisors who earn commissions may be incentivized to make certain recommendations to clients in order to make a commission. Fee-only advisors do not earn commissions, while fee-based advisors may.

    • Find one of the 26% of firms that offer this fee type

      Performance-based

      Show Explanation

      Advisors only earn performance-based fees if a portfolio outperforms a defined benchmark. This fee may be calculated in a number of ways but most commonly is charged as a percentage of investment profits. Performance-based fees may incentivize advisors to make riskier decisions in order to generate higher returns.

    • Find one of the 0% of firms that offer this fee type

      Subscription

      Show Explanation

      Firms generally charge this fee for educational materials provided, such as a monthly magazine. This can be useful if you want to learn about investing or financial management on your own.

    • Find one of the 10% of firms that offer this fee type

      Other

      Show Explanation

      Firms can sometimes charge customers using non-traditional fee structures. See this firm's Form ADV for more details.

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    Types of Clients

    It works with retail investors, high net worth investors and pension plans. Out of its 681 accounts, Millennium Investment And Retirement Advisors, LLC's largest client type is pension plans, but it also caters to 12 high-net-worth individuals. A high-net-worth individual is defined by the SEC as a person who has at least $750,000 in AUM or a net worth of more than $1.50 million or who is deemed a "qualified purchaser" (a standard met by having at least $5 million in investments). None of its accounts are from outside of the U.S.

    • High-Net-Worth Individuals* - 1.76%
    • Other Individuals - 42%
    • Corporations - 56.24%
    • Charitable Organizations - 0%

    * The U.S. Securities and Exchange Commission (SEC) defines a high-net-worth individual as someone who has at least $750,000 under management.

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    Disclosures

    Millennium Investment And Retirement Advisors, LLC does not have any disclosures.

    Please visit its Form ADV for more details.

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    Financial Advisors at Millennium Investment And Retirement Advisors, LLC

    Michael Edberg
    Bethesda, MD
    Gary Berdoff
    East Brunswick, NJ
    James Holland
    Charlotte, NC
    William Branch
    Charlotte, NC
    Douglas Rongo
    Charlotte, NC
    Joel Regier
    Charlotte, NC
    Ricky Canipe
    Charlotte, NC
    Gregory Blalock
    Charlotte, NC

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