Miller Investment Management, Lp

CRD#108380
Investment Advisor Firm

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Overview

Miller Investment Management, Lp operates as a financial advisory company headquartered in Conshohocken, Pennsylvania. Miller Investment Management, Lp administers $2.4 billion in total assets over 242 customer accounts, placing it among the largest financial advisory firms in the country by assets under management (AUM). The firm has a small team of 26 employees, of which 14 are financial advisors. Miller Investment Management, Lp does not act as a registered broker-dealer, meaning the company is not able to buy and sell securities for its accounts and those of its clients and instead must go through a broker-dealer company to do so. Securities are defined as tradable fiscal investments such as bonds, equities and options.

Miller Investment Management, Lp oversees most of its client assets in a discretionary manner. Discretionary management is a structure in which a portfolio manager makes transaction decisions for the client's account without needing the client's authorization. Miller Investment Management, Lp also administers 49 non-discretionary accounts with a total of $1.0 billion in AUM. The firm oversees an average of $10.1 million in assets for each client account. The average financial advisor at Miller Investment Management, Lp administers about 17 client accounts, making it one of the more personalized financial advisor firms in the country.

The firm's headquarters is at One Tower Bridge, Ste 1500, Conshohocken, Pennsylvania 19428-2874. The firm is registered to serve investors throughout a number of states, including California, Delaware, Florida, Massachusetts, New York, Ohio, Pennsylvania, South Carolina and Texas.

Assets Under Management

$2.4 billion

Number of Advisors

14

Disclosures

No

Office Location

One Tower Bridge, Ste 1500
Conshohocken, PA 19428-2874

Miller Investment Management, Lp by the Numbers

Total Assets Under Management

$2.4 billion

National Average: $3.3 billion
Total Number of Employees

26

National Average: 31
Total Number of Accounts

242

National Average: 1,935
Average Account Size

$10.1 million

National Average: $1.7 million

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Products and Services

Miller Investment Management, Lp provides a number of services, including financial planning services, portfolio management for individuals and small businesses, portfolio management for pooled investment vehicles, portfolio management for institutional clients and selection of other advisers. In the prior financial year, the firm provided 11-25 of its clients with financial planning services. Miller Investment Management, Lp does not sell products or offer services apart from investment advisory services to its investment advisory customers.

Core Advisor Services

  • Offered by 44% of firms

    Financial Planning Services

    This is the process of planning for your financial future, including for events such as retirement, your child's college education or estate succession.

  • Offered by 61% of firms

    Portfolio Management

    This is the selection and management of an investment mix and portfolio strategy for individuals and small businesses.

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    Market Timing Services

    This is the practice of attempting to make short-term profits on investments by buying low and selling high.

Other Services

  • Offered by 23% of firms

    Selection of Other Advisors

    This is the firm's assistance with choosing other advisors to work with who may have different specialties.

  • Find a firm that offers this service

    Publication of Periodicals

    This is the publication of various financial education materials.

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    Educational Seminars/Workshops

    This is the hosting of seminars or workshops to educate investors on financial concepts.

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Fee Structure

Fees charged by financial advisors vary depending on which services the firm provides the client. However, fee types charged by the firm may include the following fee types: asset-based, fixed or performance-based. Wrap fee programs, or the practice of bundling services for a single fee, are not offered by the company.

Available

  • Offered by 72% 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 17% of firms

    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.

  • Offered by 39% 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 35% of firms that offer this fee type

    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.

  • Find one of the 2% 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 1% 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 12% 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

Miller Investment Management, Lp caters to retail investors, high net worth investors, pooled investment vehicles and charitable organizations. Out of its 242 accounts, Miller Investment Management, Lp's largest client by number of accounts is high net worth investors, though it also serves 130 high-net-worth individuals. A high-net-worth individual is defined by the SEC as an investor who has at least $750,000 under management 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). Just 1% of the firm's accounts reside abroad.

  • High-Net-Worth Individuals* - 71.04%
  • Other Individuals - 13.11%
  • Corporations - 11.48%
  • Charitable Organizations - 4.37%

* 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

Miller Investment Management, Lp does not have any disclosures.

Please visit its Form ADV for more details.

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Financial Advisors at Miller Investment Management, Lp

Jonas Theiler
Conshohocken, PA
Thomas Wong
New York, NY
Timothy Letter
Conshohocken, PA
Christopher Duke
Conshohocken, PA
John Miller
Conshohocken, PA
Clayton Parrett
Conshohocken, PA
Henry Miller
Conshohocken, PA
Elwyn Evans
Conshohocken, PA
Henry Miller
Conshohocken, PA

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This content was compiled from the SEC and FINRA