Millennium Advisory Services, Inc. (Glen Allen)

Name: Millennium Advisory Services, Inc.
Address: 5340 Twin Hickory Road, Glen Allen, VA, 23059
Telephone: 804-346-1040

Millennium Advisory Services, Inc. is a large advisory firm based in Glen Allen. It manages $237.75 million of regulatory assets for 1,462 client accounts. It has been registered with the SEC as an adviser since 2004 and has operated in the jurisdictions of Alabama, Florida, Georgia, and 10 other states.

Millennium Advisory Services provides financial planning services, portfolio management for individuals and small businesses, and educational seminars and workshops. It prepares financial plans for approximately 1,000 clients. On top of advisory services, the firm doesn't engage in other business activities.

Millennium Advisory Services: assets under management

The assets under management (AUM) of Millennium Advisory Services, Inc. is $237.75 million, all of which is managed in discretionary accounts. The firm's AUM has grown by 755% since the beginning of its operation, and $1.04 million of the total AUM is attributable to clients outside of the United States.

The firm manages $237.75 million in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $162.62 thousand each.

Millennium Advisory Services has custody of $31.93 million in cash and securities for 157 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in investment and business development companies the most. They account for 92% of the total AUM. The second-largest asset type is exchange traded securities, which make up 7% of the firm’s portfolio. Investments in cash and cash equivalents form 1% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Millennium Advisory Services, Inc. for their services and products based on a percentage of assets under management, hourly charges, and fixed fees. Compensation based on assets under management promotes a long-term relationship between a client and the adviser and helps align mutual interests. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Millennium Advisory Services serves?

The firm provides services to individuals and high net worth individuals. The largest group of clients of Millennium Advisory Services is individuals with 1,425 clients and $202.54 million of assets under management. Among the 11 most similar advisory firms, Millennium Advisory Services has the highest percentage of individuals out of all clients.

The amount of regulatory assets under management is $237.75 million for 1,462 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. 1% of the firm’s clients are foreign persons or businesses.

Millennium Advisory Services doesn't advise any private funds.

Careers at Millennium Advisory Services, Inc.

The company employs 26 people that are either part- or full-time employees. 50 percent of the employees work as investment advisers or researchers. 20 employees are registered as investment adviser representatives with the state securities authorities.

There isn’t anyone with the role of looking for and bringing in new clients on behalf of the firm. The firm compensates employees in addition to the salary for bringing in new clients. Employees don’t receive compensation from other entities for client referrals.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Paul Bernard Hunt	President / chief compliance officer	1 Jan 2001	50% - 75%	1828106
Steven Theron Anderson	Vice president	1 Jan 2001	50% - 75%	2486496
Elizabeth Mc Grath Hunt	Chief compliance officer	1 Mar 2004	Other	4503370

Based in Glen Allen

The principal office where Millennium Advisory Services, Inc. performs its advisory services is located at 5340 Twin Hickory Road, Glen Allen, VA 23059, which is also the mailing address of the firm. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 804-346-1040 or by fax 804-346-1044. The normal business hours are 8:30am - 5:00pm on Monday - Friday. You can find more information about the New York firm at mas-edu.com and its LinkedIn profile.