Mills Financial Services LLC
Updated today
Data sourced from SEC public records (and other sources when available). Refreshed weekly • Updated today.
Client assets under management
$4,500,000
Clients
56
0% high-net worth
Advisors
1
of 1 employees
Firm type
Independent
1 advisor
Fewer clients per advisor generally means more personalized, proactive service. Higher ratios may reflect streamlined models or lower minimums.
Clients per advisor
56
HighAverage account size
$80,357
About
The firm provides financial planning and portfolio management for individuals (including high net worth individuals) and small businesses, covering topics such as retirement and education planning, tax and estate considerations, cash-flow analysis, and investment consultation. It also offers periodic educational workshops and provides targeted services such as divorce planning and practice-management support for small business owners.
Investment advice is delivered on a nondiscretionary basis and draws on fundamental analysis and Modern Portfolio Theory, with portfolios constructed from mutual funds, ETFs, individual equities and fixed-income instruments and managed using a mix of active and passive strategies. The firm conducts periodic (generally annual or more frequent) reviews, encourages clients to update the advisor on material life changes, and relies on custodial account statements rather than producing its own proprietary performance reports.
What distinguishes the firm from many peers is that the principal is also a licensed insurance agent appointed with unaffiliated carriers and earns commissions and renewal income on insurance and fixed annuity sales — the brochure discloses this activity consumes roughly 30% of the principal’s time and may create a conflict of interest that is disclosed to clients in advance. The brochure also notes the principal was named in a 2017 FINRA arbitration that was settled by a prior employer without the principal personally contributing to the settlement.
Client services
Financial planning
Portfolio management
Expertise
Cash flow / budgeting
Debt management
College savings (529s, UTMA, etc.)
General retirement planning
Retirement withdrawal strategies
Fee options
Financial planning fixed fee of $1,000
$0 - $199,999: 1.20% annually $200,000 - $499,999: 1.10% annually $500,000 - $999,999: 1.00% annually $1,000,000 - $1,999,999: 0.75% annually $2,000,000 - $2,999,999: 0.50% annually $3,000,000+: 0.25% annually
Commissions earned by licensed insurance agent on insurance products, separate from advisory fees.
Minimum fee: Fixed fee of $1,000 for financial planning engagements Fee-only: Financial planning fixed fee of $1,000; portfolio management fees as tiered AUM percentages; no commissions received by the firm.
Most active in
Mills Financial Services LLC has reported serving >5 clients in these states in the last 12 months.
California
Disclosures
Firm disclosures are reported in Form ADV Part 1A, Item 11. They include criminal charges, regulatory actions, civil proceedings, and professional disciplinary events involving the firm or its advisory affiliates.
Exclamation point means they have disclosures of this type. Check mark means no disclosures of this type were found.
Business activities & affiliations
These affiliations may expand the services this firm offers and, in some cases, how they are compensated.
Is active or affiliated with:
Insurance agent
They sell insurance products and may earn commissions on those sales.
Is not active or affiliated with:
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Broker-dealer / trader
They provide brokerage services and may earn transaction-based compensation in addition to advisory fees.
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Bank
They're affiliated with a bank that may offer its own financial products and services.
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Trust company
They provide trust and estate administration services, typically for separate fees.
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Fund sponsor
They manage or sponsor investment funds and may earn management or performance-based fees if clients invest in them.
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Accountant / CPA / tax prep
They offer tax and accounting services, typically for separate fees.
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Lawyer
They provide legal services, typically billed separately.
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Real estate agent
They facilitate real estate transactions and may earn commissions.
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Other specialized services
They may provide services such as pension consulting or municipal advisory work, typically for separate fees.
Forms ADV
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