M
Millstein Advisors, LLC
Updated today
Data sourced from SEC public records (and other sources when available). Refreshed weekly • Updated today.
Total assets under management
$9,835,976
Total clients
14
64% high-net worth
Total advisors
1
of 1 employees
Firm size
Independent
1 advisor
Average clients per advisor
14
Average account size
$702,570
About
Millstein Advisors, LLC provides discretionary investment management and occasional consulting to individual clients and individual trusts with investable portfolios typically between about $100,000 and $3 million. Like many independent advisors, the firm operates on a fee‑only basis and manages diversified portfolios using ETFs, mutual funds, equities and fixed income instruments.
The firm’s core approach uses the 7Twelve® asset‑allocation framework as a foundation, tailoring allocations and periodic rebalancing to each client’s goals and risk tolerance and conducting regular reviews to confirm ongoing suitability. For risk‑tolerant clients, Millstein maintains a separate opportunistic sleeve that implements options‑based strategies — including calendar spreads, put writing and broken‑wing butterflies — with client consultation before material portfolio shifts.
What distinguishes Millstein from many peers is the active use of derivatives within separately managed accounts and a material allocation to opportunistic option strategies (several million dollars within its approximately $9.8 million in total AUM), a practice relatively uncommon among independent firms. Operational practices noted in the brochure include trade aggregation and simultaneous execution of multi‑leg trades, side‑by‑side participation with client accounts, and the use of a broker platform that supports collateral management for certain option strategies.
Client services
Portfolio management
Selection of other advisers
Consulting
Expertise
Options & derivatives strategies
Real estate investing
Fee options
Negotiated fixed fees for investment management services on a project basis; commonly used for predictable monthly fees in retirement.
$0 - $1,000,000: 1.00% $1,000,001 - $2,000,000: 0.60% $2,000,001+: 0.50%
Negotiable hourly fee typically $200 per hour, billed quarterly in arrears for consulting or specialized investment management services.
Account minimum: $100,000 Fee-only: Fee-only; no commissions or third-party payments accepted by the firm.
Main office location
Millstein Advisors, LLC
Santa Fe NM, United States
Number of offices
1
Most active in
Millstein Advisors, LLC has reported serving >5 clients in these states in the last 12 months.
New Mexico · Texas
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 not active or affiliated with:
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Insurance agent
They sell insurance products and may earn commissions on those sales.
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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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