Millares Asset Management, LLC is a large advisory firm based in Coral Gables. It manages $125.16 million of regulatory assets for 142 client accounts. It has been registered with the SEC as an adviser since 2015 and has operated in the jurisdiction of Florida.
Millares Asset Management provides financial planning services, portfolio management for individuals and small businesses, portfolio management for businesses and institutional clients, pension consulting services, selection of other advisers, and consulting. It prepares financial plans for less than 10 clients. On top of advisory services, the firm doesn't engage in other business activities.
The assets under management (AUM) of Millares Asset Management, LLC is $125.16 million, all of which is managed in discretionary accounts. The firm's AUM has gone down by -45% since the beginning of its operation, and $1.55 million of the total AUM is attributable to clients outside of the United States.
The advisory firm has several streams of revenue. Clients pay Millares Asset Management, LLC 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.
The firm provides services to individuals, high net worth individuals, corporations or other businesses, and pension and profit sharing plans. The largest group of clients of Millares Asset Management is high net worth individuals with 22 clients and $118.74 million of assets under management. Among the 7 most similar advisory firms, Millares Asset Management has the 2nd highest percentage of high net worth individuals out of all clients.
The amount of regulatory assets under management is $125.16 million for 41 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. 2% of the firm’s clients are foreign persons or businesses.
Millares Asset Management doesn't advise any private funds.
The company employs 3 people that are either part- or full-time employees. 100 percent of the employees work as investment advisers or researchers. 3 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 doesn’t compensate employees in addition to the salary for bringing in new clients. Employees don’t receive compensation from other entities for client referrals.
The principal office where Millares Asset Management, LLC performs its advisory services is located at 500 South Dixie Highway, Suite 201, Coral Gables, FL 33146, 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 305-662-9649 or by fax 305-666-9549. The normal business hours are 9am to 6pm on Monday - Friday. You can find more information about the New York firm at millaresam.net.