About Mills Wealth Advisors, LLC Mills Wealth Advisors, LLC (MWA) is a registered investment advisor based in Southlake, Texas. We are organized as a limited liability company under the laws of the State of Texas and have been providing investment advisory services as a register investment advisor since February 2012. From 1999 until February 2012, Mike Mills, the principal owner of Mills Wealth Advisors, LLC provided investment management services and financial planning doing business as an investment adviser representative of an independent investment adviser/broker-dealer. Mike Mills is the majority owner of Mills Wealth Advisors, LLC (please also refer to the information on our website at www.millswealthadvisors.com). MWA’s physical office is located in Southlake, Texas, however given our founder’s military background, we service clients around the globe. We have invested in a technology stack and created workflows that allow us to provide the same level of service with face-to-face meetings, no matter where our clients are located. At MWA, we are committed to the financial planning process and the Code of Ethics and Standards of Conduct required of a Certified Financial Planning, CFP® professional: These are: 1. Act with honesty, integrity, competence, and diligence. 2. Act in the client’s best interests. 3. Exercise due care. 4. Avoid or disclose and manage conflicts of interest. 5. Maintain confidentiality and protect the privacy of client information. 6. Act in a manner that reflects positively on the financial planning profession and CFP® certification. At MWA we believe in Transparency and upholding the highest ethical standards. As a fiduciary, we have a ‘client first’ “best is best” policy that governs the recommendations we give and how we interact with our clients. Our process begins by gathering detailed information, asking thought provoking questions, listening to understand the answers, and the rationale behind the answers. This active listening helps us understand our client’s goals, constraints, dreams, and fears. Armed with this important information our team of professionals leverages their wisdom and experience to co-create a financial plan that capitalizes on our client’s strengths and attempts to solve or minimize any weaknesses. To our advisor’s the financial plan becomes our team’s roadmap to the recommendations we provide, however to our clients the plan combined with the financial planning software acts as a financial simulator that can aide in decision making. Testing hypothetical courses of action helps our clients visualize the long-term impact of their choices and when combined with the journey through the financial planning process, it can provide clients with clarity and confidence. Our firm specializes in advising business leaders and their families at life's important transitional events like: Preparing for retirement, the complexities that can come from selling your business, being bought by private equity, changing employers, optimizing employer compensation (like RSUs, Options, ESOPs,105B1 plans), funding education, experiencing a divorce, or dealing with the death of a parent. Lowering costs, consolidating assets, providing detailed consolidated reporting, minimizing taxes, or advising on ways to transfer risk are just a few of the common ways we help our clients succeed. Our clients have complex financial affairs, limited time, and are looking for an experienced team of professional financial advisors (CFPs and CPAs) that can work together to understand where you are and where you want to go. Our team believes incentives matter, and as such we value our independence from large bureaucratic financial organizations. We believe in maintaining high standards and “raving fan” service that fosters deep personal relationships with you and your family. These relationships are built on trust and respect, and if done properly will span decades. At MWA we believe financial success is measured in our client’s ability to live well. We strive to create a financial plan that aligns values with choices in a manner that provides confidence and clarity with the ability to act or give without fear or remorse. To accomplish this, we recommend customized strategies to accomplish client goals. Common themes used in our planning are to extend client time frames, diversify globally, keep cost low, minimize taxes, and to resist the temptation to beat the market, opting instead to accept that investment structure (asset allocation) can be designed to produce somewhat predictable long-term outcomes. Investing is emotional, and as an unbiased third party, we help client’s ignore Wall Street's "noise" and by accepting that no one knows the short-term direction of the market. This mindset can increase the probability of a successful investment experience. Our evidence-based investment approach is
• grounded in ever growing body of knowledge developed in and out of academia over the last 60+ years. Our firm's CORE+ models give our client’s access to a public market Core portfolio primarily using low cost, broadly diversified, second-generation institutional index funds and/or exchange-traded funds ("ETFs") “+” a concentrated satellite portfolio of select investments designed to provide specific characteristics to accomplish client objectives.
• “Cost matter” is a common theme embedded inside MWA’s investment philosophy and because lowering cost can improve returns, MWA models strive to keep implementation cost to a minimum. Two areas where cost can erode portfolio returns are Trading and taxes.
• MWA’s proprietary trading methodology allows for significant portfolio customization and strives to lower our client’s tax bill by leveraging MWA’s proprietary asset location strategy, which strategically purchases investments inside account types based our client’s personal tax characteristics, MWA’s Tax Smart Rebalancing program, which changes rebalancing rules based on client tax characteristics, and MWA’s enhanced tax loss harvesting solution, which captures and banks tax losses that can be used to offset future capital gains. These three strategies work together to lower or to minimize investment related tax cost. The following paragraphs describe our services and fees. Please refer to the description of each investment advisory service listed below for information on how we tailor our advisory services to your individual needs. As used in this brochure, the words "we", "our" and "us" refer to Mills Wealth Advisors, LLC, and the words "you", "your" and "client" refer to you as either a client or prospective client of our firm. Description of Services We provide our clients with wealth management services consisting of financial planning, consulting services and portfolio management services. Financial Planning and Consulting Services Our financial planning services are provided based on a goal driven philosophy. Our plans are designed to integrate the components of the financial planning process in a manner that we believe leads to increased confidence and control by efficiently integrating the following areas:
• Cash management and liquidity planning
• Risk management planning
• Investment planning
• Proactive Income tax planning
• Retirement income planning
• Education planning
• Estate planning
• Executive Benefits (Stock option analysis & planning).
• Business Succession Planning
• Retirement plan design & consulting Our process is designed to determine and address our client's overall needs, goals, and dreams. The steps in our process consist of the following meetings:
• Introductory meeting- the intro meeting is a get-to-know-each-other meeting (free of charge) where we will both determine if it is a good fit to start our relationship. Should you decide to engage our firm, we request that you complete a detailed, confidential client questionnaire and provide the applicable documents that we will need to complete your Financial Plan.
• Questionnaire meeting- in this meeting we will ask questions based on the information provided to determine expected cash flow, net worth, confidence in the ability to reach goals, tax considerations, time horizon objectives, risk capacity, income and growth expectations, etc.
• Plan Delivery meeting- we present a written financial plan with our recommendations for your review. The financial plan is based upon the information collected and the goals set forth in the questionnaire meeting.
• Implementation meeting- pending your approval, we will implement the plan on your behalf. Plan implementation

will be accomplished via our asset management services and/or fixed insurance products described below. You may impose restrictions on our ability to implement particular types of investments or investment strategies. At the onset of the relationship, you will sign an advisory agreement that describes the financial planning engagement, any investment restrictions, and the fees that we charge. Plans may need to be updated from time to time as situations change.
• 90-day and annual review meeting- we will have a 90-day meeting to review any changes implemented from your financial plan. Also, our firm will monitor/update your plan, if engaged to do so. We will also consult with your other personal advisors, when appropriate. We will review all decisions regarding implementing the initial plan with you. You have no obligation to open an account, to transact business, or to implement any recommendations or suggestions provided pursuant to the plan. We request that you promptly notify our firm if your financial situation, goals, objectives, or needs change. In addition, we will not verify independently any information we receive from our clients or our clients' other professional advisors but will instead rely upon the accuracy and completeness of the information provided in performing our services. We do not provide legal, income tax or accounting advice. Clients should not assume that we are providing these services at any time. Also, clients should understand that, generally speaking, securities or other investments for which we provide advice are not deposits or obligations of any bank, are not endorsed or guaranteed by any bank and are not insured by the Federal Deposit Insurance Corporation, the Federal Reserve Board or any other governmental agency. Consulting Services In some cases, we may provide consulting services which only address specific areas or subject matter. In limited cases we may also recommend alternative investments for certain sophisticated clients who are "qualified clients" and/or "accredited investors". Alternative investments may include private investments such as private equity funds, real estate development funds, mezzanine debt, and on a limited basis hedge funds which generally refers to a wide range of private restricted investments that can vary substantially in terms of size, strategy, business model, and organizational structure. In instances where we utilize these types of investments, we consider the extra return potential versus the additional cost and possible concentration of leaving a diversified core portfolio. Asset Management Services We offer discretionary and non-discretionary asset management services. Our investment advice is tailored to meet our clients' needs and investment objectives. If you retain our firm for asset management services, we will determine your investment objectives, risk tolerance, and other relevant information at the beginning of our advisory relationship, which may be accomplished via the financial planning process as described above. According to your risk tolerance and investing objectives we may invest your assets according to one or more model portfolios developed by our firm. Once we construct an investment portfolio for you, or select a model portfolio, we will monitor your portfolio's performance on an ongoing basis and will rebalance the portfolio as required by changes in market conditions and in your financial circumstances. For those clients that require an enhanced and/or specialized level of asset management services, we may also recommend unaffiliated Third-Party Advisers ("TPAs") to manage a portion of your account, based upon the stated investment objectives of the client. You will receive full disclosure of the TPA's services, fees and other relevant information at the inception of the relationship by way of the TPA's disclosure document. Fees charged by TPAs are separate and apart from the advisory fees charged by our firm and we will include the assets managed by the TPA when calculating our advisory fee. MWA shall continue to render asset management services to the client relative to the ongoing monitoring and review of account performance, asset allocation and client investment objectives. Factors which MWA shall consider in recommending TPAs include management style, performance, reputation, financial strength, reporting, pricing, and research. If you participate in our discretionary asset management services, we require you to grant our firm discretionary authority to manage your account. Discretionary authorization will allow us to determine the specific securities, and the amount of securities, to be purchased or sold for your account as well as the broker-dealer to be used and the commission rates to be paid without your approval prior to each transaction. Discretionary authority is typically granted by the investment advisory agreement you sign with our firm and the appropriate trading authorization forms. You may limit our discretionary authority (for example, limiting the types of securities that can be purchased for your account) by providing our firm with your restrictions and guidelines in writing. If you enter into non-discretionary arrangements with our firm, we must obtain your approval prior to executing any transactions on behalf of your account. Retirement Plan Services We provide Retirement Plan Advisory Services. Our firm’s advisors (IARs) may offer consulting and advisory services for employer sponsored retirement plans in accordance with the Employee Retirement Income Security Act (“ERISA”). The Retirement Plan Advisory Services are available on a discretionary (3/38) or non-discretionary basis (3/21). The services are outlined in the agreement or Investment Policy Statement. Held Away Assets We use a third-party platform to facilitate management of brokerage accounts and defined contribution plan participant accounts, with discretion. We manage these accounts using a third party system. Please refer to Item 12 – Brokerage Practices for more information. Mills Equity Fund, II, LP Our firm is the General Partner of the Mills Equity Fund II, LP, (the "Fund") a pooled investment vehicle we created to gain access to deeply distressed companies in need of significant restructuring and operational support. The Fund is only offered to certain sophisticated investors meeting certain net worth and other financial requirements and only via private placement memorandum and other offering documents. This Fund is closed to new investors. LS MWA Loan 2 Our firm is the Managing Member of the LS MWA Loan 2, llc (the "Fund 2") a pooled investment vehicle we created for securitized assets. The Fund is only offered to certain sophisticated investors meeting certain net worth and other financial requirements and only via private placement memorandum and other offering documents. This Fund is closed to new investors. Types of Investments We primarily offer advice on investments and how to structure investments to achieve specific financial goals. We may provide advice on publicly and privately traded investments. Our firm can advise on investments ranging from mutual funds, exchange traded funds ("ETFs"), real estate, equities, corporate and municipal bonds, US government securities, options contracts on securities and commodities, interests in partnerships investing in oil and gas, private placements, money market funds, real estate investment trusts ("REITS"), private placements, insurance products, and structured products. Our CORE+ portfolios are two pronged the “CORE” portion is comprised primarily of low- cost mutual funds and ETF's, the “+” portion of the portfolio may contain satellite investments that enhance the CORE portion of the portfolio and allow greater customization. Satellite investments vary by objective but may utilize a more concentrated, higher cost, active management strategy like a mutual fund, hedge fund, real estate, partnerships or other strategy that meets the client’s objective. Additionally, we may advise you on various types of investments based on your stated goals and objectives. We may also provide advice on any type of investment held in your portfolio at the inception of our advisory relationship. Since our investment strategies and advice are based on each client's specific financial situation, the investment advice we provide to you may be different or conflict with the advice we give to other clients regarding the same security or investment. Assets Under Management As of December 31, 2023, we managed approximately $312,969,112 in client assets on a discretionary basis, and $33,271,548 in client assets on a non-discretionary basis. As of December 31, 2023, we have approximately $32,187,760 in client assets under advisement.