Miller Wealth Advisors, LLC (“Miller Wealth Advisors”, “MWA” or “Advisor”), is a Texas
limited liability company located in Ridgway, Colorado. MWA is a registered
investment advisor regulated by and registered with the United States Securities and
Exchange Commission (“SEC”). MWA is wholly owned by Bert E. Miller, CPA, CLU,
ChFC, the Advisor’s Managing Member. While this entity is a relatively newer
registrant, the Managing Member of the Advisor has been in the financial industry for
decades. A client or prospective client can review Mr. Miller’s business biography in
the attached ADV Part 2B Brochure. Don Gilbert is MWA’s Chief Compliance Officer.
MWA offers professional fee-only Investment Management Services. MWA can
provide customized services to individuals, high net worth individuals, trusts, estates,
charitable organizations, corporations, and business entities. MWA also offers
complimentary general financial and investment newsletters and information for clients
and prospective clients. MWA normally provides limited discretionary investment
services but on occasion may agree to manage a portfolio on a non-discretionary
basis, at the discretion of the Advisor.
“Advisor Representatives” are those persons authorized and licensed as investment
Advisor Representatives to deliver investment advisory services. The term “fee-only”
means that Miller Wealth Advisors is an independent Investment Advisor that is
compensated only in the form of advisory fees paid by investors.
MWA is not a broker/dealer or custodial firm. MWA’s Advisor Representatives are not
registered as Registered Representatives of a broker/dealer and do not accept
commissions in exchange for securities recommendations. Transactions in securities
will be executed by an unaffiliated custodial firm of clients’ choosing.
MWA is not an insurance agency, its Advisor Representatives are not licensed
insurance agents and therefore neither party accepts insurance commissions.
MWA offers a complimentary general introduction to discuss available services, to
give a prospective client an opportunity to discuss their present situation and goals as
well as to determine the possibility of a potential Client-Advisor relationship. Services
begin only after a client and Advisor formalize the relationship with a properly
executed Advisory Agreement.
After the formal engagement and depending upon the scope of the engagement, the
Advisor and client will share in a data gathering and discovery process in an effort to
determine the client’s needs, goals, intentions, time horizons, risk tolerance and
investment objectives, based upon information provided by the client and the nature of
services requested.
Investment Management Services are ongoing in nature and may include other
client-initiated consultations pertaining to general financial issues or as the client
may request.
After an interview is conducted, the Advisor will review the client’s stated individual
needs, goals, time horizons and risk tolerance. MWA utilizes the information provided
to formulate recommendations to address planning for long-range goals, (i.e.,
retirement or college planning) or other segments of an investment plan that may be
desired. Throughout the engagement and at the client’s request, MWA can be
available for general consultations on financial planning topics as they relate to
income, estate planning, and risk management issues.
MWA focuses on providing individualized services. MWA can tailor services to focus
only on certain portfolio components, depending upon the client’s wishes and/or the
nature of the engagement. However, where Investment Management Services or
information are limited, clients must understand that comprehensive investment needs
and or objectives may not be fully considered due to the client’s option to receive
limited services, the lack of information received, and/or client disclosure. MWA client
will share in a data gathering and discovery process in an effort to determine the
client’s stated needs, goals, intentions, time horizons, risk tolerance and investment
objectives, based upon information provided by the client and the nature of services
requested. Clients are welcome to set parameters on the Advisor’s limited
discretionary authority in writing as to types of investments and amounts purchased or
sold.
The Advisor’s goal is to construct a diversified portfolio of investment
recommendations that are within its realm of expertise and developed with the client’s
participation. In each case, the client’s stated needs and goals are taken into
consideration and documented in the investment policy statement or similar
documentation. MWA will generally seek to allocate the client’s assets among various
investments, taking into consideration the client’s strategic portfolio framework.
Recommended investments may generally include individual stocks, exchange traded
funds (“ETFs”), mutual funds, short-term instruments, bonds, and other investment
vehicles. MWA may also evaluate or offer advice on life and annuity investments.
Once the portfolio is implemented or transferred for services MWA provides
continuous monitoring, recommendations and investment advice as outlined in the
Advisory Agreement. In each case, the Advisor manages the portfolio based upon
each client’s unique needs and directives provided. The ongoing services will be
based upon the client’s
stated needs and objectives and may therefore vary in
complexity.
In providing ongoing Investment Management Services, MWA will manage investor
funds in accordance with the client’s investment policy statement (or similar
document) and will remain available for ongoing advice and recommendations.
Clients engaging Investment Management Services must play an active role. The
Advisor requires the client to participate in the development of the investment policy
statement (or similar document) and provide disclosure of material information that is
critical to the delivery of services. In addition, MWA requests that clients review and
update their financial situation and investment policy no less than annually. During the
course of the engagement, clients may call the office any time during business hours
to discuss their financial concerns, their portfolio and to ask questions. Clients must
immediately report changes in their financial situation to MWA in order to provide the
Advisor with the opportunity to review the portfolio to ensure it continues to be
structured to help meet the client’s stated needs and objectives.
Where investment management services and/or consultations focus only on certain
facets of a client interests, needs or are otherwise limited, clients must understand that
a client’s overall financial and investment needs and objectives may not be considered
as a result of time and/or service restraints placed on the Advisor’s services.
The implementation of any self-directed securities (those managed only by the client)
and/or non-securities matters, in whole or in part, is entirely at the client’s discretion
via the service provider(s) of the client’s choice as communicated in the MWA client
agreement.
MWA is not a broker/dealer or custodian and therefore does not execute transactions
or hold client funds and securities. MWA recommends unaffiliated custodial firms to
clients (such as Charles Schwab & Co., Inc.). The qualified custodian provides MWA
and its clients with access to their institutional trading and custody services.
Additionally, MWA has engaged an unaffiliated investment service firm to provide
administrative services to support MWA provision of investment management services
to its clients. The fees associated with these administrative services are paid by MWA
directly. The custodian will have access to client data only as needed to provide
contractually agreed services as described in MWA’s privacy policy found at the end
of this Brochure. These coordinated services allow MWA to focus on its core business
– taking care of clients and providing investment management services.
Investment recommendations in connection to assets invested in corporate retirement
plans are limited to those offered within the plan and transactions must occur via a
plan’s contracted service provider(s).
Retirement Plan Rollovers: As noted throughout this Brochure, MWA is a fiduciary
to each of its clients and naturally fiduciary duties apply to investment advice in
connection with your retirement plan account or individual retirement account within
the meaning of Title I of the Employee Retirement Income Security Act and/or the
Internal Revenue Code, as applicable, which are laws governing retirement accounts.
The way we make money (asset-based fees for managed accounts) creates some
conflicts with your interests, Therefore, we must operate under a special rule that
requires us to act in your best interest and not put our interests ahead of yours. At the
time of a rollover recommendation, we will provide you with written disclosure
discussing the reasons the rollover is in your best interests. Also, under ERISA’s
special rule’s provisions, we must:
* Meet a professional standard of care when making investment recommendations
(give prudent advice)
* Never put our financial interests ahead of yours when making recommendations
(give loyal advice)
* We must provide basic information about conflicts of interests and fees while
avoiding misleading statements about these topics and investments
* Follow policies and procedures designed to ensure that we give advice that is in
your best interest.
* Charge no more than is reasonable for our services.
Clients requiring assistance on issues relating to matters outside of investment
advisory topics should consult their personal tax advisor, legal counsel, or other
professionals for expert opinions.
Any professional referrals (i.e., insurance agents / firms, accountants, attorneys, etc.)
are solely a courtesy. MWA does not accept direct or indirect compensation as a
result of referrals and does not accept sales commissions. Clients are welcome but
are never under any obligation to act upon any of the recommendations made by the
Advisor or to engage the services of any such recommended service firm or
professional, including the Advisor itself.
MWA does not participate in recommending wrap fee programs nor is the Advisor
engaged as a wrap fee program manager or sponsor.
MWA’s fiscal year end assets under management as of December 31, 2023,
consisted of $146,789,462 in 282 discretionary accounts. In addition, MWA’s assets
under advisement totaled over $31 million.
Assets under advisement are those monitored for clients on a non-discretionary
basis, where the clients are responsible for arranging or effecting purchases or
sales. All managed assets are owned by individuals and high net worth individuals.