Park, Miller, LLC (Walnut Creek)

Name: Park, Miller, LLC
Address: 2121 North California Blvd., Walnut Creek, CA, 94596
Telephone: 925-974-3323

Park, Miller, LLC is a large advisory firm based in Walnut Creek. It manages $193.54 million of regulatory assets for 216 client accounts. It has been registered with the SEC as an adviser since 2008 and has operated in the jurisdiction of California.

Park, Miller provides financial planning services, portfolio management for individuals and small businesses, portfolio management for pooled investment vehicles, portfolio management for businesses and institutional clients, and selection of other advisers. It prepares financial plans for less than 10 clients. On top of advisory services, the firm doesn't engage in other business activities.

Park, Miller: assets under management

The assets under management (AUM) of Park, Miller, LLC is $193.54 million. The firm's AUM has grown by 88% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $193.54 million in discretionary accounts and $1.87 thousand in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $934.98 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $207.56.

Park, Miller has custody of $44.94 million in cash and securities for 9 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in investment and business development companies the most. They account for 41% of the total AUM. The second-largest asset type is exchange traded securities, which make up 37% of the firm’s portfolio. Investments in pooled investment vehicles form 16% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Park, Miller, LLC for their services and products based on a percentage of assets under management, hourly charges, fixed fees, and performance-based 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.

What kind of clients Park, Miller serves?

The firm provides services to individuals and high net worth individuals. The largest group of clients of Park, Miller is high net worth individuals with 33 clients and $177.41 million of assets under management. Among the 11 most similar advisory firms, Park, Miller has the 2nd highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $182.55 million for 51 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. None of the firm’s clients are foreign persons or businesses.

Park, Miller also advises several private funds. Namely, one hedge fund. The minimum investment commitment required of non-related persons is $100,000 for each fund.

Careers at Park, Miller, LLC

The company employs 5 people that are either part- or full-time employees. 60 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 compensates employees in addition to the salary for bringing in new clients. Employees don’t receive compensation from other entities for client referrals.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Stuart James Park	Managing member and chief compliance officer	1 Mar 2008	50% - 75%	1486997
John Mically Miller	Member	1 Mar 2008	50% - 75%	4360290

Based in Walnut Creek

The principal office where Park, Miller, LLC performs its advisory services is located at 2121 North California Blvd., Walnut Creek, CA 94596, which is also the mailing address of the firm. An additional office of the firm is in Discovery Bay, CA. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 925-974-3323 or by fax 925-407-2977. The normal business hours are 9:00 am to 5:00 pm on Monday - Friday. You can find more information about the New York firm at parkmiller.com.