Miller Investment Management provides financial planning, portfolio management for individuals and small businesses, portfolio management for pooled vehicles, portfolio management for institutions, pension consulting, and selecting other managers. Financial planning was provided to 26–50 clients last fiscal year. The firm advises 12 private funds.
Miller Investment Management reports 183 clients. They include 127 high-net-worth individuals, 28 individual clients and 18 pooled investment vehicles. Of its assets, 25.0% ($1.78B across 217 accounts) are managed with discretion; $5.33B across 91 accounts are not. Of its clients, 1% are outside the U.S. It advised 5 clients without assets under management last fiscal year.
| Client type | Clients | Assets |
|---|---|---|
| Individuals (other than HNW) | 15% | <1% |
| High-net-worth individuals | 69% | 89% |
| Pooled investment vehicles | 10% | 9% |
| Pension and profit-sharing plans | Fewer than 5 | <1% |
| Charitable organizations | 5% | 2% |
Client shares use reported counts. Client types without a reported count are excluded from that total.
Client breakdown and activity details
| Client type | Clients | Regulatory AUM | AUM share | Avg. per client |
|---|---|---|---|---|
| Individuals (other than HNW) | 28 | $9.47M | 0.1% | $338K |
| High-net-worth individuals | 127 | $6.3B | 88.6% | $49.6M |
| Pooled investment vehicles | 18 | $638M | 9.0% | $35.4M |
| Pension and profit-sharing plans | Fewer than 5 | $1.1M | 0.0% | — |
| Charitable organizations | 10 | $159M | 2.2% | $15.9M |
| Total | 183 | $7.1B | 100% | — |
- Clients
- 28
- Regulatory AUM
- $9.47M
- AUM share
- 0.1%
- Avg. per client
- $338K
- Clients
- 127
- Regulatory AUM
- $6.3B
- AUM share
- 88.6%
- Avg. per client
- $49.6M
- Clients
- 18
- Regulatory AUM
- $638M
- AUM share
- 9.0%
- Avg. per client
- $35.4M
- Clients
- Fewer than 5
- Regulatory AUM
- $1.1M
- AUM share
- 0.0%
- Avg. per client
- —
- Clients
- 10
- Regulatory AUM
- $159M
- AUM share
- 2.2%
- Avg. per client
- $15.9M
Total
- Clients
- 183
- Regulatory AUM
- $7.1B
- AUM share
- 100%
- Avg. per client
- —
- Clients outside the U.S.
- 1%
- Clients advised without assets under management last fiscal year
- 5
- Private funds advised
- 12
- Financial planning clients last fiscal year
- 26–50
Miller Investment Management charges up to 1.00% a year for its Separately managed accounts. The fee is billed in advance and is negotiable.
Fee details and sources
Strategic Advisors owns 25% to 50% of Miller Investment Management. The leadership team of Miller Investment Management includes Chief Financial Officer Christine Dostillio. It has 18 employees, 7 of them in advisory roles.
Leadership
- Christine DostillioChief Compliance Officer, Chief Financial Officer
- Henry MillerManaging Partner
- Paul IsaacLimited Partner
Investment adviser representatives
6 representatives listed in the SEC register as of 9 October 2026.
- Elwyn Evans III
- Daniel Joseph Harnish
- Timothy Patrick Letter
- Henry Scott Miller Jr.
- Clayton Patrick Parrett
Staff
- 18 employees
- 7 in advisory functions
- 6 state-registered reps
- 1 broker-dealer rep
- 1 insurance agent
- Owns 75% or more of Miller Investment Management, LP
Henry Miller
Control person · since July 1996
- Owns 25% to 50% of Miller Investment Management, LP
Strategic Advisors
Control person · since July 1998
- Owns 5% to 10% of Miller Investment Management, LP
Paul Isaac
since August 2001
- Owns 5% to 10% of Miller Investment Management, LP
Paul F Miller, JR. GST Tet Dated 6/25/1985
since July 2018
- Owns 5% to 10% of Miller Investment Management, LP
Paul F Miller, JR. GST Tet Dated
since July 2018
- Owns 5% to 10% of Miller Investment Management, LP
Sujoda Investments, LP
since September 2022
Miller Investment Management’s regulatory assets grew 1.8× from $4.02B (July 2021) to $7.1B (March 2026); clients fell from 203 to 183 and employees from 22 to 18.
Figures from each annual filing
| Filed | Regulatory AUM | Clients | Employees | Offices |
|---|---|---|---|---|
| March 2026 | $7.1B | 183 | 18 | 2 |
| March 2025 | $5.69B | 186 | 19 | 2 |
| April 2024 | $6.38B | 219 | 23 | 2 |
| May 2023 | $5.09B | 205 | 21 | 3 |
| May 2022 | $5.5B | 220 | 21 | 4 |
| July 2021 | $4.02B | 203 | 22 | 4 |
Besides its headquarters, Miller Investment Management has 1 office, with 2 listed addresses in New York and Pennsylvania.
New York · 1 listed address
- 717 Fifth Avenue, New York
Pennsylvania · 1 listed address
- One Tower Bridge, Ste 1400, West ConshohockenHQ
Contact and registration details
- Legal name
- Miller Investment Management, LP
- Headquarters
- One Tower Bridge, Ste 1400, West Conshohocken, PA 19428-2874
- Website
- millerinv.com
- Phone
- 610-834-9820
- @millerinv.com
- SEC file
- 801-56027
- Structure
- Pennsylvania limited partnership
- Fiscal year end
- December
Miller Investment Management uses J.P. Morgan ($5.21B, 83%), Pershing ($624M, 10%) and Bank of America Private Bank ($417M, 7%) as custodians for its separately managed accounts. Miller Investment Management has custody of $655M in client assets for 20 clients.
- J.P. MorganJ.P. Morgan Securities LLC · New York, NY · $5.21B83%
- PershingPershing LLC · Jersey City, NJ · $624M10%
- Bank of America Private BankBank of America Private Bank · Dallas, TX · $417M7%
At year end, Miller Investment Management’s separately managed accounts were mostly in stocks (70%) and funds (24%). Its reported 13F holdings for the quarter ended 30 June 2026 total $1.09B across 83 positions; the largest are SPDR S&P 500 ETF TR (20.3%), SPDR Ser TR (11.1%) and Vanguard Scottsdale Fds (8.2%).
What the accounts hold
- Stocks70%
- Funds24%
- Cash6%
Reported 13F holdings
- $1.09B
- Reported 13F value
- 83
- Positions
- 74.6%
- In the 10 largest
- +8.7%
- Value vs. prior quarter
- SPDR S&P 500 ETF TR · TR Unit20.3%
- SPDR Ser TR · Bloomberg 3-12 M11.1%
- Vanguard Scottsdale Fds · Short Term Treas8.2%
- Berkshire Hathaway Inc. Del · CL B New7.3%
- Vanguard Scottsdale Fds · Inter Term Treas7.0%
- iShares TR · MSCI Eafe ETF6.2%
- Vaneck Vectors ETF TR · Semiconductor ET5.7%
- Meta Platforms Inc. · CL A3.1%
- Alphabet Inc. · Cap Stk CL A2.9%
- Vanguard Index Fds · Large Cap ETF2.8%
Together, the ten largest are 74.6% of reported value.
How many clients does Miller Investment Management have?
Miller Investment Management has 183 clients and manages $7.1 billion for them, as of March 2026. They include 127 high-net-worth individuals, 28 individual clients and 18 pooled investment vehicles.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 31 March 2026
What services does Miller Investment Management offer?
Miller Investment Management provides financial planning, portfolio management for individuals and small businesses, portfolio management for pooled vehicles, portfolio management for institutions, pension consulting, and selecting other managers.
Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file
How much does Miller Investment Management charge?
Miller Investment Management charges up to 1.00% a year for its Separately managed accounts. The fee is billed in advance and is negotiable.
Which custodians does Miller Investment Management use?
Miller Investment Management’s separately managed account assets are held at J.P. Morgan Securities LLC (New York, NY), with $5.21B, Pershing LLC (Jersey City, NJ), with $624M and Bank of America Private Bank (Dallas, TX), with $417M. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 31 March 2026
How many financial advisors does Miller Investment Management have?
Miller Investment Management has 6 investment adviser representatives registered with state securities authorities, out of 18 employees, and 7 perform investment advisory functions. 1 employee is a registered representative of a broker-dealer and 1 employee is a licensed insurance agent.
Source: Form ADV Part 1A, Items 5.A and 5.B, from the SEC's 2 October 2026 data file
What does Miller Investment Management invest in?
At the end of its last fiscal year, Miller Investment Management’s separately managed accounts held 70% exchange-traded equities, 24% registered funds (mutual funds, ETFs, BDCs) and 6% cash and equivalents. It advises 12 private funds.
Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file
Who owns Miller Investment Management?
Miller Investment Management’s direct owners are Strategic Advisors (25% to 50%), Paul Isaac (5% to 10%), Paul F Miller, JR. GST Tet Dated 6/25/1985 (5% to 10%), Paul F Miller, JR. GST Tet Dated (5% to 10%), Sujoda Investments, LP (5% to 10%) and Henry Miller (75% or more).
Source: Form ADV Part 1A, Schedules A and B, filed 31 March 2026
How does Miller Investment Management get paid?
Miller Investment Management is paid through a percentage of assets under management, fixed fees and performance-based fees. Its Form ADV lists no commissions among how it is paid.
Source: Form ADV Part 1A, Item 5.E, from the SEC's 2 October 2026 data file
How do I contact Miller Investment Management?
Miller Investment Management’s main office is at One Tower Bridge, Ste 1400, West Conshohocken, PA 19428-2874. Its phone number is 610-834-9820. Its website is millerinv.com.