Mills Wealth Advisors provides financial planning, portfolio management for individuals and small businesses, portfolio management for pooled vehicles, selecting other managers, business succession planning, divorce planning, education planning, estate planning, insurance, retirement plan services, and tax planning. Financial planning was provided to 251–500 clients last fiscal year. The firm advises 2 private funds.
Mills Wealth Advisors reports 472 clients. They include 275 individual clients, 171 high-net-worth individuals, and 16 pension and profit-sharing plans. Of its assets, 92.4% ($507M across 1,656 accounts) are managed with discretion; $41.6M across 221 accounts are not. Of its clients, 1% are outside the U.S.
| Client type | Clients | Assets |
|---|---|---|
| Individuals (other than HNW) | 58% | 13% |
| High-net-worth individuals | 36% | 77% |
| Pooled investment vehicles | <1% | <1% |
| Pension and profit-sharing plans | 3% | 9% |
| Corporations and other businesses | 2% | 1% |
Client breakdown and activity details
| Client type | Clients | Regulatory AUM | AUM share | Avg. per client |
|---|---|---|---|---|
| Individuals (other than HNW) | 275 | $73M | 13.3% | $265K |
| High-net-worth individuals | 171 | $421M | 76.8% | $2.46M |
| Pooled investment vehicles | 2 | $76.1K | 0.0% | $38.1K |
| Pension and profit-sharing plans | 16 | $48.3M | 8.8% | $3.02M |
| Corporations and other businesses | 8 | $6.1M | 1.1% | $762K |
| Total | 472 | $549M | 100% | $1.16M |
- Clients
- 275
- Regulatory AUM
- $73M
- AUM share
- 13.3%
- Avg. per client
- $265K
- Clients
- 171
- Regulatory AUM
- $421M
- AUM share
- 76.8%
- Avg. per client
- $2.46M
- Clients
- 2
- Regulatory AUM
- $76.1K
- AUM share
- 0.0%
- Avg. per client
- $38.1K
- Clients
- 16
- Regulatory AUM
- $48.3M
- AUM share
- 8.8%
- Avg. per client
- $3.02M
- Clients
- 8
- Regulatory AUM
- $6.1M
- AUM share
- 1.1%
- Avg. per client
- $762K
Total
- Clients
- 472
- Regulatory AUM
- $549M
- AUM share
- 100%
- Avg. per client
- $1.16M
- Clients outside the U.S.
- 1%
- Clients advised without assets under management last fiscal year
- 0
- Private funds advised
- 2
- Financial planning clients last fiscal year
- 251–500
Mills Wealth Advisors charges 0.50%–1.50% a year for its Asset Management Services. The fee is billed in advance and is negotiable. The brochure also prices 2 other services, listed under fee details.
Fee details and sources
Other fees
- Consulting Services
- Additional engagements and limited-scope consulting are billed at negotiable hourly fees of $300 to $500.
- Financial Planning Services
- Financial planning fees range from $3,000 to $10,000, with one-half of the fee for the initial written plan due at signing.
Michael Mills owns 75% or more of Mills Wealth Advisors. The leadership team of Mills Wealth Advisors includes President Michael Mills. It has 8 employees, 6 of them in advisory roles.
Staff
- 8 employees
- 6 in advisory functions
- 6 state-registered reps
- 2 insurance agents
- Owns 75% or more of Mills Wealth Advisors, LLC
Michael Mills
Control person · since April 2003
- Owns 5% to 10% of Mills Wealth Advisors, LLC
Stephen Nelson
since January 2022
Mills Wealth Advisors’ regulatory assets grew 2.5× from $222M (March 2021) to $549M (March 2026); clients rose from 300 to 472 and employees from 5 to 8.
Figures from each annual filing
| Filed | Regulatory AUM | Clients | StaffEmployees | Offices |
|---|---|---|---|---|
| Mar 2026March 2026 | $549M | 472 | 8 | 1 |
| Jun 2025June 2025 | $440M | 412 | 6 | 1 |
| Mar 2024March 2024 | $346M | 356 | 6 | 1 |
| Mar 2023March 2023 | $288M | 331 | 7 | 1 |
| Mar 2022March 2022 | $293M | 299 | 5 | 1 |
| Mar 2021March 2021 | $222M | 300 | 5 | 1 |
Besides its headquarters, Mills Wealth Advisors has 0 offices, with 1 listed address in 1 state.
Texas · 1 listed address
- 1207 S. White Chapel BLVD, Suite 150, SouthlakeHQ
Other business names
Mills Wealth Advisors has reported 1 other business name to the SEC.
- Mills Wealth
Contact and registration details
- Legal name
- Mills Wealth Advisors, LLC
- Headquarters
- 1207 S. White Chapel BLVD, Suite 150, Southlake, TX 76092
- Website
- millswealthadvisors.com
- Phone
- 817-416-7300
- @mills-wealth-advisors
- SEC file
- 801-110251
- Founded
- 1999
- Structure
- Texas LLC
- Fiscal year end
- December
Mills Wealth Advisors’ named custodian for separately managed accounts is Charles Schwab ($549M). Mills Wealth Advisors has custody of $31.2M for 27 clients.
- Charles SchwabCharles Schwab & Co., Inc. · San Francisco, CA · $549M100%
At year end, Mills Wealth Advisors’ separately managed accounts were mostly in stocks (52%) and funds (36%). Its reported 13F holdings for the quarter ended 30 June 2026 total $318M across 76 positions; the largest are Dimensional ETF Trust (14.9%), Vanguard Malvern Fds (12.5%) and Vanguard Mun BD Fds (10.8%).
What the accounts hold
- Stocks52%
- Funds36%
- Cash8%
- Other3%
- Private investments, cash value3%
Filed values cover 99%. The neutral 1% gap has no reported category.
How many clients does Mills Wealth Advisors have?
Mills Wealth Advisors has 472 clients and manages $549 million for them, as of March 2026. They include 275 individual clients, 171 high-net-worth individuals, and 16 pension and profit-sharing plans.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 25 March 2026
What services does Mills Wealth Advisors offer?
Mills Wealth Advisors provides financial planning, portfolio management for individuals and small businesses, portfolio management for pooled vehicles, selecting other managers, business succession planning, divorce planning, education planning, estate planning, insurance, retirement plan services, and tax planning.
Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file; Part 2A brochure, Item 4
How much does Mills Wealth Advisors charge?
Mills Wealth Advisors charges 0.50%–1.50% a year for its Asset Management Services. The fee is billed in advance and is negotiable.
Source: MILLS WEALTH ADVISORS, LLC ADV 2, filed 25 March 2026
Which custodians does Mills Wealth Advisors use?
Mills Wealth Advisors’ separately managed account assets are held at Charles Schwab & Co., Inc. (San Francisco, CA), with $549M. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 25 March 2026
How many financial advisors does Mills Wealth Advisors have?
Mills Wealth Advisors has 6 investment adviser representatives registered with state securities authorities, out of 8 employees, and 6 perform investment advisory functions. 0 employees are registered representatives of a broker-dealer and 2 employees are licensed insurance agents.
Source: Form ADV Part 1A, Items 5.A and 5.B, from the SEC's 2 October 2026 data file
What does Mills Wealth Advisors invest in?
At the end of its last fiscal year, Mills Wealth Advisors’ separately managed accounts held 52% exchange-traded equities, 36% registered funds (mutual funds, ETFs, BDCs), 8% cash and equivalents and 3% other. The 3% other category is described as: Private Investments, Cash Value. It advises 2 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 Mills Wealth Advisors?
Mills Wealth Advisors’ direct owners are Michael Mills (75% or more) and Stephen Nelson (5% to 10%).
Source: Form ADV Part 1A, Schedules A and B, filed 25 March 2026
How does Mills Wealth Advisors get paid?
Mills Wealth Advisors is paid through a percentage of assets under management, hourly charges, 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 Mills Wealth Advisors?
Mills Wealth Advisors’ main office is at 1207 S. White Chapel BLVD, Suite 150, Southlake, TX 76092. Its phone number is 817-416-7300. Its website is millswealthadvisors.com.