Millstone Financial Group Limited Liability provides financial planning, portfolio management for individuals and small businesses, pension consulting, selecting other managers, and educational seminars.
Millstone Financial Group Limited Liability reports 297 clients. They include 230 individual clients and 67 high-net-worth individuals. Of its assets, 97.2% ($101M across 466 accounts) are managed with discretion; $2.97M across 17 accounts are not.
| Client type | Clients | Assets |
|---|---|---|
| Individuals (other than HNW) | 77% | 49% |
| High-net-worth individuals | 23% | 51% |
Client breakdown and activity details
| Client type | Clients | Regulatory AUM | AUM share | Avg. per client |
|---|---|---|---|---|
| Individuals (other than HNW) | 230 | $50.9M | 48.7% | $221K |
| High-net-worth individuals | 67 | $53.6M | 51.3% | $800K |
| Total | 297 | $104M | 100% | $352K |
- Clients
- 230
- Regulatory AUM
- $50.9M
- AUM share
- 48.7%
- Avg. per client
- $221K
- Clients
- 67
- Regulatory AUM
- $53.6M
- AUM share
- 51.3%
- Avg. per client
- $800K
Total
- Clients
- 297
- Regulatory AUM
- $104M
- AUM share
- 100%
- Avg. per client
- $352K
- Clients outside the U.S.
- 0%
- Clients advised without assets under management last fiscal year
- 0
- Private funds advised
- 0
- Financial planning clients last fiscal year
- 0
Millstone Financial Group Limited Liability charges 0.40%–1.25% a year for its Asset Management. The fee is billed in arrears and is negotiable. The brochure also prices 3 other services, listed under fee details.
Fee details and sources
Other fees
- ERISA Plan Services
- An annual fee on the included plan assets that will not exceed 1%, negotiable, charged as a percentage of those assets.
- Financial Consulting
- Hourly consulting at $250 per hour, billed 50% in advance with the balance due on delivery.
- Financial Planning
- The Millstone Advisory Plan fee is $1,500, half paid on signing the agreement and the remainder on completion of the plan.
Michael Russo owns 50% to 75% of Millstone Financial Group Limited Liability. The leadership team of Millstone Financial Group Limited Liability includes Chief Compliance Officer Michael Russo. It has 9 employees, 6 of them in advisory roles.
Staff
- 9 employees
- 6 in advisory functions
- 6 state-registered reps
- 5 insurance agents
- Owns 50% to 75% of Millstone Financial Group Limited Liability Company
Michael Russo
Control person · since August 2018
- Owns 50% to 75% of Millstone Financial Group Limited Liability Company
Donald Albach
Control person · since August 2018
Besides its headquarters, Millstone Financial Group Limited Liability has 2 offices, with 3 listed addresses in 1 state.
New Jersey · 3 listed addresses
- 902 Carnegie Center BLVD, Suite 130, PrincetonHQ
- 1200 US-22, Bridgewater
- 125 Half Mile RD, Red Bank
Contact and registration details
- Legal name
- Millstone Financial Group Limited Liability Company
- Headquarters
- 902 Carnegie Center BLVD, Suite 130, Princeton, NJ 08540
- Website
- Not reported
- Phone
- 732-385-8544
- @millstone-financial
- SEC file
- 801-135605
- Structure
- New Jersey LLC
- Fiscal year end
- December
Millstone Financial Group Limited Liability’s named custodian for separately managed accounts is Altruist ($104M). Millstone Financial Group Limited Liability does not have custody of client assets.
The filed custodian amounts total more than regulatory assets under management. Each amount is shown as filed.
- AltruistAltruist Financial LLC · Culver City, CA · $104M100%
At year end, Millstone Financial Group Limited Liability’s separately managed accounts were mostly in funds (89%).
What the accounts hold
- Stocks6%
- Funds89%
- Cash5%
How many clients does Millstone Financial Group Limited Liability have?
Millstone Financial Group Limited Liability has 297 clients and manages $104 million for them, as of June 2026. They include 230 individual clients and 67 high-net-worth individuals.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 24 June 2026
What services does Millstone Financial Group Limited Liability offer?
Millstone Financial Group Limited Liability provides financial planning, portfolio management for individuals and small businesses, pension consulting, selecting other managers, and educational seminars.
Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file
How much does Millstone Financial Group Limited Liability charge?
Millstone Financial Group Limited Liability charges 0.40%–1.25% a year for its Asset Management. The fee is billed in arrears and is negotiable.
Source: ADV PART 2A, filed 24 June 2026
Which custodians does Millstone Financial Group Limited Liability use?
Millstone Financial Group Limited Liability’s separately managed account assets are held at Altruist Financial LLC (Culver City, CA), with $104M. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 24 June 2026
How many financial advisors does Millstone Financial Group Limited Liability have?
Millstone Financial Group Limited Liability has 6 investment adviser representatives registered with state securities authorities, out of 9 employees, and 6 perform investment advisory functions. 0 employees are registered representatives of a broker-dealer and 5 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 Millstone Financial Group Limited Liability invest in?
At the end of its last fiscal year, Millstone Financial Group Limited Liability’s separately managed accounts held 89% registered funds (mutual funds, ETFs, BDCs), 6% exchange-traded equities and 5% cash and equivalents.
Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file
Who owns Millstone Financial Group Limited Liability?
Millstone Financial Group Limited Liability’s direct owners are Michael Russo (50% to 75%) and Donald Albach (50% to 75%).
Source: Form ADV Part 1A, Schedules A and B, filed 24 June 2026
How does Millstone Financial Group Limited Liability get paid?
Millstone Financial Group Limited Liability is paid through a percentage of assets under management, hourly charges and fixed fees. Its Form ADV lists no commissions or performance-based fees 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 Millstone Financial Group Limited Liability?
Millstone Financial Group Limited Liability’s main office is at 902 Carnegie Center BLVD, Suite 130, Princeton, NJ 08540. Its phone number is 732-385-8544.