{"url":"https://nivawealth.com/firms/millstone-financial-group-limited-liability-297882","iapdUrl":"https://adviserinfo.sec.gov/firm/summary/297882","regulatoryAum":104431570,"crd":"297882","adviserRoster":{"asOf":"2026-10-09","items":[{"crd":"1812200","suffix":null,"lastName":"ALBACH","firstName":"DONALD","middleName":"MICHAEL"},{"crd":"7891223","suffix":null,"lastName":"Black","firstName":"Ryan","middleName":"Wallace"},{"crd":"6760156","suffix":null,"lastName":"Flesch","firstName":"Kevin","middleName":"Charles"},{"crd":"7318764","suffix":null,"lastName":"Lino","firstName":"Luke","middleName":"V"},{"crd":"7774608","suffix":null,"lastName":"Noto","firstName":"Nicholas","middleName":"Steven"},{"crd":"2089164","suffix":null,"lastName":"RUSSO","firstName":"MICHAEL","middleName":"THOMAS"}],"total":6,"loadedAt":"2026-10-10T00:20:19.761928+00:00","sourceUrl":"https://reports.adviserinfo.sec.gov/reports/CompilationReports/IA_INDVL_Feed_10_09_2026.xml.zip"},"secFileNumber":"801-135605","legalName":"Millstone Financial Group Limited Liability Company","displayName":"Millstone Financial Group Limited Liability","slug":"millstone-financial-group-limited-liability-297882","website":null,"classification":{"segment":"individuals","segmentLabel":"Wealth management","type":"independent_wealth_manager","typeLabel":"RIA","feeDisclosure":"full"},"linkedinUrl":"https://www.linkedin.com/company/millstone-financial/","founded":null,"organization":"New Jersey limited liability company","fiscalYearEnd":"December","headquarters":{"street":"902 Carnegie Center BLVD, Suite 130","city":"Princeton","state":"NJ","stateName":"New Jersey","country":"United States","postalCode":"08540"},"tradeNames":[],"registration":{"secApproved":"20 March 2026","noticeFilings":null,"latestNoticeFiling":null},"wealthAumPerClient":351621.4478114478,"staff":{"employees":9,"advisory":6,"brokerDealerReps":0,"insuranceAgents":5,"promoters":0},"aum":{"regulatory":104431570,"discretionary":101458387,"discretionaryAccounts":466,"nonDiscretionary":2973183,"nonDiscretionaryAccounts":17,"wrapProgram":null,"nonUsClientsPct":0,"nonAumClients":0},"clientTypes":[{"label":"Individuals (other than HNW)","clients":230,"regulatoryAum":50861474},{"label":"High-net-worth individuals","clients":67,"regulatoryAum":53570096}],"feePrograms":[{"role":"main","program":"Asset Management","feeBasis":"range","fee_tiers":null,"sourceUrl":"https://files.adviserinfo.sec.gov/IAPD/Content/Common/crd_iapd_Brochure.aspx?BRCHR_VRSN_ID=1049326","versionId":1049326,"ratePeriod":"annual","fee_billing":"arrears","submittedOn":"2026-06-24","documentName":"ADV PART 2A","fee_rate_low":0.4,"fee_rate_high":1.25,"fee_negotiable":true,"minimum_account":null,"feeMinimumPeriod":null,"fee_minimum_annual":null},{"role":"other","program":"ERISA Plan Services","summary":"An annual fee on the included plan assets that will not exceed 1%, negotiable, charged as a percentage of those assets.","sourceUrl":"https://files.adviserinfo.sec.gov/IAPD/Content/Common/crd_iapd_Brochure.aspx?BRCHR_VRSN_ID=1049326","versionId":1049326,"submittedOn":"2026-06-24","documentName":"ADV PART 2A"},{"role":"other","program":"Financial Consulting","summary":"Hourly consulting at $250 per hour, billed 50% in advance with the balance due on delivery.","sourceUrl":"https://files.adviserinfo.sec.gov/IAPD/Content/Common/crd_iapd_Brochure.aspx?BRCHR_VRSN_ID=1049326","versionId":1049326,"submittedOn":"2026-06-24","documentName":"ADV PART 2A"},{"role":"other","program":"Financial Planning","summary":"The Millstone Advisory Plan fee is $1,500, half paid on signing the agreement and the remainder on completion of the plan.","sourceUrl":"https://files.adviserinfo.sec.gov/IAPD/Content/Common/crd_iapd_Brochure.aspx?BRCHR_VRSN_ID=1049326","versionId":1049326,"submittedOn":"2026-06-24","documentName":"ADV PART 2A"}],"brochureCoverage":{"scope":"sec_inventory","status":"reviewed","checkedAt":"2026-10-22T16:07:11.818824+00:00","documents":[{"name":"ADV PART 2A","status":"read","sourceUrl":"https://files.adviserinfo.sec.gov/IAPD/Content/Common/crd_iapd_Brochure.aspx?BRCHR_VRSN_ID=1049326","versionId":1049326,"submittedOn":"2026-06-24"}]},"custodians":[{"name":"Altruist Financial LLC","shortName":"Altruist","location":"Culver City, CA","smaAssets":104431571}],"custodyNote":"Millstone Financial Group Limited Liability does not have custody of client assets.","otherCustodians":[],"leadership":[{"name":"Michael Russo","title":"Owner/Chief Compliance Officer","crd":"2089164"},{"name":"Donald Albach","title":"Co- Owner","crd":"1812200"}],"ownership":[{"label":"Michael Russo","detail":"Owner/chief compliance officer in the 50% to 75% ownership band and a control person, since August 2018."},{"label":"Donald Albach","detail":"Co- owner in the 50% to 75% ownership band and a control person, since August 2018."}],"branchOffices":null,"filedOffices":{"otherThanPrincipal":2,"privateResidences":0},"listedOfficeAddresses":3,"foreignOffices":[],"officesByState":[{"state":"New Jersey","offices":3,"addresses":[{"street":"902 Carnegie Center BLVD, Suite 130","city":"Princeton","headquarters":true},{"street":"1200 US-22","city":"Bridgewater"},{"street":"125 Half Mile RD","city":"Red Bank"}]}],"advFacts":{"source":{"file":"ia100226.zip","asOf":"2 October 2026"},"telephone":"732-385-8544","stateRegisteredReps":6,"otherAdviserReps":0,"compensation":["A percentage of assets under management","Hourly charges","Fixed fees (other than subscription fees)"],"activities":["Financial planning services","Portfolio management for individuals and/or small businesses","Pension consulting services","Selection of other advisers (including private fund managers)","Educational seminars/workshops","Other"],"financialPlanningClients":"0","assetMix":[{"label":"Exchange-traded equity securities","percent":6},{"label":"Securities issued by registered investment companies or business development companies","percent":89},{"label":"Cash and cash equivalents","percent":5}],"privateFunds":0},"sources":{"adv1FilingDate":"24 June 2026","adv1Url":"https://reports.adviserinfo.sec.gov/reports/ADV/297882/PDF/297882.pdf","brochureDate":"24 June 2026","brochureUrl":"https://files.adviserinfo.sec.gov/IAPD/Content/Common/crd_iapd_Brochure.aspx?BRCHR_VRSN_ID=1049326","iapdCompiledDate":null,"retrievedDate":"15 October 2026","retrievedOn":"2026-10-15","updatedOn":"2026-10-22","holdingsUpdatedOn":"2026-10-21","adv1Pages":{},"brochurePages":{}},"otherBusiness":[],"faq":[{"question":"How many clients does Millstone Financial Group Limited Liability have?","answer":"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","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"What services does Millstone Financial Group Limited Liability offer?","answer":"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","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"How much does Millstone Financial Group Limited Liability charge?","answer":"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","sourceRef":{"doc":"brochure","section":"fees"}},{"question":"Which custodians does Millstone Financial Group Limited Liability use?","answer":"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","sourceRef":{"doc":"adv1","section":"custodians"}},{"question":"How many financial advisors does Millstone Financial Group Limited Liability have?","answer":"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","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"What does Millstone Financial Group Limited Liability invest in?","answer":"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","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"Who owns Millstone Financial Group Limited Liability?","answer":"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","sourceRef":{"doc":"adv1","section":"scheduleA"}},{"question":"How does Millstone Financial Group Limited Liability get paid?","answer":"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","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"How do I contact Millstone Financial Group Limited Liability?","answer":"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.","source":"Form ADV Part 1A, Item 1.F, filed 24 June 2026","sourceRef":{"doc":"adv1","section":"offices"}}],"holdings":null,"notice":"Compiled from public SEC Form ADV filings on the dates in `sources`. Facts as filed; not a rating, ranking, or recommendation. Niva is not affiliated with this firm. Disciplinary history is deliberately not included here or on the page; the SEC publishes the complete record at the `iapdUrl` above."}