Millennium Investment Services (Van Nuys)

Name: Millennium Investment Services
Address: 16217 Kittridge Street, Van Nuys, CA, 91406
Telephone: 818-902-5544

Millennium Investment Services is a large advisory firm based in Van Nuys. It manages $101.87 million of regulatory assets for 249 client accounts. It has been registered with the SEC as an adviser since 2002 and has operated in the jurisdictions of California, Florida, and Illinois.

Millennium Investment Services 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 business management (concierge services). It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.

Millennium Investment Services: assets under management

The assets under management (AUM) of Millennium Investment Services is $101.87 million. The firm's AUM has grown by 85% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $98.48 million in discretionary accounts and $3.39 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $480.41 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $77 thousand.

Millennium Investment Services has custody of $44.65 million in cash and securities for 51 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 78% of the total AUM. The second-largest asset type is exchange traded securities, which make up 14% of the firm’s portfolio. Investments in cash and cash equivalents form 5% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Millennium Investment Services for their services and products based on a percentage of assets under management, hourly charges, and performance-based fees. The adviser charges an additional fee when a set benchmark is outperformed. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients James Scott Walker serves?

The firm provides services to individuals, high net worth individuals, pooled investment vehicles, corporations or other businesses, and pension and profit sharing plans. The largest group of clients of James Scott Walker is high net worth individuals with 63 clients and $68.68 million of assets under management. Among the 6 most similar advisory firms, Millennium Investment Services has the 2nd lowest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $101.87 million for 148 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.

Millennium Investment Services 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 Millennium Investment Services

The company employs 3 people that are either part- or full-time employees. 33 percent of the employees work as investment advisers or researchers. Only one employee is registered as an investment adviser representative 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 doesn’t compensate employees in addition to the salary for bringing in new clients. Employees receive compensation from other entities for client referrals.

James Scott Walker has been acting as President since 1 Feb 2001. Anthony & Angela Reed Family Trust 05/30/02 joined the executive team most recently as the Owner.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
James Scott Walker	Director	1 Feb 2001	Other	4376757
Mitchell Roy Weiss	Cfo	1 Feb 2001	Other	4376758
Scott Joel Weiss	Secretary	1 Feb 2001	Other	4376759
Anthony Michael Reed	President/chief compliance officer	1 Feb 2001	75% - 100%	2532355
Louis Edward Masry	Vice-president	1 Feb 2001	Other	1886117
Anthony Michael Reed	Co trustee of the anthony & angela reed family trust dtd 5/30/02	1 May 2002	75% - 100%	2532355
Angela K Reed	Co trustee of the anthony & angela reed family trust dtd 5/30/02	1 May 2002	75% - 100%	5622873
Anthony & Angela Reed Family Trust 05/30/02	Owner	1 Dec 2015	75% - 100%	xxx-xx-xxxx

Based in Van Nuys

The principal office where Millennium Investment Services performs its advisory services is located at 16217 Kittridge Street, Van Nuys, CA 91406, which is also the mailing address of the firm. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 818-902-5544 or by fax 818-786-4271. The normal business hours are 6:30 am to 5:30 pm on Monday - Friday. You can find more information about the New York firm at minvs.com.