Mcmillan Office, Inc. (St. Clair Shores)

Mcmillan Office, Inc. is a large advisory firm based in St. Clair Shores. It manages $398.28 million of regulatory assets for 382 client accounts. It has been registered with the SEC as an adviser since 2011.

Mcmillan Office provides portfolio management for individuals and small businesses. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.

Mcmillan Office: assets under management

The assets under management (AUM) of Mcmillan Office, Inc. is $398.28 million, all of which is managed in discretionary accounts. The firm's AUM has grown by 73% since the beginning of its operation, and $352.03 thousand of the total AUM is attributable to clients outside of the United States.

The firm manages $398.28 million in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $1.04 million each.

Mcmillan Office has custody of $390.13 million in cash and securities for 381 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in exchange traded securities the most. They account for 81% of the total AUM. The second-largest asset type is state and local bonds, which make up 13% of the firm’s portfolio. Investments in cash and cash equivalents form 4% of the total invested assets.

Fees & Commissions

The advisory firm has a single stream of revenue. Clients pay Mcmillan Office, Inc. for their services and products based on a percentage of assets under management. Compensation based on assets under management promotes a long-term relationship between a client and the adviser and helps align mutual interests. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Mcmillan Office serves?

The firm provides services to individuals and high net worth individuals. The largest group of clients of Mcmillan Office is high net worth individuals with 88 clients and $310.72 million of assets under management. Among the 7 most similar advisory firms, Mcmillan Office has the 2nd highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $376.83 million for 378 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. 1% of the firm’s clients are foreign persons or businesses.

Mcmillan Office doesn't advise any private funds.

Careers at Mcmillan Office, Inc.

The company employs 7 people that are either part- or full-time employees. 14 percent of the employees work as investment advisers or researchers. No employees are registered as investment adviser representatives 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 don’t receive compensation from other entities for client referrals.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Michael Backman	Chief compliance officer and president	1 Jan 2010	75% - 100%	4375783

Based in St. Clair Shores

The principal office where Mcmillan Office, Inc. performs its advisory services is located at 25875 Jefferson Avenue, St. Clair Shores, MI 48081 2316, 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 313-962-0787 or by fax 586-871-2888. The normal business hours are 8:30 to 4:30 on Monday - Friday.