Mill Creek Capital Advisors, LLC (Conshohocken)


Mill Creek Capital Advisors, LLC is a large advisory firm based in Conshohocken. It manages $5.62 billion of regulatory assets for 337 client accounts. It has been registered with the SEC as an adviser since 2006 and has operated in the jurisdictions of California, Connecticut, Delaware, and 8 other states.

Mill Creek Capital Advisors 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 selection of other advisers. It prepares financial plans for more than 25 clients. On top of advisory services, the firm doesn't engage in other business activities.

Mill Creek Capital Advisors: assets under management

The assets under management (AUM) of Mill Creek Capital Advisors, LLC is $5.62 billion. The firm's AUM has grown by 1288% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $5.08 billion in discretionary accounts and $539.73 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $15.55 million each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $53.97 million.
Mill Creek Capital Advisors has custody of $345.37 million in cash and securities for 125 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in exchange traded securities the most. They account for 41% of the total AUM. The second-largest asset type is investment and business development companies, which make up 16% of the firm’s portfolio. Investments in state and local bonds form 14% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Mill Creek Capital Advisors, LLC for their services and products based on a percentage of assets under management and fixed fees. Flat-fee based compensation is the most transparent and the one you can safely predict in advance. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Joshua Stirling Gross serves?

The firm provides services to charitable organizations, high net worth individuals, pooled investment vehicles, corporations or other businesses, and pension and profit sharing plans. The largest group of clients of Joshua Stirling Gross is high net worth individuals with 256 clients and $2.86 billion of assets under management. Among the 8 most similar advisory firms, Mill Creek Capital Advisors has the highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $5.62 billion for 327 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.

Mill Creek Capital Advisors also advises several private funds. Namely, one other private fund and two private equity funds. The minimum investment commitment required of non-related persons is $100,000 for each fund.

Careers at Mill Creek Capital Advisors, LLC

The company employs 29 people that are either part- or full-time employees. 72 percent of the employees work as investment advisers or researchers. 20 employees are registered as investment adviser representatives with the state securities authorities.

There’s a single person with the role of looking for and bringing in new clients on behalf of the firm. The firm compensates employees in addition to the salary for bringing in new clients. Employees don’t receive compensation from other entities for client referrals.

Mill Creek Capital Advisors, LLC is owned by Barbara Jordan. Joshua Stirling Gross has been acting as President since 1 Sep 2006. Thomas Mitchell Chapin has served as the Chief Investment Officer since 1 Sep 2006 and Richard Walter Stevens is the Chief Executive Officer of Mill Creek Capital Advisors, LLC family office. Richard Marsh Lunsford joined the executive team most recently as the President And Chief Financial Officer.

Direct owners and executive officers


Name Entity Date acquired Ownership Employer ID
Richard Walter Stevens Chief executive officer 1 Jun 2006 Other 2600585
David J. Place Chief compliance officer 1 Jul 2006 Other 5210866
Joshua Stirling Gross President 1 Sep 2006 Other 4530225
Thomas Mitchell Chapin Chief investment officer 1 Sep 2006 Other 1411830
Richard Marsh Lunsford Chief operating officer 1 Sep 2006 Other 3270507
David James Logan Principal & investment officer 1 Sep 2006 Other 3046639
Llc Sg Management Owner 1 Sep 2006 75% - 100% 43-2114707
The Lewis Katz Irrev. Trust F/B/O Drew Katz Dtd 6 6 2002 Owner 1 Sep 2006 Other 25-6815269
The Lewis Katz Irrev. Trust F/B/O Melissa Silver Dtd 6 6 2002 Owner 1 Sep 2006 Other 25-6815270
Michael H Jordan Principal & investment officer 1 Nov 2006 Other 2289638
Barbara Jordan Owner 1 Jan 2007 Other 5310626
Joan Leslie Straus Chief compliance officer 1 Feb 2010 Other 2220952
Brian Francis Mcnally Chief compliance officer 1 Jun 2015 Other 4581009
Richard Walter Stevens Executive chairman 1 Jan 2018 Other 2600585
Joshua Stirling Gross Chief executive officer 1 Jan 2018 Other 4530225
Richard Marsh Lunsford President and chief financial officer 1 Jan 2018 Other 3270507

Indirect Owners

The SEC currently registers 4 indirect owners.

Name Entity Date acquired Ownership Employer ID
Anuj J (Mi Only) Agarwal Trustee 1 Jun 2002 Other 2289818
Drew Katz Trustee 1 Jun 2002 Other 5261200
Melissa Silver Trustee 1 Jun 2002 Other 5261201
Richard Walter Stevens Member 1 Sep 2006 Other 2600585

Based in Conshohocken

The principal office where Mill Creek Capital Advisors, LLC performs its advisory services is located at 161 Washington Street, Conshohocken, PA 19428, which is also the mailing address of the firm. An additional office of the firm is in Naples, FL. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 610-941-7700 or by fax 610-941-9792. The normal business hours are 8 a.m. to 6 p.m. on Monday - Friday. You can find more information about the New York firm at millcreekcap.com.