Wealth manager, independent · West Conshohocken, PA
Miller Investment Management, LP
SEC-registered investment adviser · CRD 108380 · SEC 801-56027
At a glance
Miller Investment Management, LP is an SEC-registered investment adviser based in West Conshohocken, Pennsylvania, with $7.1B in regulatory assets under management as of its Form ADV filed March 31, 2026. It reports 155 individual clients, 127 of them high-net-worth, holding an average of about $41 million each, and 18 employees. That ranks it 151st among the nation’s 5,657 independent wealth management RIAs and 8th of 260 in Pennsylvania. It reports 3 custodians for its clients’ separately managed accounts: J.P. Morgan, BNY Pershing and Merrill / Bank of America.
Main office 610-834-9820millerinv.comLinkedInAs filed on Form ADV
- Regulatory AUM
- $7.1B
- Rank among independent wealth managers
- #151 of 5,657
- Rank among all SEC RIAs
- #1,677 of 17,210
- Rank in Pennsylvania
- #8 of 260
- Individual clients
- 155
- High-net-worth clients
- 127
- Accounts
- 308
- Discretionary
- 25% of AUM
- Employees
- 18
- Advisory staff
- 7
- Offices
- 2
Owners and executives on its Form ADV
- Paul J. IsaacLimited Partner
- Henry S. MillerManaging Partner
- Christine M dostillioChief Compliance Officer, Chief Financial Officer
Custody and brokerage
Broker-dealer
Hybrid RIA
Miller Investment Management, LP is a hybrid RIA: 1 of its employees are also registered representatives of a broker-dealer.
Its Form ADV brochure (filed March 2026) names BA Securities as the broker-dealer its advisers are registered with.
Glickman is also a Registered representative of BA Securities LLC.
Who it serves
| Client type | Clients | Regulatory AUM | Share |
|---|---|---|---|
| High-net-worth individuals | 127 | $6.3B | 89% |
| Pooled investment vehicles | 18 | $638M | 9% |
| Charitable organizations | 10 | $159M | 2% |
| Individuals | 28 | $9M | <1% |
| Pension and profit sharing plans | – | $1M | <1% |
Private funds
Miller Investment Management, LP reports 12 private funds with $565M in gross assets: hedge funds, private equity funds, real estate funds, other private funds (Form ADV Item 7.B).
Disciplinary disclosures
Miller Investment Management, LP reports no disciplinary disclosures in Item 11 of Form ADV. Read the details on the SEC’s adviser search ↗
Services
- Financial planning
- Portfolio management for individuals and small businesses
- Portfolio management for pooled investment vehicles
- Portfolio management for businesses and institutions
- Pension consulting
- Selecting other advisers
How it’s paid
- A percentage of assets under management
- Fixed fees
- Performance-based fees
Form ADV and brochures on the SEC’s adviser search ↗millerinv.com ↗
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The full record on Miller Investment Management, LP
Ten years of SEC filings, its owners and contacts, and how it stacks up against its peers. Atlas members see all of it.
- Assets, accounts, clients and staff, ten years of filings
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- Growth over one, three and five years
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- Rank against 583 peers of its type and size
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- Owners and executives, with titles and stakes
- 3 namedLocked
- Main office, fax and compliance officer
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- Filing changes this year, with alerts
- 1Locked
Free while Atlas launches: create a free account and confirm your email. Every figure comes from SEC filings.
Similar-size RIAs in Pennsylvania
All of Pennsylvania →| Firm | Regulatory AUM | Clients |
|---|---|---|
| Wealthcare Advisory Partners LLCWest Chester | $8.3B | 10,696 |
| Confluence Financial PartnersMcMurray | $7.8B | 5,148 |
| Hbks Wealth AdvisorsErie | $7.7B | 7,344 |
| Prowell Financial Management, LLCExton | $6.9B | 57 |
| Greycourt & Co., Inc.Pittsburgh | $6.6B | 36 |
| PitcairnConshohocken | $5.9B | 330 |
Background
Questions
How much does Miller Investment Management, LP manage?
Miller Investment Management, LP reports $7.1B in regulatory assets under management across 308 accounts, 25% of it on a discretionary basis, on its Form ADV filed March 31, 2026.
How many clients does Miller Investment Management, LP have?
It reports 155 individual clients: 127 high-net-worth individuals and 28 other individuals. Individuals account for about 89% of its regulatory assets.
Where is Miller Investment Management, LP headquartered?
Its main office is in West Conshohocken, Pennsylvania. It reports 2 offices in total and 18 employees, 7 of whom perform investment advisory functions.
How does Miller Investment Management, LP charge clients?
On Form ADV it lists these forms of compensation: a percentage of assets under management; fixed fees; performance-based fees. Fees and minimums are set out in its Form ADV Part 2A brochure, available on the SEC’s adviser search.
What custodian does Miller Investment Management, LP use?
It reports 3 custodians for its clients’ separately managed accounts: J.P. Morgan, BNY Pershing and Merrill / Bank of America. On Schedule D of its Form ADV filed March 31, 2026, it reports these amounts held: J.P. Morgan ($5.2B); BNY Pershing ($624M); Merrill / Bank of America ($417M). Form ADV lists only custodians holding 10% or more of separately managed account assets.
Is Miller Investment Management, LP a hybrid RIA with a broker-dealer?
Miller Investment Management, LP is a hybrid RIA: 1 of its employees are also registered representatives of a broker-dealer. Those representatives can also earn commissions on brokerage business through the broker-dealer, where different rules apply than for advisory accounts.
Is Miller Investment Management, LP a fiduciary?
As an SEC-registered investment adviser, Miller Investment Management, LP owes its advisory clients a fiduciary duty under the Investment Advisers Act of 1940, which includes duties of care and loyalty. 1 of its employees are also registered representatives of a broker-dealer, where different rules apply to brokerage recommendations.
Where these numbers come from
Every figure is Miller Investment Management, LP’s own answer on its latest Form ADV, from the SEC’s registered-adviser list as of October 1, 2026: regulatory assets and accounts (Item 5.F), clients by type (5.D), employees (5.A and 5.B), compensation (5.E) and services (5.G). Custodians come from Schedule D 5.K(3) of its latest filing (2026-03-31), which lists those holding 10% or more of separately managed account assets and the amount at each. “Hybrid” means some employees are also registered representatives of a broker-dealer (Item 5.B(2)); affiliated broker-dealers are the related persons it lists in Item 7.A and Schedule D. Firm type comes from its own answers: broker-dealer firms are registered broker-dealers themselves (Item 6.A); private fund advisers manage mostly private funds (Item 7.B, 5.D); wealth managers manage at least half their assets for individuals (5.D). Its national rank compares it with every US-based independent wealth management RIA, the same field as The Largest RIAs. Figures are as of the firm’s last annual update, so they can lag recent deals and market moves. Regulatory AUM counts assets the firm continuously supervises and can differ from what a firm markets.
Not an endorsement or a recommendation. Before hiring any adviser, read its Form ADV Part 2A brochure and check its record on the SEC’s adviser search. How to check a financial advisor →