- Important Disclosure Information
- Form CRS
Park, Miller, LLC (“Park, Miller”) is an SEC registered investment adviser located in Walnut Creek, California. Park, Miller and its representatives are in compliance with the current filing requirements imposed upon SEC registered investment advisers by those states in which Park, Miller maintains clients. Park, Miller may only transact business in those states in which it is registered, or qualifies for an exemption or exclusion from registration requirements. Park, Miller's web site is limited to the dissemination of general information pertaining to its advisory services, together with access to additional investment-related information, publications, and links. Accordingly, the publication of Park, Miller’s web site on the Internet should not be construed by any consumer and/or prospective client as Park, Miller’s solicitation to effect, or attempt to effect transactions in securities, or the rendering of personalized investment advice for compensation, over the Internet. Any subsequent, direct communication by Park, Miller with a prospective client shall be conducted by a representative that is either registered or qualifies for an exemption or exclusion from registration in the state where the prospective client resides. For information pertaining to the registration status of Park, Miller, please contact the SEC or the state securities regulators for those states in which Park, Miller maintains a notice filing. A copy of Park, Miller’s current written disclosure statement discussing Park, Miller’s business operations, services, and fees is available from Park, Miller upon written request. Park, Miller does not make any representations or warranties as to the accuracy, timeliness, suitability, completeness, or relevance of any information prepared by any unaffiliated third party, whether linked to Park, Miller web site or incorporated herein, and takes no responsibility therefor. All such information is provided solely for convenience purposes only and all users thereof should be guided accordingly.
Please remember that different types of investments involve varying degrees of risk, and there can be no assurance that the future performance of any specific investment or investment strategy (including those undertaken or recommended by Park, Miller), will be profitable or equal any historical performance level(s).
Certain portions of Park, Miller’ s web site (i.e. newsletters, articles, commentaries, etc.) may contain a discussion of, and/or provide access to, Park, Miller (and those of other investment and non-investment professionals) positions and/or recommendations as of a specific prior date. Due to various factors, including changing market conditions, such discussion may no longer be reflective of current position(s) and/or recommendation(s). Moreover, no client or prospective client should assume that any such discussion serves as the receipt of, or a substitute for, personalized advice from Park, Miller, or from any other investment professional. Park, Miller is neither an attorney nor an accountant, and no portion of the web site content should be interpreted as legal, accounting or tax advice.
Rankings and/or recognition by unaffiliated rating services and/or publications should not be construed by a client or prospective client as a guarantee that he/she will experience a certain level of results if Park, Miller is engaged, or continues to be engaged, to provide investment advisory services, nor should it be construed as a current or past endorsement of Park, Miller by any of its clients. Rankings published by magazines, and others, generally base their selections exclusively on information prepared and/or submitted by the recognized adviser.
To the extent that any client or prospective client utilizes any economic calculator or similar interactive device contained within or linked to Park, Miller’s web site, the client and/or prospective client acknowledges and understands that the information resulting from the use of any such calculator/device, is not, and should not be construed, in any manner whatsoever, as the receipt of, or a substitute for, personalized individual advice from Park, Miller, or from any other investment professional.
Each client and prospective client agrees, as a condition precedent to his/her/its access to Park, Miller’s web site, to release and hold harmless Park, Miller, its officers, directors, owners, employees and agents from any and all adverse consequences resulting from any of his/her/its actions and/or omissions which are independent of his/her/its receipt of personalized individual advice from Park, Miller.
Park, Miller, LLC (“we”, “our”, or “us”) is registered with the U.S. Securities and Exchange Commission (“SEC”) as an investment adviser. Our services and compensation structure differs from that of a registered broker-dealer. Free and simple tools are available to research firms and financial professionals at www.investor.gov/CRS. The site also provides educational materials about broker-dealers, investment advisers, and investing. Information in text boxes below is intended to be conversation starters for you to have with us and are required by the instructions to Form CRS.
What investment services and advice can you provide to me?
We provide discretionary investment advisory services to individuals and their trusts and estates (our “retail investors”). To the extent requested, we may provide financial planning and consulting services.
We first determine your investment objective, and then invest or recommend that you invest your assets according to your investment objectives. Once invested, we monitor and review your account performance and asset allocation, and may rebalance or recommend that you rebalance as necessary based on these reviews.
We provide our services on a discretionary basis, which means we have the authority to buy and sell investments in your account without speaking to you prior to doing so. You can place reasonable restrictions on the securities and types of securities that we buy by notifying us, in writing.
We do not limit the scope of the universe of securities that we use in managing client accounts, although we generally invest in mutual funds, exchange-traded funds, and bond funds. We also recommend investments in or through independent managers.
We do not have any specific minimum account size or minimum fee, but we reserve the right to accept a client. For more detailed information about our Advisory Business and the Types of Clients we generally service, please See Items 4 and 7, respectively in our Form ADV Part 2A.
Given my financial situation, should I choose an investment advisory service? Why or why not?
How will you choose investments to recommend to me?
What is your relevant experience, including your licenses, education, and other qualifications? What do these qualifications mean?
What fees will I pay?
Our fee is based on a percentage of your assets under our management, begins at the annual rate of 1.00%, and decreases the more assets that you entrust to our management. We deduct our fee from one or more of your investment accounts on a quarterly basis, in advance, based upon the market value of assets on the last business day of the previous quarter. Because our fee is based on the amount of your assets under our management, the more assets you entrust us to manage, the more you will pay us for our services. Therefore, we have an incentive to encourage you to increase the amount of assets that you entrust to us.
Your account will be held with a qualified custodian. Custodians generally charge transaction fees for effecting certain securities transactions. In addition, your assets can be invested in mutual funds and ETFs and through independent managers. You will bear your pro-rata share of the investment management fees and other fees of the funds and other managers, which are in addition to the fees you pay us. These fees and expenses are described in each fund’s prospectus or other offering documents and potentially include a management fee, distribution fee, and other fund expenses. You will pay fees and costs whether you make or lose money on your investments. Fees and costs will reduce any amount of money you make on your investments over time. Please make sure you understand what fees and costs you are paying.
Help me understand how these fees and costs might affect my investments. If I give you ,000 to invest, how much will go to fees and costs, and how much will be invested for me?
For more detailed information about our fees and costs related to our management of your account, please See Item 5 in our Form ADV Part 2A.
A copy of our Part 2A is available at:
What are your legal obligations to me when acting as my investment adviser? How else does your firm make money and what conflicts of interest do you have?
When we act as your investment adviser, we have to act in your best interest and not put our interest ahead of yours. At the same time, the way we make money creates some conflicts with your interests. You should understand and ask us about these conflicts because they can affect the investment advice we provide you. Here are some examples to help you understand what this means:
We may recommend a particular custodian from whom we receive support services. This presents a conflict of interest, because our receipt of their support make us more inclined to continue using and recommending them.
We manage an affiliated private investment fund, which is closed to new investors. We do not currently receive an investment management fee from the fund and we have waived our investment advisory fee for assets invested in the fund, although we stand to earn a carried interest.
We may recommend rollovers out of employer-sponsored retirement plans and into Individual Retirement Accounts that we manage for an asset-based fee. If we don’t currently manage your account held with your employer’s plan, this will increase our compensation.
How might your conflicts of interest affect me, and how will you address them?
For more detailed information about our conflicts of interest, please review Item 4, 11 and 12 of our Form ADV Part 2A.
How do your financial professionals make money?
Our financial professionals are generally compensated on a salary basis and may receive discretionary bonuses. In the event an employee earns a bonus, they are based on various factors. In addition, two of our financial professionals are equity owners of the firm and stand to receive a share of the profits of the firm.
Do you or your financial professionals have legal or disciplinary history?
Yes. We encourage you to visit www.Investor.gov/CRS to research our firm and our financial professionals. Furthermore, we encourage you to ask your financial professional:
As a financial professional, do you have any disciplinary history? If so, for what type of conduct?
Additional information about our firm is available on the SEC’s website at www.adviserinfo.sec.gov. You may contact our Chief Compliance Officer at any time to request a current copy of your Form ADV Part 2A or our relationship summary. Our Chief Compliance Officer may be reached by phone at (925) 974-3324.
Who is my primary contact person? Is he or she a representative of an investment adviser or broker-dealer? Who can I talk to if I have concerns about how this person is treating me?
June 30, 2020