Millstein Advisors, LLC

Millstein Advisors, LLC provides discretionary investment management and occasional consulting to individual clients and individual trusts with investable portfolios typically between about $100,000 and $3 million. Like many independent advisors, the firm operates on a fee‑only basis and manages diversified portfolios using ETFs, mutual funds, equities and fixed income instruments.

The firm’s core approach uses the 7Twelve® asset‑allocation framework as a foundation, tailoring allocations and periodic rebalancing to each client’s goals and risk tolerance and conducting regular reviews to confirm ongoing suitability. For risk‑tolerant clients, Millstein maintains a separate opportunistic sleeve that implements options‑based strategies — including calendar spreads, put writing and broken‑wing butterflies — with client consultation before material portfolio shifts.

What distinguishes Millstein from many peers is the active use of derivatives within separately managed accounts and a material allocation to opportunistic option strategies (several million dollars within its approximately $9.8 million in total AUM), a practice relatively uncommon among independent firms. Operational practices noted in the brochure include trade aggregation and simultaneous execution of multi‑leg trades, side‑by‑side participation with client accounts, and the use of a broker platform that supports collateral management for certain option strategies.