Pilot Investment Services, LLC

Pilot is a solo independent advisory firm that provides discretionary portfolio management and limited financial planning services to individuals, high-net-worth clients, trusts and estates. In addition to these retail relationships, the firm’s reporting indicates it also serves a range of institutional and corporate clients — including banks and thrift institutions, insurance companies, pension and profit-sharing plans, charitable organizations, state and municipal entities, other investment advisers, corporate clients and even a sovereign wealth fund — a client mix that is uncommon for a firm of this size.

The firm begins client relationships by developing a financial profile and an investment plan and typically implements those plans on a discretionary basis. Investment implementation uses ETFs, individual equities and fixed income, options and margin strategies, and the brochure cites fundamental, technical, charting and cyclical analysis; trading is generally executed through an institutional platform at Interactive Brokers, with written policies on trade aggregation, best execution and a Code of Ethics.

Noteworthy distinctions include a disclosed disciplinary history involving a customer complaint and subsequent settlements, as well as a FINRA settlement that resulted in a suspension, fine and restitution — disclosures that are rare among peers. The firm is also notable for combining a modest asset base and small client roster with an unusually broad set of institutional client types and active use of leverage and options, and its principal maintains outside employment as a federal revenue agent, factors that may affect risk, capacity and operational considerations for prospective clients.