Millares Asset Management

Millares Asset Management is a US-based firm specializing in holistic wealth management services aimed at high-net-worth clients, prioritizing fiduciary standards and personalized financial guidance. Millares Asset Management provides wealth management services targeted towards high-net-worth individuals and families. The firm is headquartered in Coral Gables, US. In June 2026, Arax Advisory Partners acquired Millares Asset Management, with financial terms undisclosed, strengthening their position in the South Florida private wealth market.

Millares Asset Management specializes in holistic wealth management services tailored to the comprehensive financial needs of its clients. The firm offers a range of services, including wealth management, wealth enhancement, and wealth transfer. Operating on a fee-only structure, Millares ensures transparent advice based on a percentage of assets managed, mitigating conflicts of interest. Utilizing third-party custodians like Charles Schwab and Fidelity, Millares provides security for client assets.

The firm primarily serves high-net-worth individuals and families in major financial markets across the United States, including New York, California, and Florida. Millares Asset Management generates revenue via its fee-only advisory model, which is linked to a percentage of the assets under management. Clients typically enter advisory agreements outlining service scope and fees, fostering a clear understanding of the advisory relationship. This model appeals to clients seeking long-term partnerships, contributing to a steady revenue stream through ongoing asset management services.

The transparent fee structure enhances trust and facilitates enduring client relationships. Following the acquisition by Arax Advisory Partners in June 2026, Millares Asset Management aims to bolster its market presence in South Florida's private wealth sector. The strategic rationale behind this acquisition is to strengthen their foothold in the region, potentially expanding their service offerings and client base in the upcoming years.