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Millennium Management Review

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This review was produced by SmartAsset based on publicly available information. The named firm and its financial professionals have not reviewed, approved, or endorsed this review and are not responsible for its accuracy. Review content is produced by SmartAsset independently of any business relationships that might exist between SmartAsset and the named firm and its financial professionals, and firms and financial professionals having business relationships with SmartAsset receive no special treatment or consideration in SmartAsset’s reviews. This page contains links to SmartAsset’s financial advisor matching tool, which may or may not match you with the firm mentioned in this review or its financial professionals.

Millennium is an alternative investment management firm that solely advises private investment funds. The financial advisor strives to incorporate diverse investment strategies, asset classes, industry sectors and geographies, according to its website. 

Millennium currently oversees tens of billions in assets under management (AUM). The firm has fee-only compensation arrangements, meaning it earns compensation for the services it provides, not for the products it sells. Millennium’s compensation arrangements consist of asset-based and performance-based fees. This firm has more 2,000 advisors.

Millennium Management Background

Millennium is a Delaware limited liability company that’s been in business since 1989. The firm’s main focus is investment management, and it has offices in throughout the U.S., Europe and Asia. 

Chairman and CEO Israel Englander is the firm’s principal, directly or indirectly controlling 100% of the firm. 

Millennium Management Client Types and Minimum Account Sizes

Millennium primarily serves private funds, rather than individual clients. The firm states in its firm brochure that minimum account sizes can vary, but doesn't provide specific dollar amounts.

Services Offered by Millennium Management 

Millennium specializes in discretionary investment advisory services for private funds and pooled investment vehicles. 

Millennium Management Investment Philosophy 

For its Millennium Partner funds, the firm uses investment strategies that are global in scope and broadly diversified, according to its brochure. Millennium’s four primary investment strategies include relative value fundamental equity, equity arbitrage, fixed income strategies and quantitative strategies. 

Millennium says it aims to provide the alternative investment industry’s highest returns while abiding by its core principles of integrity, discipline and excellence.

Millennium Management Fees

Millenium generally charges its investment funds asset-based fees and performance-based fees, but the firm doesn’t provide fee schedules or specific rates on its brochure. Performance-based fees are payable annually, and asset-based fees are payable quarterly in advance. 

Learn more about advisors' typical costs here.

What to Watch Out For

Millennium has six disclosures reported on its Form ADV. The majority of the disclosures are minor regulatory action violations; however, it’s important to note that the firm paid a fine of $300,000 for an alleged U.S. Securities and Exchange Commission rule violation in 2017. 

Potential investors should also note that this firm only serves private funds and pooled investment vehicles. If you’re looking for a firm that serves individual clients, our free financial advisor matching tool can help. Lastly, the use of performance-based fees can incentivize the firm to take on additional risk in an attempt to generate higher returns and more revenue. 

Opening an Account with Millennium Management

If you’re interested in investing with Millennium, you’ll have multiple options for getting in touch. You can either visit any of the firm’s locations, or you can contact the firm at (212) 841-4100.

All information is accurate as of the writing of this article.

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How Long $1mm Lasts in Retirement

SmartAsset's interactive map highlights places where $1 million will last the longest in retirement. Zoom between states and the national map to see the top spots in each region. Also, scroll over any city to learn about the cost of living in retirement for that location.

Rank City Housing Expenses Food Expenses Healthcare Expenses Utilities Expenses Transportation Expenses

Methodology We analyzed data on average expenditures for seniors, cost of living and investment returns to determine how many years of retirement a $1 million nest egg would cover in cities across America.

First, we looked at data from the Bureau of Labor Statistics (BLS) on the average annual expenditures of seniors. We then applied cost of living data from the Council for Community and Economic Research to adjust those national average spending levels based on the costs of each expense category (housing, food, healthcare, utilities, transportation and other) in each city. Using this data, SmartAsset calculated the average cost of living for retirees in the largest U.S. cities.

We assumed the $1 million would grow at a real return (interest minus inflation) of 2%. Then, we divided $1 million by the sum of each of those annual numbers to determine how long $1 million would cover retirement expenses in each of the cities in our study. Cities where $1 million lasted the longest ranked the highest in the study.

Sources: Bureau of Labor Statistics (BLS), Council for Community and Economic Research