DFX Intelligence
RIA Intelligence
Registered investment advisers, the advisors registered through them, the capital they report, the private vehicles they run and the people who own them, as a graph with a filing date behind every number. RAUM is what the adviser filed, a move is two registration dates, and a class is a rule you can read.
SEC-registered adviser
Milliman Advisors, LLC
Latest filing Jun 15, 2026
First filing on the tape Mar 30, 2012 · 23 filings
SEC status approved since Dec 30, 1988
RAUM
$2.3B
reported, Item 5.F
Discretionary
1.8%
of RAUM
Private clients
0.0%
$0 individuals and HNW
Advisors
0
registered through the firm on IAPD
RAUM per advisor
n/a
derived; firm RAUM over IAPD count
Employees
1
1 advisory (5.B.1)
Offices
1
beyond the principal office
Private funds
0
reported on Schedule D
History
23 filings and snapshots on the tape
RAUM$2.3B as of Jun 15, 2026
Mar 30, 2012$23B then
HNW client RAUM: no history
State-registered IARs (5.B.3)0 as of Jun 15, 2026
Apr 1, 20130 then
Employees (5.A)1 as of Jun 15, 2026
Apr 1, 20132,000 then
Private funds: no history
RAUM -8.0% over the last fiscal year-62% a year over threeIARs 0 to 0
Practice profile
derived from the filing of Jun 15, 2026; every figure names its basis
- RAUM per advisor
- unknownderivedRAUM over IAPD advisors; not a book size
- Clients per advisor
- unknownderivedindividual and HNW clients (5.D) over advisors
- Average HNW client
- unknownderivedHNW RAUM over HNW clients
- Average account
- $68.2MderivedRAUM over accounts (5.F.2.f)
- Discretionary
- 1.8%derivedof RAUM
- Institutional
- 20%derivedpensions, charities, corporations, government, insurance, banks, other advisers
- Employees per advisor
- unknownderivedItem 5.A over advisors
- Advisors per office
- unknownderived2 offices incl. principal (1.F.5)
- RAUM growth, one year
- -8.0%derivedbetween the last two annual amendments
- Advisor growth, one year
- unknownderivedItem 5.B.3 between annual amendments
- Client growth, one year
- unknownderived
- Compensation
- percentage of assets, hourly, fixed feesreportedItem 5.E
- Advisory activities
- portfolio management for businesses and institutions, pension consulting, selection of other advisers, educational seminarsreportedItem 5.G
- Ownership
- no PE, bank or public-company owner found on Schedule Aderived
- Advisor book size
- not public; not estimatedreported
Also answered yes on Form ADV
- has discretionary authority over which securities are bought or sold (8.C.1)
Where the RAUM sits
Form ADV Item 5.D, latest filing
- Corporations and businesses$1.9B80%
- State and municipal entities$238M10%
- Pension and profit-sharing plans$218M9.4%
- Individual clients
- 0reported
- HNW clients
- 0reported
- Pension plan clients
- 9reported
- Charitable clients
- n/areported
- Accounts
- 34reported
- Financial planning clients
- 0reported
- Wrap fee programs
- noreported
- Custody of client assets
- noreported
- Compensation
- % of AUM, fixed, hourlyreported
- Class basis
- private_client_share=0.0 fund_share=0.0 institutional_share=0.2 related_bd=true related_bank=true bd_reps=0.0derived
Advisors registered through the firm
0 on IAPD today, longest tenure first
No representative is registered through this CRD on IAPD.
Advisor movement
Left, latest
- Jefferson D Chalk to Cook Street Consulting, Inc.Dec 31, 2013 · Other
- Craig M Hallier to Carillon Investments, Inc.Dec 17, 2003 · Other
Joined, latest
none on the tape
Private funds
No private fund reported.
Owners and control persons
Schedule A and B, latest filing
- Helen Susan Puz · Chief Compliance Officersince 09/2014 · owns less than 5%
Entity owners
- Milliman, Inc · Ownerdirect · owns 75% or more
Related persons
Schedule D 7.A
- Milliman Financial Risk Management LLCinvestment adviserbanknRAUM $40B
- Milliman Financial Strategies Bvinvestment advisern
- Milliman Financial Strategies Ltd. (Uk)investment adviserbankn
- Milliman Pty Ltd. (Australia)investment adviserbankn
- Milliman, Inc. (Japan Branch Office)investment advisery
Advisers that list Milliman Advisors, LLC as a related person
- 159377 y
Offices
Schedule D 1.F, the 25 largest
- Albany, NY2 employees
What changed
consecutive filings, newest first
- Accounts · 39 to 34Mar 21, 2025 to Mar 31, 2026
- Advisory employees · 2 to 1Mar 21, 2025 to Mar 31, 2026
- Employees · 2 to 1Mar 21, 2025 to Mar 31, 2026
- Discretionary RAUM · $56.2M to $41.4MMar 21, 2025 to Mar 31, 2026
- Non-discretionary RAUM · $2.5B to $2.3BMar 21, 2025 to Mar 31, 2026
- Pension RAUM · $205M to $218MMar 21, 2025 to Mar 31, 2026
- RAUM · $2.5B to $2.3BMar 21, 2025 to Mar 31, 2026
- Accounts · 45 to 39Mar 22, 2024 to Mar 21, 2025
- Corporate clients · 29 to 26Mar 22, 2024 to Mar 21, 2025
- Pension plan clients · 12 to 9Mar 22, 2024 to Mar 21, 2025
- Financial planning clients · 0 to 0Mar 22, 2024 to Mar 21, 2025
- Discretionary RAUM · $56.7M to $56.2MMar 22, 2024 to Mar 21, 2025
- Non-discretionary RAUM · $2.7B to $2.5BMar 22, 2024 to Mar 21, 2025
- Pension RAUM · $420M to $205MMar 22, 2024 to Mar 21, 2025
- RAUM · $2.7B to $2.5BMar 22, 2024 to Mar 21, 2025
- Accounts · 113 to 45Mar 29, 2023 to Mar 22, 2024
- Advisory employees · 12 to 2Mar 29, 2023 to Mar 22, 2024
- Charity clients · 2.0 to unsetMar 29, 2023 to Mar 22, 2024
- Corporate clients · 83 to 29Mar 29, 2023 to Mar 22, 2024
- Pension plan clients · 17 to 12Mar 29, 2023 to Mar 22, 2024
- Employees · 12 to 2Mar 29, 2023 to Mar 22, 2024
- Other offices · 2 to 1Mar 29, 2023 to Mar 22, 2024
- Discretionary RAUM · $315M to $56.7MMar 29, 2023 to Mar 22, 2024
- Non-discretionary RAUM · $41B to $2.7BMar 29, 2023 to Mar 22, 2024
- Pension RAUM · $858M to $420MMar 29, 2023 to Mar 22, 2024
- RAUM · $41B to $2.7BMar 29, 2023 to Mar 22, 2024
- Accounts · 108 to 113Aug 4, 2022 to Mar 29, 2023
- Advisory employees · 10 to 12Aug 4, 2022 to Mar 29, 2023
- Advisory activities · 3 to 4Aug 4, 2022 to Mar 29, 2023
- Corporate clients · 77 to 83Aug 4, 2022 to Mar 29, 2023
- Pension plan clients · 18 to 17Aug 4, 2022 to Mar 29, 2023
- Employees · 10 to 12Aug 4, 2022 to Mar 29, 2023
- Discretionary RAUM · $421M to $315MAug 4, 2022 to Mar 29, 2023
- Non-discretionary RAUM · $38B to $41BAug 4, 2022 to Mar 29, 2023
- Pension RAUM · $1.1B to $858MAug 4, 2022 to Mar 29, 2023
- RAUM · $39B to $41BAug 4, 2022 to Mar 29, 2023
- Charity clients · 7 to 2Mar 24, 2022 to Aug 4, 2022
- Accounts · 125 to 108Mar 24, 2022 to Aug 4, 2022
- Advisory employees · 15 to 10Mar 24, 2022 to Aug 4, 2022
- Pension plan clients · 22 to 18Mar 24, 2022 to Aug 4, 2022
Signals
8 dated events
- Milliman Advisors, Llc reported RAUM $2.7B, down 93% from $41.2B (2023-03-29 to 2024-03-22)Mar 22, 2024 · RAUM change · derived
- Anthony Stephen White (President & Ceo) no longer on Schedule A of Milliman Advisors, Llc (listed 2021-06-25, absent 2022-03-24)Mar 24, 2022 · Control person left · inference
- Paul Kenneth Mungan (Chairman Of The Board) no longer on Schedule A of Milliman Advisors, Llc (listed 2021-06-25, absent 2022-03-24)Mar 24, 2022 · Control person left · inference
- C. Mary Clare (Chief Legal Officer) no longer on Schedule A of Milliman Advisors, Llc (listed 2021-06-25, absent 2022-03-24)Mar 24, 2022 · Control person left · inference
- Blaine James Fulton (Chief Financial Officer) no longer on Schedule A of Milliman Advisors, Llc (listed 2021-06-25, absent 2022-03-24)Mar 24, 2022 · Control person left · inference
- Steven William Pedersen (Chief Operating Officer) no longer on Schedule A of Milliman Advisors, Llc (listed 2019-03-30, absent 2020-03-27)Mar 27, 2020 · Control person left · inference
- Milliman reported succeeding to the business of Another Adviser (Form ADV Item 4)Jan 30, 2019 · Succession (Item 4) · fact
- Z. Brown Brian (Director) no longer on Schedule A of Milliman Advisors, Llc (listed 2018-03-31, absent 2019-01-30)Jan 30, 2019 · Control person left · inference
Across DFX
shared identifiers only, never a name match
No identifier-backed link to the venture, private equity, family office or sponsor graphs.
How to reach
public business contact points only, each with its source
- Website
- MILLIMAN.COMreportedpublic record, Form ADV, Sep 17, 2026
- Principal office phone
- 206-624-7940reportedpublic record, Form ADV, Jun 15, 2026
Provenance
- Form ADV
- SEC filing data 2011 to 2024 and the monthly roster 2025 onreportedadviserinfo.sec.gov
- Advisors
- IAPD individual compilation feed, dailyreportedadviserinfo.sec.gov
- Class
- Other adviserderiveda rule over Items 5.D and 7.A
- RAUM per advisor
- n/aderivedfirm RAUM over the IAPD count; not a book size
- Loaded
- Sep 14, 2026