Our company

MillenniuM Investment and Retirement Advisors, LLC (“MillenniuM”) is an unaffiliated ERISA defined independent fiduciary to 401(k) and other defined contribution plans. ERISA takes state trust law to the highest level--from “prudent man” to “prudent expert” standards.

Unless fiduciaries possess the necessary expertise to manage investments, they would need to obtain advice of qualified, independent experts.

U.S. Department of Labor Regulations § 2509.95-1(C)(6)

1Our core principles...
  • We consider ourselves fiduciaries to our clients and we will act only in our client's best interest.
  • Corporate and Creative
  • A simple investment plan is better than a complicated investment plan.
  • Low fee investments are better for your portfolio’s health over the long term than high fee investments.
  • Portfolio diversification is important and the specific asset mix within the portfolio is the primary controller of how well a portfolio performs.
  • With regard to managed investment products like mutual funds, we believe (and the research shows) that very few funds outperform the appropriate index over time.
2 How would you determine if we are “qualified experts?”
  • As Enrolled Agents & CPAs, we talk directly to and represent CFOs to the IRS and Labor Department during investigations and examinations.
  • Upon request, we are responsible for reviewing, signing and filing IRS Forms 5500s.
  • Unlike almost all brokers and advisors who are “self-regulated” under FINRA, we are regulated Federally (by the SEC) and licensed, bonded and insured.
  • Very uniquely, we are paid equally by each participant (NOT on size of accounts).
  • We waive our fee if investments are NOT in the top quartile (25%).
  • Our attorneys, IRS Enrolled Agents & CPAs ensure plan compliance by performing three (3) critical Cost, Conflict or Compliance tasks monthly.
3What Sets Us Apart?
Setting MillenniuM apart, we immediately provide a new Fiduciary Manual and cloud copy in ShareFile.com to protect everyone in case of investigation by IRS/DOL. Second, although all ERISA firms are “boutique” by their nature, according to the Advisor Fee Almanac (AFA), MillenniuM is larger in staff size than 85% of other firms while being federally regulated/licensed, bonded by Philadelphia and insured by CNA (per AFA, 55% of firms have between 1 and 3 retirement plan specialists; “if E&O insurance and ERISA bonding were subject to meaningful due diligence, more than 50% of all advisors would be replaced or required to improve their coverage”). Bert Carmody and Rick Canipe previously administered large plans such as Papa Johns, Wendy’s International and Krispy Kreme. Knowledge of IRS and DOL formal correction programs is essential to keeping clients compliant.