Investment adviser teaches ‘motivesting’
December 12, 2017
A key to starting a business is recognizing an unfilled need and filling it.
For investment adviser David Millar, founder of Motivesting LLC, that began with a plan to work with young professionals to help them chart a path to wealth. But after consulting with a professional coach in Dallas, Millar changed directions to consult for families with gas and oil royalties.
"Nobody is specializing in transfer (of oil and gas royalties) in Northern Nevada," he told the NNBW.
A few years ago, Millar began guiding a family through the maze of transferring gas and oil royalties to a new generation following the death of the original holder. Such a transfer requires research into historical records to document ownership. It took a couple years to maneuver through all the details and determine the rather large tax bill they would face.
"I offered to guide them through the process. They were very patient," Millar said.
"This is a whole different side of (investing)."
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Following that one request for help in that niche investment category, Millar's professional coach encouraged him to expand on what he had already started and specialize in oil and gas royalties rather than just young professionals.
Royalties is a complicated niche that fit Millar's background.
"I love problem solving. I was the type that was assigned (at other companies) the most gnarly, risky projects — the gnarlier the better," he said.
Millar's background includes 10 years consulting for Fortune 100 companies in technology, business and financial operations. He has a bachelor's degree and MBA from the University of Phoenix.
He is certified by the Project Management Institute as a Project Management Professional (PMP) and holds a Series 65 license covering laws, regulations, ethics and retirement planning, portfolio management strategies and fiduciary responsibilities. He's registered in Nevada and has the background to advise high-net-worth individuals.
Millar continues to work with young professionals as a member of XY Planning Network, specializing in financial issues challenging America's younger generations.
"I'm good at financial analysis and problem solving," he stated regarding why he likes helping others with long-term investing goals.
Another characteristic of Motivesting that sets it apart is the way Millar earns his funds. He practices as a "fiduciary," which operates differently that most investment companies.
"I do not work on commission," he explained. His fee is hourly based, or defined in other ways such as a flat rate for a specific service.
A fiduciary has a legal duty to act on behalf of the client.
On the other hand, those working on commission are partly paid by other sources when they sell that company's product (such as insurance) and are only held to a "suitability standard."
Fee-based, fiduciary services mean the adviser can focus solely on the needs of the client.
"That doesn't mean I won't discuss insurance," Millar said. "I provide an unbiased analysis but won't sell it. I help them figure it out."
For more information on Motivesting, go to motivesting.com.