Born October 12, 1950, Milton is a native of Lake Charles, Louisiana. After graduation from Baylor University with a Bachelor of Business Administration degree in 1972, he was employed by Arthur Andersen & Company. During the two years of employment with Arthur Andersen & Co., Milton received his Certified Public Account (CPA) designation.
In 1974, Milton was employed by Magnolia Life Insurance Company. During his employment as Vice President and Treasurer, Milton gained valuable insight into the financial services industry. Areas of particular importance to the financial services industry are: investment planning, personal, corporate income and estate tax planning, employee retirement plan trustee, supervision of multiple company financial statement preparation, life and health insurance product development and pricing (including a universal life insurance policy), and life and health insurance sales.
After leaving the employment of Magnolia Life Insurance Company in 1985, Milton began to serve as investment advisor to Hixson Turner & Co., an investment partnership in which Milton was also a partner. He received the Certified Financial Planner™(CFP®) designation from the International Board of Standards and Practices forCertified Financial Planners on July 15, 1987.
In October of 1987, Milton expanded his investment advisor services to the general public by forming FMP Wealth Advisers as one of the pioneer fee only financial planning registered investment advisor corporations. Today FMP is owned, managed and controlled by its employees. This type of business model has allowed it to create a close-knit team of advisers, specialists and service professionals dedicated to placing the needs of its clients first.
In 1992, Milton was appointed by Tom Phillips, Chief Justice of the Texas Supreme Court, to the six-member Texas Employment Retirement System Board of Trustees (ERS). ERS, one of the most important boards in state government, manages the $20 billion state employee retirement fund as well as designs and manages all state employee medical, disability, and health insurance. Milton served three terms as Chairman of the Board of Trustees beginning September 1, 1995 through August 31, 1996, and two consecutive terms from September 1, 2002 through August 31, 2004. After completing a second term in 2005, Milton was elected to the ERS Investment Advisory Committee and served on the committee from 2006 – 2011.
Starting in July 2011 Milton began the first of three terms on the Board of Regents for Baylor University. His service on the Board of Regents will end in May 2020. During these years he has served on the Audit Committee, Finance Committee, Student Life Committee, Academic Committee and the Baylor University Endowment Investment Committee.
Milton, his wife Debbie, and their three children have lived in Austin, Texas since 1986. Les Hixson is the Director of Investments & Research with FMP and lives in Austin with his wife, daughter and son. Jana Hixson is the District Director for US Congressman Bill Flores in Waco, Texas; Justin Hixson works as a Property Manager for Transwestern in Commercial Real Estate and lives in Houston, Texas with his wife and daughter. Milton and Debbie are members of Austin Baptist Church founded in 2007. Milton serves as a Charter Member, Deacon and is a volunteer leader in Bible Fellowship for the church.