Founded in 2000, Millennium Trust Company is a financial services company that has grown to become one of the leading providers of alternative asset custody solutions. Headquartered in Oak Brook, Illinois, the company boasts over 500,000 client accounts and offers a wide range of investment options including private equity, hedge funds, and real estate.
In 2018, Millennium Trust Company was acquired by Parthenon Capital Partners, a private equity firm based in Boston. This acquisition has allowed Millennium Trust Company to expand its offerings and continue to grow its business. With this partnership, clients can expect even more investment opportunities and enhanced services from the company.
At Millennium Trust Company, clients have access to an experienced team of professionals who are dedicated to providing personalized service and support. The company’s commitment to excellence is evident in their innovative technology solutions that make it easy for clients to manage their investments online.
With Parthenon Capital Partners’ backing, Millennium Trust Company is well-positioned for continued success in the years ahead. Whether you’re looking for alternative investment options or simply need help managing your assets, Millennium Trust Company is a name you can trust.
So if you’re ready to take control of your financial future with the help of experts who know what it takes to succeed in today’s market, look no further than Millennium Trust Company. Contact them today to learn more about their services and how they can help you achieve your goals.
General Information and Timeline of Millennium Trust Company
Awards and Recognitions
Millennium Trust Company is a leading provider of alternative asset custody solutions for individuals, advisors, and institutions. Over the years, the company has earned numerous awards and recognitions for its exceptional services and innovative solutions.
In 2019, Millennium Trust Company was named one of the Best Places to Work in Illinois by Crain’s Chicago Business. The award recognizes companies that have created outstanding workplaces through employee engagement, leadership development, and other initiatives.
In 2020, Millennium Trust Company was recognized as one of the Top 100 WealthTech Companies by FinTech Global. The list recognizes companies that are transforming the wealth management industry through technology innovation.
IRA Custody Solutions
Millennium Trust Company offers IRA custody solutions for individuals who want to invest in alternative assets such as real estate, private equity, and hedge funds. With an IRA custodial account at Millennium Trust Company, investors can diversify their retirement portfolios beyond traditional stocks and bonds.
One of the benefits of having an IRA custodial account at Millennium Trust Company is access to a wide range of investment options. Investors can choose from over 20 different types of alternative assets to include in their portfolios.
Another benefit is flexibility. Investors can manage their accounts online or through a mobile app. They can also choose between self-directed or managed accounts depending on their investment preferences.
Alternative Asset Custody Solutions
Millennium Trust Company also offers alternative asset custody solutions for advisors and institutions who want to provide their clients with access to non-traditional investments. With an alternative asset custody account at Millennium Trust Company, advisors and institutions can offer their clients a wider range of investment options while maintaining control over client assets.
One advantage of using Millennium Trust Company as an alternative asset custodian is expertise. The company has extensive experience in handling complex assets such as private equity funds, hedge funds, and real estate investments.
Another advantage is transparency. Advisors and institutions can access real-time account information and reporting through an online portal. They can also customize their reporting to meet their specific needs.
Cash Management Solutions
Millennium Trust Company also offers cash management solutions for individuals, advisors, and institutions. With a cash management account at Millennium Trust Company, investors can earn competitive interest rates on their cash balances while maintaining liquidity.
One benefit of using Millennium Trust Company as a cash manager is convenience. Investors can manage all of their investment accounts in one place, including their IRA custodial accounts and alternative asset custody accounts.
Another benefit is security. Millennium Trust Company is a regulated financial institution with strong risk management practices in place to protect client assets.
Millennium Trust Company: Overview and History
Self-Directed IRAs and 401(k) Rollovers
Millennium Trust Company offers self-directed individual retirement accounts (IRAs) and 401(k) rollovers to its clients. These investment vehicles allow individuals to invest in alternative assets such as private equity, real estate, and hedge funds. Self-directed IRAs offer a level of flexibility that traditional IRAs do not provide. With a self-directed IRA, investors can choose from a wide range of investment options, including real estate, precious metals, and private placements.
One advantage of opening a self-directed IRA with Millennium Trust Company is the ability to diversify your portfolio beyond stocks and bonds. By investing in alternative assets, investors can potentially earn higher returns than they would with traditional investments. However, it’s important to note that investing in alternative assets also carries more risk than traditional investments.
401(k) rollovers are another service offered by Millennium Trust Company. If you leave your job or retire, you may have the option to roll over your 401(k) into an IRA. This can be a smart move for many reasons. For one thing, it gives you more control over your retirement savings. You can choose from a wider range of investment options and potentially earn higher returns than you would with a traditional 401(k).
Alternative Asset Custody Solutions
In addition to self-directed IRAs and 401(k) rollovers, Millennium Trust Company also provides custody solutions for alternative assets such as private equity, real estate, and hedge funds. As an alternative asset custodian, Millennium Trust Company holds these assets on behalf of its clients.
One benefit of using an alternative asset custodian like Millennium Trust Company is that it helps ensure compliance with IRS regulations regarding self-directed IRAs. The IRS requires that certain rules be followed when investing in alternative assets through a gold IRA or other tax-advantaged account.
Another benefit of using an alternative asset custodian is that it provides a layer of security for your investments. By holding your assets in custody, Millennium Trust Company helps protect them from fraud and theft.
Acquisitions and Funding
According to Pitchbook, Millennium Trust Co. has raised over $10 million in funding and has completed several acquisitions to expand its services. In 2018, the company acquired The Bancorp Bank’s IRA custodial business. This acquisition allowed Millennium Trust Company to expand its self-directed IRA offerings.
In 2020, Millennium Trust Company acquired InspiraFS, a technology company that provides retirement plan administration solutions. This acquisition allowed Millennium Trust Company to offer more streamlined retirement plan administration services to its clients.
Services Offered by Millennium Trust Company
Self-Directed IRA: Invest in Alternative Assets
Are you tired of being limited to traditional investment options like stocks and bonds? Millennium Trust Company offers a Self-Directed IRA that allows individuals to invest in alternative assets such as real estate, private equity, and precious metals. With this option, you have the freedom to choose your investments and take control of your retirement savings.
Investing in alternative assets can provide diversification benefits and potentially higher returns than traditional investments. For example, investing in real estate through a Self-Directed IRA can provide rental income and appreciation potential. Private equity investments can offer access to high-growth companies that are not publicly traded. Precious metals can act as a hedge against inflation and currency fluctuations.
Millennium Trust Company’s Self-Directed IRA provides a simple process for investing in these alternative assets. You can open an account online or by mail, fund your account with cash or rollover funds from an existing retirement account, and then start investing in the assets of your choice.
Alternative Investment Solutions: Custody for Diverse Investments
Do you have investments outside of traditional stocks and bonds? Millennium Trust Company provides custody solutions for a wide range of alternative investments, including private funds, hedge funds, and crowdfunding offerings. This means that Millennium Trust Company holds the assets on behalf of the investor and handles all administrative tasks related to those assets.
By using Millennium Trust Company’s custody services for alternative investments, investors can benefit from increased transparency and security. The company performs due diligence on each investment opportunity before accepting it into custody. They monitor the investment on an ongoing basis to ensure compliance with regulations.
Automatic Rollover Solutions: Simplify Retirement Account Management
Have you left a job but still have retirement accounts sitting with your former employer? Millennium Trust Company offers automatic rollover solutions for retirement accounts that are left behind by employees after they leave their jobs. This service simplifies account management by consolidating multiple accounts into one and allows investors to continue to benefit from tax-deferred growth.
The process is simple: Millennium Trust Company contacts the employer and requests a rollover of the account balance. Once the funds are received, they are invested in a money market fund until the investor decides on their investment strategy.
Health Savings Accounts (HSAs): Save for Healthcare Expenses
Are you looking for a way to save for healthcare expenses while also investing in your future? Millennium Trust Company provides HSA solutions that allow individuals to save for healthcare expenses and invest in a range of investment options. HSAs offer triple tax benefits: contributions are tax-deductible, earnings grow tax-free, and withdrawals for qualified medical expenses are tax-free.
Millennium Trust Company’s HSA solution offers low fees and a wide range of investment options, including mutual funds, ETFs, and individual stocks. The company also provides an online portal where investors can manage their account and track their investments.
Escrow Services: Secure Transactions
Are you involved in a transaction that requires secure handling of funds or assets? Millennium Trust Company offers escrow services for a variety of transactions, including mergers and acquisitions, real estate transactions, and bankruptcy proceedings. Escrow services provide security by holding funds or assets until all conditions of the transaction have been met.
Millennium Trust Company’s escrow services include customizable agreements based on the specific needs of each transaction. The company also performs due diligence on all parties involved in the transaction to ensure compliance with regulations.
Advantages of Working with Millennium Trust Company
Wide range of investment options
Investing can be a daunting task, especially when you’re not sure where to start. That’s why working with Millennium Trust Company can be advantageous. They offer a wide range of investment options that cater to different types of investors. Whether you’re looking to invest in alternative assets such as real estate or private equity, or traditional assets like stocks and bonds, they have got you covered.
One of the benefits of having access to a variety of investment options is diversification. By spreading your investments across different asset classes, you can reduce the risk of losing all your money if one asset class underperforms. This is important because it helps protect your portfolio against market volatility.
Another advantage of working with Millennium Trust Company is their expertise in handling alternative assets. Investing in alternatives can be complex and requires specialized knowledge and experience. With over a decade’s worth of experience in this area, they are well-equipped to help guide you through the process.
Robust online platform for easy account management
Managing your investments should not be complicated or time-consuming. That’s why Millennium Trust Company has developed an online platform that makes it easy for clients to manage their accounts from anywhere at any time.
Their platform allows you to view your account balances, transaction history, and performance reports all in one place. You can also make contributions and withdrawals, update personal information, and access educational resources on investing.
Their platform is user-friendly and intuitive, making it easy for even novice investors to navigate. This means that you don’t need to have advanced technical skills or spend hours learning how to use the platform before getting started.
Competitive fees and pricing
Fees are an important consideration when choosing an investment provider because they can eat into your returns over time. Fortunately, Millennium Trust Company offers competitive fees and pricing that are transparent and straightforward.
They charge a flat fee per transaction rather than a percentage-based fee on assets under management. This means that you only pay for the services you use, and there are no hidden fees or surprises.
Their fees are competitive compared to other investment providers in the industry. This is important because it helps ensure that you’re getting value for your money and not overpaying for services.
Experienced and knowledgeable team of professionals
Investing can be complex, and it’s essential to have a team of experienced professionals on your side who can help guide you through the process. Millennium Trust Company has a team of experts who are well-versed in different aspects of investing.
Their team includes certified financial planners, attorneys, accountants, and investment specialists who work together to provide clients with personalized advice tailored to their unique needs. They also stay up-to-date with the latest trends and developments in the industry to ensure that they’re providing clients with the best possible service.
Strong commitment to security and compliance
Security should be a top priority. Millennium Trust Company takes this seriously by implementing robust security measures designed to protect client data and assets.
They use state-of-the-art encryption technology to safeguard sensitive information such as social security numbers and bank account details. They have strict internal controls in place that prevent unauthorized access or tampering with client accounts.
Furthermore, they adhere to all relevant regulatory requirements set forth by government agencies such as the Securities and Exchange Commission (SEC) and Financial Industry Regulatory Authority (FINRA). This ensures that they operate within legal boundaries while providing clients with peace of mind knowing that their investments are being managed ethically and responsibly.
Clients of Millennium Trust Company: Who They Are
Individuals: Seeking Alternative Investment Options
Millennium Trust Company caters to a diverse range of clients, including individuals who are looking for alternative investment options beyond traditional stocks and bonds. These investors are typically interested in self-directed IRA accounts, which allow them to invest in non-traditional assets such as real estate, private equity, and cryptocurrency.
One of the primary reasons why individuals choose to invest with Millennium Trust Company is because they want more control over their investments. Self-directed IRAs give investors the ability to make their own investment decisions and diversify their portfolios with assets that may not be available through traditional brokerage firms.
For example, an individual investor might use a self-directed IRA to invest in a rental property or a startup company. By doing so, they can potentially earn higher returns than they would with traditional investments while also gaining exposure to new asset classes.
Financial Advisors: Providing Customized Solutions for Clients
In addition to serving individual investors, Millennium Trust Company also works closely with financial advisors who are looking for customized solutions for their clients. Financial advisors often turn to Millennium Trust Company when their clients express interest in alternative investments or need help managing complex retirement plans.
One of the key benefits of working with Millennium Trust Company is that financial advisors can maintain control over their client relationships while still accessing the company’s expertise and resources. This allows them to provide comprehensive wealth management services that go beyond traditional investment strategies.
For example, a financial advisor might work with Millennium Trust Company to set up a self-directed IRA for a client who wants to invest in real estate. The advisor can then continue managing the client’s overall portfolio while also providing guidance on how best to allocate funds within the self-directed IRA.
Institutions: Accessing Unique Investment Opportunities
Millennium Trust Company also serves institutional clients such as hedge funds, private equity firms, and family offices. These institutions often seek out Millennium Trust Company’s services because they want access to unique investment opportunities that may not be available through traditional channels.
One of the key advantages of working with Millennium Trust Company is that these institutions can leverage the company’s expertise in alternative investments to identify new opportunities and manage risk. Millennium Trust Company’s technology platform makes it easy for institutions to manage complex portfolios across multiple asset classes.
For example, a private equity firm might work with Millennium Trust Company to set up a self-directed IRA for one of its portfolio companies. This would allow the company’s employees to invest in the fund using their retirement savings while also providing the private equity firm with access to additional capital.
Retirement Plan Sponsors: Streamlining Administration and Compliance
Finally, Millennium Trust Company serves retirement plan sponsors who are looking for ways to streamline administration and compliance. These sponsors often turn to Millennium Trust Company when they need help managing complex plans such as 401(k)s or defined benefit pensions.
One of the key benefits of working with Millennium Trust Company is that plan sponsors can outsource many administrative tasks such as recordkeeping, reporting, and compliance testing. This allows them to focus on other aspects of their business while still ensuring that their retirement plans are being managed effectively.
For example, a small business owner might work with Millennium Trust Company to set up a self-directed IRA option within their company’s 401(k) plan. This would allow employees to invest in non-traditional assets while also streamlining plan administration and compliance.
Security and Regulations of Millennium Trust Company
Regulations and Security Measures of Millennium Trust Company
Regulation is an essential aspect of any financial institution, and Millennium Trust Company is no exception. The company operates under the supervision of the Illinois Department of Financial and Professional Regulation (IDFPR). This regulatory body ensures that Millennium Trust Company adheres to state laws and regulations, providing clients with a secure and trustworthy environment for their investments.
The IDFPR conducts regular audits to ensure that Millennium Trust Company is in compliance with state regulations. The company’s adherence to these regulations provides clients with peace of mind knowing that their assets are being held by a reputable organization. It demonstrates the company’s commitment to transparency and accountability.
Security measures are another critical aspect of any financial institution, especially one that deals with sensitive information such as client assets. Millennium Trust Company has implemented several security measures to protect its clients’ data from unauthorized access or theft.
Multi-factor authentication is one such measure used by the company. This process requires users to provide two or more forms of identification before accessing their accounts. By doing so, it reduces the risk of unauthorized access even if someone gains access to a user’s password.
Encryption is another security measure used by Millennium Trust Company. Encryption involves converting data into an unreadable format using algorithms. This process makes it difficult for hackers or other malicious actors to read or steal sensitive information.
Regular security audits are also conducted by third-party firms to ensure that Millennium Trust Company’s systems are secure from cyber threats. These audits help identify vulnerabilities in the system, which can then be addressed promptly.
Millennium Trust Company also adheres to industry standards such as SOC 1 Type 2 and SOC 2 Type 2 certifications. These certifications demonstrate that the company has implemented adequate controls over its operations, including its IT systems’ security and confidentiality aspects.
In addition to these measures, clients’ assets are held in custody by regulated custodians who provide an additional layer of protection for investors. Custodians are regulated by the Securities and Exchange Commission (SEC) and are required to comply with strict regulations.
How to Get Started with Millennium Trust Company
Create an Account with Millennium Trust Company
Opening an account with Millennium Trust Company is a straightforward process that can be completed in just a few simple steps. To get started, visit the company’s website and click on the “Open an Account” button. From there, you will be asked to choose the type of account you want to open, such as an IRA or a 401(k) plan.
Once you have selected your account type, you will need to provide some basic information about yourself and your investment goals. This may include details such as your age, income level, and risk tolerance. Based on this information, Millennium Trust Company will recommend investment options that are best suited to your needs.
After selecting your investment options, you can fund your account by transferring money from an existing retirement account or making a contribution directly to Millennium Trust Company. Once your account is funded, you can start investing in a wide range of assets.
Select Investment Options That Suit Your Needs
One of the key benefits of opening an account with Millennium Trust Company is the ability to invest in a wide range of assets beyond traditional stocks and bonds. The company offers access to alternative investments such as real estate, private equity, and precious metals.
Investing in these alternative assets can help diversify your portfolio and potentially increase returns over time. However, it’s important to keep in mind that these types of investments may also carry higher risks than traditional investments.
Monitor Your Investments Regularly
Once you have opened an account with Millennium Trust Company and selected your investment options, it’s important to monitor your investments regularly. This means keeping track of how each asset is performing and making adjustments as needed to ensure that you are on track to meet your retirement goals.
It’s also important to keep in mind that investing involves risk and there are no guarantees by working with a trusted partner like Millennium Trust Company and staying informed about market trends and investment strategies, you can help maximize your chances of success.
Customer Support and Resources Provided by Millennium Trust Company
Free Trials of the Technology Platform
Millennium Trust Company offers free trials of its technology platform to its customers. This is a great resource for those who are new to alternative assets or who want to try out the company’s services before committing to a full account. The platform is user-friendly and easy to navigate, with features such as online account management, document storage, and reporting tools. Customers can also access educational resources on the platform, including webinars and articles on investing in alternative assets.
Access to Financial Advisors
In addition to its technology platform, Millennium Trust Company provides access to financial advisors for its customers. These advisors are knowledgeable about alternative assets and can provide guidance on investment strategies and portfolio management. They can help customers understand the risks and benefits of different types of investments and make informed decisions based on their individual goals and risk tolerance.
Custody Services for Alternative Assets
Millennium Trust Company specializes in custody services for alternative assets such as private equity, real estate, hedge funds, and more. As a custodian, the company holds these assets on behalf of its clients in secure accounts that are separate from the custodian’s own accounts. This helps protect clients’ investments from fraud or mismanagement by third parties. Millennium Trust Company also provides administrative services such as record-keeping, tax reporting, and compliance monitoring.
Expertise in Alternative Assets
With over $30 billion in assets under management across more than 50,000 accounts, Millennium Trust Company has extensive experience in managing alternative assets. The company’s team includes experts in fields such as real estate, private equity, hedge funds, and more. This expertise allows Millennium Trust Company to provide customized solutions for its clients based on their unique needs and goals.
Backed by Abry Partners
Millennium Trust Company is backed by Abry Partners, one of the largest private equity firms in North America. This partnership provides Millennium Trust Company with access to additional resources and expertise, which it can use to further improve its services and offerings. It also gives clients confidence in the company’s stability and long-term viability.
Recognition as a Fast-Growing Company
Millennium Trust Company has been recognized as one of the fastest-growing companies in the financial services industry. This growth is a testament to the quality of its services and the trust that clients have placed in the company. As Millennium Trust Company continues to expand, it will be able to provide even more resources and support for its customers.
Key Points about Millennium Trust Company
In conclusion, Millennium Trust Company is a reliable and trustworthy financial institution that offers a wide range of services to its clients. With over 20 years of experience in the industry, it has established itself as a leader in providing custodial and administrative solutions for alternative assets.
The company’s commitment to security and compliance ensures that clients’ assets are protected at all times. Its user-friendly platform makes it easy for clients to manage their accounts and access information on the go.
Millennium Trust Company’s diverse client base includes individuals, advisors, institutions, and retirement plans. The company caters to the unique needs of each client by offering customized solutions that align with their investment goals.
Overall, working with Millennium Trust Company provides numerous advantages such as flexibility, transparency, and peace of mind. Their exceptional customer support team is always available to assist clients with any questions or concerns they may have.
If you’re looking for a reputable financial institution to help you manage your alternative assets, look no further than Millennium Trust Company. Their expertise in the industry coupled with their dedication to providing top-notch services make them an excellent choice for anyone seeking custodial or administrative solutions for their investments.
