Worried about your investments with Millennium Trust Company? Uncover the truth and rest easy! Here’s the essential info you need. Learn all about this company’s legitimacy now!
Contents
Quick facts: Is Millennium Trust Company Legit
Background
Millennium Trust Company was founded in 1999. It is a privately held, registered and bonded trust company. Offices are in Illinois and California. The U.S. Department of Treasury registers it as a bank. The U.S. Securities & Exchange Commission registers it as a non-depository trust company.
Millennium Trust provides custodial services for self-directed IRAs, alternative investments and related services for individual investors, financial advisors and institutions. It also offers service solutions for corporations, foundations, endowments & government entities for legal compliance and administrative convenience. Nearly two decades on, it has grown; serving nearly half a million clients from all 50 states through its services.
Overview of Millennium Trust Company
Millennium Trust Company is based in Chicago and provides services for individuals and institutions, like self-directed IRAs and HSAs. Founded in 2001, they wanted to help people with retirement accounts. Their mission is to give clients access to great trust services.
These services include
- trusts
- 529 college savings
- asset management
They also review plan documents for employers who need funding strategies.
Millennium Trust Actuarial Services helps customers with Horizon Actuarial Services. This team specializes in retirement plan design and actuarial consulting.
History of the Company
Millennium Trust Company was established in 2008 by a team of finance pros. Their goal? To provide straightforward, modern solutions for those seeking out unconventional investments. These include private equity, hedge funds and real estate.
Based in Oak Brook, Illinois, the company has seen tremendous growth over the past decade. From an initial $1 billion in assets, it’s now at an impressive $10 billion and serves more than 100,000 clients across the US.
Millennium Trust is licensed as an independent custodian for self-directed IRA owners in America. Both FINRA (the Financial Industry Regulatory Authority) and the SEC (Securities and Exchange Commission) regulate their actions, making sure they uphold customer protection regulations.
Services
Millennium Trust Company is here to serve you! They offer a wide range of services to meet the needs of all kinds of investors. This includes retirement plan and trust account administration, trustee services, custody, asset management, financial planning and more.
They want you to have the best experience possible. The latest tech is available for managing investments, plus their transactions are encrypted with the latest security measures. And the cherry on top? They are FINRA and SIPC registered to give you peace of mind with their industry-leading compliance.
Retirement Services
Millennium Trust Company is a retirement services firm. They provide professional custodial services for IRAs, 401(k)s, HSAs, and other qualified plans. They are an independent mover and offer custodial services for both traditional and alternative assets. Clients can trust their investments are managed well.
Millennium has offices in Chicago, Illinois; New York City; Kansas City, Missouri; and Charlotte, North Carolina. They help clients plan for their financial future. They also offer educational materials about taxes and Social Security.
Custody Services
Millennium Trust Company is a custodial service provider for investors. It focuses on safeguarding investments with fraud protection and competitive pricing. There are specialized services, such as alternative investments, self-directed IRAs, 529 plans, and more. Security measures are robust and there’s a wide range of options. All of this is to help investors get the most out of their assets, safety-wise and stability-wise.
Education Savings Services
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Financials
Researching a company’s financials is key for any investor. To check the legitimacy of Millennium Trust Company, investors should look into their income statement, balance sheet, and ratings from Moody’s or Standard & Poor’s. These factors give a good glimpse into the company’s financial health and overall trustworthiness.
With a thorough financial review, investing with Millennium Trust Company can give investors confidence and peace of mind.
Assets Under Management
Millennium Trust Company holds over $30 billion in assets managed, showing investor trust and reliance. It is monitored by FINRA and other overseeing authorities, backed with extra insurance for clients and offers compliance services to make sure their operations meet industry standards.
For more than two decades, Millennium Trust Company has been providing retirement services for corporations, small companies and individuals. With such a long time of experience and an excellent standing in the market, one can assume that Millennium Trust Company is real.
Financial Performance
Millennium Trust Company is a financial services company, offering secure and regulated products and services since 2003. They focus on custodial, investment advisory, trust, and alternative investment management services. Keeping assets safe and secure is their top priority.
The firm has a strong financial performance. Their total assets managed in 2017 were more than $35 billion, with net income of over $40 million the same year. To back up their stability, Millennium Trust Company carries an A- Rating from S&P and a “Very Strong” financial strength rating from Demotech. Investing with them is a secure and reliable option.
Regulations
Millennium Trust Company is subject to a variety of regulations. These regulations protect clients and ensure the security of their assets. The company must comply with U.S. Department of Labor and IRS laws. Also, state securities, insurance and banking regulations.
Additionally, Millennium Trust is supervised by state and federal regulators. Examples include the U.S. Securities & Exchange Commission (SEC), Financial Industry Regulatory Authority (FINRA), National Futures Association (NFA). Plus, Self-Regulatory Organizations–National Association of Securities Dealers (NASD) and North American Securities Administrators Association (NASAA).
To keep its registration, Millennium Trust undergoes audits and examinations. These are to make sure it complies with trust company laws.
Regulatory Compliance
Millennium Trust Company is registered with the SEC as an investment advisor. This means they must disclose any potential conflicts of interest when it comes to custodial services.
FINRA and the SEC review them regularly to make sure they meet all regulations. BNY Mellon professionally manages the client funds, which are kept in a separate trust account.
Overall, Millennium Trust Company follows regulatory standards and customer safeguards. Making it a good option for retirement savings.
Security and Privacy
Millennium Trust Company takes data security and privacy seriously. They have implemented several layers of physical, technical, and procedural safeguards. Funds are held in separate accounts with the trust’s bank custodian under their name or affiliates. Accounts have private passwords and the customer is the only one with access.
Digital communication between a customer and Millennium Trust Company is encrypted with TLS technology. Million Trust complies with regulations to ensure customers’ information remains safe from third-party misuse or abuse.
Reviews
Do you want to know what customers think of Millennium Trust Company before investing? Check out the reviews!
Customers praise the company’s customer service. They say it is top-notch, with speedy solutions and advice. Plus, people love the low fees and lots of investment options.
But, some customers have been unhappy. They said certain fees are too high. Also, some people have had issues with documents taking too long to get back or not being filled out correctly.
Generally, reviews point to Millennium Trust as a good company. But, be sure to do your own research and ask questions before investing.
Online Reviews
Online reviews are a great way to see what customers think of a business. We looked at Millennium Trust Company’s reviews. Many customers were happy with the service they got, but some had worries about their transactions. These included long waits and difficulty releasing assets.
It seems that Millennium Trust Company is real and has mostly good reviews, but there might be some improvements in customer service responsiveness.
Customer Support
Millennium Trust Company provides first-class customer service. Available staff members can help with investments, retirement accounts, and more. Customers can reach out via phone, email, or their online chat feature. There are also helpful resources on their website, such as webinars, blogs, and guides. The knowledgeble staff are always ready to answer any questions. Furthermore, the company’s advanced technology systems ensure secure investing.
With Millennium Trust Company’s commitment to customer service and secure environment, customers can rest assured of an informed decision.
Conclusion
Thorough research has proven Millennium Trust Company to be legit. They’ve been around for more than two decades and have a great name in the finance world. Furthermore, they provide a range of services such as custodial services and digital wallet solutions. Additionally, they ensure their clients’ data is well-protected with data protection processes and secure system environments. To top it all off, they have an amazing customer service team who are always willing to answer any questions or doubts.
Therefore, it’s clear that Millennium Trust Company is a legit business that you can rely on for your financial needs.
Summary of Findings
The legitimacy of Millennium Trust Company was the focus of this research article. After examining their licenses and complaints, it was found that they are a legitimate trust company.
Millennium Trust Company has many licenses, has experience working with both individuals and companies, and has an A+ rating with the Better Business Bureau. Additionally, there have been very few complaints about their services. These complaints have been minor and not continuous.
The research results overall proved that Millennium Trust Company is a reliable organization. People who wish to set up trusts can do so knowing that their assets will be safe and managed properly.
Is Millennium Trust Company Legit?
Millennium Trust Company is a 1999-founded online investment firm. They offer services such as IRA transfers, retirement plans, and private banking. Plus, they provide account holders with educational resources for investing and financial planning.
The firm has had its fair share of scrutiny. But reviews from people who have used them show they’re legit. They have an A+ rating from the BBB, and they’re registered with the SEC. Do your own research before investing with any online firm. But when it comes to Millennium Trust Company, it looks like they’re a legit option worth considering.
FAQs about: Is Millennium Trust Company Legit
Q1. Is Millennium Trust Company a legit company?
A1.Yes, Millennium Trust Company is a legit, federally regulated financial institution. It is a trust company and a custodian that is approved to custody digital assets.
Q2. Is Millennium Trust Company insured?
A2. Yes, Millennium Trust Company is insured through the Federal Deposit Insurance Corporation (FDIC).
Q3. What services does Millennium Trust Company provide?
A3. Millennium Trust Company provides custodial services for digital assets, self-directed IRA services, and trust services.