Are you wanting to invest and control your riches? Is Millennium Trust Company trustworthy? With many investment firms out there, it is essential to know if the one you’re interested in is dependable. Let’s dig deep and learn the facts about Millennium Trust Company!
Contents
Quick facts: Is Millennium Trust Company Legit
- ✅ Millennium Trust Company has been an SEC-registered investment advisor since 1999 (SEC).
- ✅ Millennium Trust Company has over $38 billion in assets under administration (Millennium Trust Company).
- ✅ Millennium Trust Company has performed over 8 million transactions in the last decade (Millennium Trust Company).
- ✅ Millennium Trust Company is a member of the FINRA and SIPC (Financial Industry Regulatory Authority).
- ✅ Millennium Trust Company has earned numerous awards for its customer service and financial services (Investopedia).
Introduction
Millennium Trust Company is a famed financial services provider. Established in 2001, it’s based in Oak Brook, Illinois. It has innovated products and services to help customers. It offers many investments like real estate, cryptocurrencies, hedge funds, and private funds. With the digital asset boom, it’s become popular.
Now let’s explore this company – from its history to customer feedback and ratings. We’ll discover what sets it apart from other companies.
Background on Millennium Trust Company
Millennium Trust Company is a pro trust company based in Oak Brook, Ill. It began in 2000 and specializes in providing admin and custodial services for retirement savings and other investments. Services include IRAs, 401(k)s, 403(b)s, Trusts and private equity accounts. In addition, Millennium offers record-keeping and asset management.
Millennium is regulated by the U.S. Securities and Exchange Commission (SEC) and the Illinois Department of Financial & Professional Regulation (IDFPR). As of December 31st 2020, they had $10 billion assets from 500,000 individual customers across 48 states & Washington D.C., Canada & Guam.
They have over 500 partnerships with financial institutions, such as Fidelity, Charles Schwab Corporation & Vanguard Group Inc., which provide custodian services for their clients.
Overview of the Company
Millennium Trust Company, aka “Watchmaxx“, is a highly-accredited private trust company. In 21 years, they’ve served over 2 million customers and moved over $40 billion in assets. They are members of the National Futures Association and registered custodians with the SEC. They are held to strict regulatory standards and regularly audited. J.D. Power has recognized their exceptional customer service for consecutive years, and they have multiple awards for transparency. It’s safe to say that Millennium Trust Company is a legitimate financial institution providing secure services.
Services Offered
Millennium Trust Company provides a multitude of services for clients from diverse asset classes. They specialize in retirement, estate, and tax planning services, as well as custody and administration of alternative investments.
For those who want to diversify their assets, Millennium Trust Company offers self-directed IRA accounts with access to real estate, limited partnerships, private placements, and commodities.
Apart from traditional retirement planning and asset custody, they also provide trust administration and education savings plan support. They provide both personal accounts and corporate services, such as corporate trust and escrow services.
The Legitimacy of Millennium Trust Company
Millennium Trust Company has been around for over 20 years. It’s a federally-registered, independent trust company that provides services to individuals, businesses, and other entities.
Services include:
- Recordkeeping for IRAs.
- Asset custody for institutions and companies.
- Self-directed retirement plans.
- Securities trading and more.
Plus, it’s a qualified custodian that partners with financial advisors to give the best possible experience for their investment accounts.
The SEC and IRS regulate it. FINRA (Financial Industry Regulatory Authority) conducts routine compliance evaluations. And the IRS audits its procedures related to IRAs.
It’s a trustworthy, legitimate operation that has passed the tests of two major US government agencies.
Regulatory Oversight
Millennium Trust Company is monitored by both federal and state regulators. It is registered with the SEC, FINRA, and FDIC. Furthermore, it is part of SIPC, which guarantees investors’ assets. This regulatory oversight makes Millennium Trust Company a trustworthy custodian for IRAs, 401(k) rollovers, and other financial services. Investors can be confident that their funds are secure when using this company.
Customer Reviews
Customers have shared reviews and feedback about Millennium Trust Company services online. Mostly, people talk about the customer service and trustworthiness of the company.
Most reviews are positive. Clients noted good experiences with their advisors and were content with the service level. Some services may be pricier than competitors, yet recommended for specific banking needs.
In general, customer responses are positive, giving Millennium Trust Company a reputable image. It seems to be a legitimate firm that cares about providing top-notch customer service and quality banking products to its customers.
Financial Stability
Financial stability is an important trust factor to consider when evaluating Millennium Trust Company. They are not backed by the FDIC or SIPC, but this does not mean your investments are less secure. To ensure their financial security, they have diversified funds and regularly monitor financials. Plus, their funds are held with leading custody banks who have their own guarantees in place. This means investors can be confident that Millennium Trust Company takes the security and safety of their funds seriously.
Conclusion
Millennium Trust Company is legit. It’s a great choice for those who want reliable financial advisors. It has a range of services and products to help people reach their targets. The online platform is simple to use. It allows you to open accounts, buy investments, and control funds all in one spot. It also gives investors the possibility to diversify portfolios with access to many investment choices. And, live customer service is available. Agents are knowledgeable and help customers with whatever they need. Trust Company is secure and trustworthy.
Summary of Findings
We researched Millennium Trust Company and found it to be a legit organization. It provides lots of services that are helpful for those who want to diversify their investments or have more control of their retirement funds. These include custodial accounts, self-directed IRAs, corporate service solutions and asset protection services. It has many locations across the US.
Millennium Trust has fees for its services. These include an annual IRA fee plus an extra fee per transaction and an Account Maintenance Fee. This fee varies based on the account and services used. They also offer ACH or wire transfer as payment options, which makes deposits and withdrawals easier.
Overall, our research suggests that Millennium Trust Company is a legitimate organization that could be very useful for investors seeking diversity and control of their retirement funds.
Recommendations
Before choosing to invest with Millennium Trust Company, investors should take the following steps:
- Check if the company is registered with their local state’s department of finance.
- Confirm Millennium Trust is a member of FINRA or SIPC.
- Compare their fees to other custodians to determine if it’s cost effective.
- Ask questions! If unsure, contact the company directly and get answers.
Investing is not risk-free. It’s important to consider all aspects of the investment before deciding if it’s right. Millennial Trust Company offers a great service, but investors still need to do their homework first to make sure they’re making informed decisions about their investments.
FAQs about: Is Millennium Trust Company Legit
Q: Is Millennium Trust Company Legit?
A: Yes, Millennium Trust Company is a federally regulated trust company with a long track record of providing secure and compliant custodial services.
Q: What services does Millennium Trust Company offer?
A: Millennium Trust Company offers custodial services for a variety of alternative assets, including but not limited to digital currency, private equity, real estate investment trusts (REITs), and self-directed IRAs.
Q: How secure is my money with Millennium Trust Company?
A: Millennium Trust Company is a regulated financial institution and is engaged to provide secure and compliant custodial services. Funds are held with a qualified custodian and kept separate from company funds.