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Managing your investments and building your wealth is important. Millennium Trust Company is one option for those looking for financial services, including custodians or rollover services for a Self-Directed IRA. This means they can help you rollover an existing retirement account into a Precious Metals IRA where you'll be able to hold gold and silver in your retirement account.
You may be wondering whether Millennium Trust Company is the right fit for your needs and whether the company is trustworthy enough to do business with. These are certainly valid questions to investigate before trusting a company with your financial future, and we'll examine them below to give you the answers you're looking for.
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About Millennium Trust Company
Millennium Trust Company is a privately owned company that was started in 2000. Their goal is to deliver financial advice and services to meet the needs to individual investors, financial institutions, advisors, and business. With over two decades in business, Millennium Trust Company has a lot of experience. They currently have $37.6 billion under custody and over 2 million client accounts.
Millennium Trust Company is a financial services company that offers custodian services for self-directed IRAs. This means that if you are looking to open a Gold IRA, Real Estate IRA, or any other type of alternative asset IRA, they can act as the custodian for the account.
Millennium Trust Company's website outlines their promise to their client. The company vows to provide top-notch service and access to a knowledgeable team to each client. They share that they continue to invest in technology and advancements to offer the best experience possible for each client.
The company undergoes annual audits. All of their financial statements are examined by an independent certified public accountant. They are also regulated by the Illinois Department of Financial and Professional Regulation. These two details should provide you with peace of mind that they are an above-board company that works hard for their investors.
Many companies use the solutions offered by Millennium Trust Company. These companies include a mix of well-known Fortune 500 companies and smaller investment advisors and firms. Some of these companies include:
Many employers use Millennium Trust Company to rollover a retirement plan for an employee who has left their company. You may be reading this because your retirement plan from a previous employer was recently rolled over to Millennium Trust Company.
If your account was just rolled over to Millennium Trust Company, your previous employer moved your funds into an investment that would help to maintain your principal and provide a decent rate of return. If additional cash is contributed to the account, Millennium Trust Company invests it in an FDIC-insured Cash Sweep Program. This will help you earn interest on any new money that comes in.
Before having access to the money in your account, you will need to verify your identity with Millennium Trust Company. If any of your personal information has changed since the last time your retirement account was updated, you may need to provide supplemental documentation in the form of a utility bill, driver's license, marriage certificate, or divorce certificate.
If the account type you hold with Millennium Trust Company is either a Traditional IRA or a Roth IRA, you will have the option to leave them as the custodian or look for another custodian.
One of the benefits of holding an IRA with Millennium Trust Company is that IRA can hold a mix of investment types. These include stocks, bonds, mutual funds, ETFs, and CDs. Some account types may also be able to hold alternative assets, such as precious metals.
If you choose to stay with Millennium Trust Company, one of the first things you should do it is to designate beneficiaries to your account. Even if you had beneficiaries listed on the account through your employer, the terms of that plan do not apply anymore. There is a beneficiary designation form available through the website that will only take a few minutes to complete.
Millennium Trust Company can serve as the IRA custodian for a Self-Directed IRA. A Self-Directed IRA is a special type of retirement account where you have more control in the assets you hold. Like traditional IRAs and Roth IRAs, Self-Directed account holders receive tax advantages.
Whether you're looking to hold stocks and bonds in your account are looking to invest in alternative assets like gold silver or real estate, Millennium Trust Company can help you. With their two decades of experience in working as custodians for alternative assets, they bring a wealth of knowledge and information to the table for investors.
Many other custodian companies will only custody traditional assets. This is not the case with Millennium Trust Company, making them an excellent option to consider if you're looking to hold alternative assets in an IRA.
If you think you may be ready to start a Self-Directed IRA with Millennium Trust Company, check out their online pre-custody process. This process will help you determine whether your assets are eligible to be custodied and held in an IRA.
Some of the asset types they custody include:
Millennium Trust Company's website is laid out to help investors learn more about investing, IRAs and the role custodians play. They offer a comprehensive knowledge center where you can learn more about a variety of topics. These include:
Services for Professionals
In addition to providing custodian services for individuals, Millennium Trust Company also offers services for employers, institutions, and financial advisors.
These services include:
Millennium Trust Company works to form a partnership with companies. They will work with different individuals at the company along with plan sponsors, record keepers, payroll providers, and financial services companies to make sure all the company's needs are met. If you own a company and would like to learn more about the services offered by Millennium Trust Company and if they are a good fit for your business, visit the website to send a message or call them.
Are There Any Red Flags for Millennium Trust Company?
The internet offers us a wealth of information we can use to help make important decisions. When choosing a company to work for, looking through reviews from past customers and review sites takes just a few minutes. Reading through these reviews can offer you a wealth of information about a company, their business practices, the services they offer, and how they treat their customers.
You can then use this information to help you make an informed decision about whether or not you'd like to do business with a particular company.
We looked up reviews from some of the most trusted review sites online. These include the Better Business Bureau, Business Consumer Alliance, TrustLink, and Trustpilot. There are numerous other online reviews available from Millennium Trust Company through other sites if you'd like to see how they stack up on other sites.
Is Millennium Trust Company a Scam?
Millennium Trust Company is a legitimate business; it is not a scam company. They actually offer all of the financial services listed on their website.
Now, just because Millennium Trust Company is a legitimate company, it doesn't mean you should be rushing to their site to sign up for their services just yet. There are still a few concerning things about the company that may make you decide to give your business to someone else.
First, customer reviews are not overwhelmingly positive to Millennium Trust Company. While they have managed to get a 4.2 out of 5 rating on Trustpilot, when you dig a little deeper and look at some other sites, the reviews are not as positive.
For example, on the BBB website, the company has 1.3 out of 5 stars. Their A+ rating is not tied to customer reviews, so the fact that this many customers have something negative to say about the company is quite concerning.
There have also been 45 complaints against Millennium Trust Company through the BBB in just the last three years. That is a lot when you consider that there are plenty of companies out there with no complaints. Most of the complaints against Millennium Trust Company have centered around problems with the services they provide, but some also address billing problems.
Many of the complaints site issues with communication and customer support. Clients of Millennium Trust Company seem dissatisfied with the availability of members of the team to answer their questions or address concerns.
On Yelp, Millennium Trust Company has only earned 2 out of 5 stars with 231 reviews. With the large number of dissatisfied customers, it may not be a great idea to do business with Millennium Trust Company.
If you need a custodian for an alternative asset IRA or other financial services, we would not recommend using Millennium Trust Company. While they are not a scam company, they have a lot of unhappy customers. This is troubling and may mean you won't be getting the services and attention you sign up for. The good news is that there are other financial services companies that offer the same services that Millennium Trust Company does. We'd suggest looking into one of these companies over Millennium Trust Company.
Although we do think that Millennium Trust Company is a decent company, we believe that there are better companies out there to make your investment with.
Or you can get a free precious metals investment kit from our #1 recommended company right now!
Or, continue with Millennium Trust Company...