- Millennium Trust helps reunite individuals with retirement funds left behind in their employer’s retirement plan. They are a retirement services company with over 1.2 million client accounts and have a reliable reputation among their users.
- Millennium Trust custody multiple types of retirement accounts and an extensive range of assets. They offer accessible solutions for retirement planning and the ability to take control and save for retirement.
- Positive ratings and reviews on Trustpilot credit the company with providing excellent customer service. However, negative feedback highlights concerns about fees and customer support.
Overview of Millennium Trust Company
Millennium Trust Company has been providing exceptional financial services for more than two decades. In this section, they will cover their company background, history, and services offered.
With a focus on providing custody solutions for alternative assets such as precious metals, private equity, and real estate, Millennium Trust Company has become a leading custodian in the industry.Their dedication to empowering their clients with the freedom to invest in a wide variety of alternative assets has helped set them apart in the industry.
Pros and Cons
✅ Low fees and commissions
✅ Variety of services, including custodial accounts, trust administration, and retirement planning
✅ A wide range of investment options
✅ Access to experienced financial advisors
❎ Limited availability in certain states
❎ Limited access to international markets for non-U.S.-based investors
❎ Potential difficulty withdrawing assets from certain accounts due to regulations or other restrictions
❎ Limited customer support options and hours of operation
Company Background and History
Millennium Trust Company has a great past. Started in 2000 in the USA, Illinois, it has served its customers with reliable custody solutions for over 20 years. Besides Traditional IRA, Roth IRA, SEP IRA and SIMPLE IRA, it also provides alternative assets, accounts and retirement funds.
One of its unique features is its segregated storage services which protect customers’ assets from fraud or theft. It stands apart by its remarkable knowledge and its support for special investment strategies. Clients are happy with the service of Terry, who goes beyond expectations to give outstanding service.
However, some customers have had bad experiences due to particular transaction issues. This should not stop future customers from using the company’s services. It’s important to remember that it does not give investment advice nor legal advice and does not do due diligence on investments made by investors.
Millennium Trust Company offers a wide range of retirement services. Custody services are available for traditional, Roth, SEP/SIMPLE IRAs, Solo 401(k)s, and more. Plus, self-directed IRA options let clients save for retirement. Alternative asset investments are also offered, such as private equity funds, precious metals, and real estate.
They provide support for investment/retirement funds held outside of traditional platforms. Plus, their infrastructure is set up for digital assets, including Bitcoin futures trading. Segregated storage fees let them cater to customer requirements. Clients can store bullion with guaranteed segregation from other customers in any OneGold vault locations worldwide.
The company has received an excellent rating on Trustpilot. Over 500 reviews average 4.5 out of five stars, confirming their high level of service.
Retirement Services Offered by Millennium Trust Company
Millennium Trust Company provides retirement services to help clients protect and grow their retirement savings. They offer a range of account custody options, including cryptocurrency, and take a user-centric approach to retirement planning, making them a top choice for retirement services.
This section will cover two of their services:
- The custody of different types of retirement accounts, and
- The ability for individuals to take control and save for retirement.
Custody of Multiple Types of Retirement Accounts
Millennium Trust Company is a reliable provider of retirement services. They offer custody for various types of retirement accounts. They provide Traditional or Roth IRA, SEP, Solo 401(k), and other accounts. This makes it easier for people – self-employed or with no standard retirement plans – to save for retirement and protect their accounts.
Apart from regular retirement services, they also give account holders the chance to invest in non-public assets like real estate and private equity deals. This provides investors more freedom to manage their portfolios.
Additionally, Millennium Trust Company offers resources tailored to clients’ needs and requirements. While some have complained about their fees, they are competitive compared to other similar institutions. Therefore, review all fee structures before investing with them.
Ability to Take Control and Save for Retirement
Individuals aiming to have charge of their retirement savings can look to Millennium Trust Company’s services. It offers custodial services for many types of retirement accounts, providing a way to save for retirement on one’s own terms.
Millennium Trust Company allows users to take control of their investments and to have flexible solutions for investing in alternative assets. Customers are also able to transfer existing IRAs and 401(k) accounts. This lets them consolidate all their assets in one place for easier management and tracking of their savings.
Moreover, the company provides accessible custody solutions for customers to feel secure about their investments. It supports investment accounts and a range of alternative assets, such as retirement funds like CDAs or QLACs.
Though Millennium Trust Company provides helpful services, it does not offer due diligence on investments, investment advice, legal advice, or tax advice.
In conclusion, Millennium Trust Company is great for individuals who want to take charge and save for retirement, particularly those interested in alternative assets. Positive reviews on platforms such as Trustpilot attest to the quality of their customer service and knowledge in the field.
Positive Ratings and Reviews on Trustpilot
Millennium Trust Company has earned high marks on Trustpilot for its exceptional services, receiving numerous positive ratings and reviews from a wide range of customers. This section will examine a specific example of excellent service provided by Terry.
Example of Excellent Service Provided by Terry
Millennium Trust Company has gained recognition from TRUSTPILOT for their wonderful service. One customer applauded Terry’s guidance and assistance with their account. Terry’s deep understanding of their retirement services helped the customer open an account, move funds without any issues, and maximize their investment returns. This first-class service shows the devotion of team members at Millennium Trust Company.
It’s worth noting that clients should speak to Millennium Trust Company when selecting a representative custodian, to ensure they are paired with someone knowledgeable like Terry.
Despite potential negative feedback from clients, Millennium Trust Company is still determined to provide superb service to everyone. Terry is one of many professionals who are part of the skilled team at Millennium Trust Company.
Negative Experiences of Some Customers
Some customers may have negative experiences with Millennium Trust Company. However, it is important to note that the company has an A+ rating with the Better Business Bureau and has been accredited since 2004. While specific examples of negative experiences are not provided, it is recommended that customers thoroughly research and understand the company’s services and policies before investing with them.
Example of a Negative Experience
Recently, a customer of Millennium Trust Company reported issues when attempting to withdraw a large sum of money. Connecting with customer service was difficult and the customer was forced to deal with personnel unaware of their situation. The delay in the withdrawal process caused even more frustration.
The company’s website states that if additional documents or signatures are needed, processing can take up to 10 business days after receiving everything. Customers should be aware of this and understand the account closure and liquidation procedures to avoid delays.
Retirees on a strict budget may find the fees for administration, storage, and segregation offered by Millennium Trust Company to be expensive.
Fees Charged by Millennium Trust Company
When it comes to choosing a trust company, fees can play a crucial role in your decision-making process. In this section, we’ll take a closer look at the fees charged by Millennium Trust Company, including administration and storage fees, as well as fees for segregated storage. We will compare their fees with those of other trust companies and help you understand how these fees can affect your investment portfolio.
Administration and Storage Fees
Millennium Trust Company offers retirement accounts with administration and storage fees. These fees cover the costs of managing and maintaining accounts. The admin fees are charged annually, for Traditional IRAs, Roth IRAs, and SEP IRAs. The storage fees vary depending on account balance. There are no hidden fees with their services; all costs are discussed upfront.
Millennium Trust also provides segregated storage options for alternative assets, like precious metals or real estate. This option has extra costs but also offers enhanced security.
Millennium Trust is known for providing accessible custody solutions and remaining transparent about fees.
Segregated Storage Fees
Millennium Trust Company requires segregated storage fees. They are in place to protect specific assets, which will be stored in a special custodial account. With a table of fees, customers can figure out the cost of storing their assets. For example, real estate has a $100,000 minimum balance and a $100 monthly fee.
These fees are separate from admin or storage fees for other retirement accounts, like IRAs or 401(k)s.
Having segregated storage fees with Millennium Trust Company is a great way to keep valuable assets secure. This gives you peace of mind that your investments are safe and accessible. Don’t miss out on this chance to keep your assets safe with Millennium Trust Company.
Expertise and Services Provided by Millennium Trust Company
Millennium Trust Company is a reputable company that offers secure custody solutions and investment services. Their expertise encompasses a broad range of services, including support for alternative assets, investment accounts, and retirement funds. Their custody solutions are easily accessible, and they’ve earned a reputation for providing exceptional customer service.
Unmatched Service and Accessible Custody Solutions
Millennium Trust Company is renowned for its unmatched service and accessible custody solutions for retirement accounts. They excel in handling traditional IRAs, Roth IRAs, and Solo 401(k)s. Plus, they specialize in supporting alternative investments held within self-directed retirement plans. Clients can easily access their accounts, and benefit from responsive customer support from seasoned professionals.
Investing for retirement requires a long-term strategy that should fit one’s financial goals. To maximize returns and minimize risk, it is essential to review account statements regularly. Millennium Trust Company works closely with clients to ensure their investment strategies comply with government regulations and industry standards.
Millennium Trust Company offers unparalleled custody solutions and support for all. Their cutting-edge technology and reliable services make them a top provider in the retirement services market. They deliver reliable and accessible custodial services that set them apart from the rest.
Support for Alternative Assets, Investment Accounts or Retirement Funds
Millennium Trust Company understands the need for retirement services that meet our clients’ unique needs. We offer various options to support alternative assets, investment accounts, and retirement funds. Our services provide custody solutions for peace of mind.
We specialize in retirement accounts that give access to private equity, real estate, hedge funds, and other non-publicly traded assets. We are experienced in managing self-directed IRA investments. We provide help for investing in a variety of types, such as Precious Metals IRAs, Real Estate IRAs, and Private Security IRAs.
Our expertise extends to Investment Accounts and Retirement Funds. We offer assistance in running these accounts, including educational savings accounts like 529 plans and ABLE accounts/trusts for people with disabilities.
It’s important to note that while we have diverse services, we do not provide due diligence on investments nor offer advice on legal or tax compliance matters. At Millennium Trust Company, we work hard to provide superior support for retirement needs.
Limitations of Millennium Trust Company Services
Millennium Trust Company offers a diverse range of investment options, but it is important to note that their services have certain limitations. One of the primary limitations is that there is no provision of investment, legal, or tax advice. Additionally, while Millennium Trust Company thoroughly vets the investment products it offers, due diligence on individual investments is not provided. These limitations should be carefully considered before deciding to work with Millennium Trust Company, as they could potentially impact the overall success of an investment portfolio.
No Due Diligence on Investments
At Millennium Trust Company, we specialize in custody solutions and administration for investments. However, it’s vital to understand that we don’t offer advisory or consulting services. It’s up to customers or clients to do their own research and due diligence before making any decisions. We don’t verify the quality, performance, or legality of investments.
This doesn’t mean we’re negligent or untrustworthy. We take responsibility seriously and aim to give the highest level of service. But, the responsibility for wise investment decisions lies with customers or clients.
We remind investors to stay cautious when making decisions, especially with retirement savings. Investments can be unpredictable and volatile. Due diligence should always be done to avoid mistakes and losses. At Millennium Trust Company, we’re committed to exceptional service and support. Plus, we respect the importance of individual responsibility in the investment process.
No Provision of Investment, Legal or Tax Advice
At Millennium Trust Company, we prioritize our clients’ needs. We offer top-notch custody solutions for alternative assets and retirement funds. But, it is crucial to note that we don’t provide investment, legal, or tax advice. Any information we give is only for general purposes. It should never be a substitute for personalized investment, legal, or tax advice from a financial advisor or attorney.
We have expertise in retirement services, but we don’t offer recommendations or do due diligence on our clients’ behalf. Our clients must research and get advice from trusted sources before making any account decisions.
Clients are responsible for retirement plans meeting IRS regulations and laws. We offer custody of multiple types of retirement accounts. We suggest that clients exercise due diligence when investing in assets such as real estate, private stocks, or precious metals that are allowed in retirement plans.
A recent customer review on Trustpilot commended Terry, one of our staff, for excellent service during the account setup process and answering questions quickly.
To sum up, we offer comprehensive self-directed retirement planning solutions, but not the responsibility of ensuring our customers’ investments’ success. So, we encourage clients to get personalized investment advice from their financial advisors and attorneys before making any investment decisions.
Final Thought – Assessment of Millennium Trust Company as a Retirement Services Provider
Millennium Trust Company stands apart. They offer tailored retirement solutions to meet each client’s unique needs. They use advanced technology to create personalized retirement plans and simplify the process. Plus, their customer service is renowned. They provide personalized attention to address all questions and concerns. Transparency, security, and customization are at the center of their philosophy. No wonder they’re a top choice for retirement planning!
Five Facts About Millennium Trust Company:
✅ Millennium Trust helps reunite individuals with retirement funds left behind in their employer’s retirement plan and has over 1.2 million client accounts.
✅ Millennium Trust offers custody for multiple types of retirement accounts and an extensive range of assets, enabling clients to save for retirement.
✅ Millennium Trust has positive ratings and reviews on Trustpilot, with clients appreciating excellent and knowledgeable service from representatives like Terry.
✅ Millennium Trust charges $200 for administration and storage fees and an additional $75 for segregated storage of precious metals, which is a bit higher than some competitors.
✅ Some customers have reported negative experiences with Millennium Trust, including difficulty accessing their accounts and receiving paper statement fees.
FAQs About Millennium Trust Company Review
Who is Millennium Trust Company and what services do they provide?
Millennium Trust Company is a retirement services company that helps reunite individuals with retirement funds left behind in their employer’s retirement plan. They offer custody for multiple types of retirement accounts and a wide range of assets. The company offers traditional and alternative asset class investment solutions to over 1.2 million client accounts, including individuals, financial advisors, and institutions.
Are there any positive reviews about Millennium Trust Company?
Yes, Millennium Trust strives to deliver a superior experience for all clients, and they have positive ratings and reviews on Trustpilot. Terry, a customer service representative, received excellent reviews for answering questions regarding transferring 401k from a previous job to savings and tax processes. Terry walked through the website’s steps, making the process easier than expected.
What is Eva Hedwig S’s experience with Millennium Trust Company?
Eva Hedwig S is disappointed with the A rating given to Millennium Trust by Better Business Bureau. Her former employer rolled over her retirement savings from Vanguard to Millennium Trust, but she has been unable to access her account for a year. Eva has received paper statements with hefty fees from Millennium Trust, and customer service keeps transferring her to different departments. A customer service representative confirmed that the account information on file was not accurate. Eva sent copies of her driver’s license and requested form via email but never heard back from Millennium Trust. Eva has given up hope of accessing her funds and believes Millennium Trust is a horrible company.
What are the sliding scale fees for segregated storage accounts with Millennium Trust Company?
Millennium Trust Company charges $200 for administration and storage fees, which is a bit higher than some competitors. Segregated storage of precious metals costs an additional $75. Sliding scale fees vary for segregated storage accounts.
What is Millennium Trust Company’s user rating and rank among gold IRA custodians?
Millennium Trust Company has a global rating of 4/5 but only has one user rating of 1/5. It is currently ranked #7 on the list of top gold IRA custodians.
Does Millennium Trust Company offer due diligence to third parties on prospective investments, platforms, sponsors, or service providers?
Millennium Trust Company performs the duties of a directed custodian but does not provide due diligence to third parties on investments, platforms, sponsors, or service providers. It does not sell investments or provide investment, legal, or tax advice.