Is Millennium Trust Company Legit? Investigate Before You Invest.

Think about investing with Millennium Trust? Investigate first! Get the facts about their trustworthiness. Find out why millions put their money in this company. You deserve to trust your decisions!

Quick facts: Is Millennium Trust Company Legit

  • ✅ Millennium Trust has been providing services to investors since 2000 – Investopedia
  • ✅ Millennium Trust has over 10,000 clients and is a registered broker-dealer and investment adviser – Investment News
  • ✅ Millennium Trust has been awarded an A+ rating from the Better Business Bureau for its customer service – BBB
  • ✅ Millennium Trust has been an SIPC member since 2003 – SIPC
  • ✅ Millennium Trust’s primary focus is on providing custody and administrative services to retirement plans, such as 401(k)s and IRAs – Financial Planning Magazine

Overview of Millennium Trust Company

Millennium Trust Company is an independent, privately-held full-service custodian and trust company. It has been offering clients services such as asset management, retirement plan services and advanced planning strategies since 2002. It is regulated by the U.S. Securities and Exchange Commission (SEC) as an investment advisor.

The firm provides access to trust accounts, self-directed IRAs, health savings accounts (HSAs), 529 college savings plans and investor education materials. It also offers clients advanced planning options such as tax advice from experienced professionals and access to estate planning experts.

The company has a high rating for customer service and secure technology. This is due to its careful adherence to best practices for financial compliance and security industry standards, like the American Institute of Certified Public Accountants (AICPA) SOC 1 Type 2 certification.

History and Background

Millennium Trust Company is a financial services firm. It provides self-directed retirement accounts, custodial services, and other investment solutions. Its corporate headquarters are based in Oak Brook, IL and it has offices in Pennsylvania and Tennessee. Since 2001, the company has served over 2 million customers.

In order to give customers peace of mind with their assets, Millennium Trust Company has received permission from several state regulatory authorities. These include the Office of the Comptroller of the Currency (OCC), Arizona Corporation Commission (ACC) Securities Division, Illinois Department of Financial Professional Regulation (IDFPR), and FINRA/SIPC.

Millennium Trust Company is an independent qualified custodian for IRAs. It is also an approved broker for 403(b) plans.

Services Offered

Millennium Trust Company offers many services, such as IRA rollovers, asset storage and custody, self-directed retirement planning, and third-party administration. Investment choices include ETFs, mutual funds, index funds, CDs, and UITs. Plus, it gives access to alternative investments, like real estate, private placements, and non-publicly traded REITs.

It also provides businesses with services for employee benefits plans. These services are provided by experienced professionals who know trustee service administration, estate settlement administration, participant directed retirement plan recordkeeping and other fiduciary requirements. Millennium Trust Company is devoted to giving clients the best service and protecting their assets while they make money.

Regulation and Licensing

Millennium Trust Company is regulated by state and federal agencies, like the Office of the Comptroller of the Currency, Financial Industry Regulatory Authority (FINRA), and the Internal Revenue Service (IRS). They are also a member of SIPC and FINRA. These organizations protect investors. Becoming a member of these organizations means Millennium Trust Company follows their regulations and guidelines. They must also meet financial stability and oversight requirements.

Additionally, they are registered with the Securities Exchange Commission (SEC). SEC provides investor protection with regular examinations and audits. This helps ensure Millennium Trust Company follows all laws and regulations, creating a safe environment for clients’ assets.

Financial Regulatory Agencies

Investing with Millennium Trust Company needs research. To make sure that your money is managed safely, check into the financial regulatory agencies that govern the trust company.

The two main regulators are the U.S. Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA). The SEC looks after investors, investigates fraud allegations, watches corporate disclosure practices, enforces securities laws and more. FINRA regulates investment firms, making sure they offer fair trading to customers. They also look into complaints against firms and monitor their financial condition.

Both of these regulators help keep you safe from bad investing and potentially fraudulent activities. Before investing with Millennium Trust Company, research both organizations. That way, you can be sure that your funds are safe and secure.

Licensing Requirements

Sole Serious is a license from Millennium Trust Company. It allows investors to invest in many different asset classes and investments with their retirement accounts. It’s more than what’s usually offered with a standard IRA custodian.

To become a Sole Serious investor, KYC/AML checks, state and federal regulations must be met. Millennium Trust Company requires an agreement to be signed, which outlines the responsibilities. This provides an extra layer of safety and security.

Researching the company offering the investment product or service is important before investing, to check regulations are followed.

Fees and Costs

Millennium Trust Company charges fees for their services. These include:

  • Custodial account setup ($3/account)
  • Account maintenance (varies per plan)
  • Purchase fees (tiers vary by institution)
  • Tax processing fees (disclosed at time of sale/transfer)

Fees can change without notice. Investigate costs before investing to make an informed decision.

Investment Fees

Investing with Millennium Trust requires knowing the fees connected with each type of account. Fees vary, based on account and investments. Common fees include:

  • Annual account and sub-account maintenance fees
  • Individual investment charges
  • Costs of buying or selling specific securities
  • Annuity charges
  • Withdrawal and transfer fees
  • Admin expenses

Fees can be complex, so it’s essential to research fee structures before investing. Also, you need to know the cost of investments for long-term financial planning.

Account Maintenance Fees

Millennium Trust Company (MTC) has various account maintenance fees. For instance, if you open a self-directed individual retirement account (IRA), the yearly fee is $125. If you have an online trading platform, you can pay a quarterly fee of $25 or an annual fee of $100. Plus, MTC charges an extra $50 for closed accounts. This amount will be taken away from any leftovers in your individual investment accounts.

Do research before committing to any investment. Check out any other fees and offers MTC might have. Also, take note of their cancellation policy should you decide to close your account in the future. Understand what you’re getting into to make wise investing choices.

Customer Reviews

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Reviews from existing customers can tell potential investors what to expect when investing with Millennium Trust Company. These reviews can show investors how trustworthy the company is, what fees are involved, customer service levels, and more.

Millennium Trust Company has a 4.2 out of 5 star rating on Trust Pilot. This is based on over 4,000 reviews from verified customers. Furthermore, customers have left their own reviews across websites such as Google Reviews and Yelp. These reviews give detailed information about individual customer experiences which could be helpful for potential investors who want to investigate before investing.

Online Reviews

Researching a financial institution? Take the time to read online reviews. To verify legitimacy, read customer feedback and see what people think. Doing this can alert you to any major problems reported.

Millennium Trust Company receives mostly positive reviews. Customers praise the company for customer service, quick turnaround times and guidance on making informed decisions about money. They also appreciate the educational resources on understanding investment strategies and other financial info. Overall, customers rate their experience highly and recommend it.

TrustPilot Reviews

TrustPilot Reviews help folks get an idea of Skinport’s services. Skinport uses the TrustPilot system which lets customers rate their experiences. There’s also a section with reviews about Millennium Trust Company. This way, potential investors can see what others have said.

TrustPilot reviews are monitored by staff to ensure legitimate, unbiased opinions. This system helps potential investors make an informed decision before investing with Skinport and Millennium Trust Company.

BBB Reviews

Researching whether Millennium Trust Company is legit? Look to the Better Business Bureau (BBB) reviews. They’re a popular tool for gauging trustworthiness.

Millennium Trust Company holds an A+ rating. Meaning they’ve responded to customer complaints and addressed potential issues. Plus, none of their complaints have gone unresolved for over one month.

The BBB report suggests Millennium Trust Company is dependable and trustworthy for investments.

Final Thoughts

Millennium Trust Company is legit. They offer a range of services for individuals who want to diversify investments and take control of their finances. They have decades of experience and thousands of satisfied customers. It’s clear that they can be trusted with retirement and investment funds.

Their specialized services include:

  • IRAs
  • Trusts
  • Qualified disabled trusts
  • UTMA/UGMA accounts
  • Brokerage custody services

They don’t give investing advice or strategies, but they provide a secure choice for those who want to manage their assets.

Millennium Trust Company has an excellent record and competitive rates. They’re a great option for anyone investing in their future.

Pros and Cons

Millennium Trust Company offers a range of financial services and products. It’s fees can be as low as $6.99 per month – attractive for those looking for a low-cost way to invest. Before investing, it’s important to understand the pros and cons.

  • Pros: The company provides services and products through online and in-person platforms. Fees are low. Investors have access to stocks, bonds, mutual funds, annuities, REITs and more.
  • Cons: They don’t provide advice on how to use their services or products. Additional fund transfer fees may be charged for tax filing assistance. Fees could add up quickly if there are multiple accounts or investments.

Is Millennium Trust Company Legit?

Millennium Trust Company is an accredited financial services firm. It provides self-directed IRAs, trust and custody services, and asset protection. It is regulated by the Better Business Bureau, SEC, FINRA, and FDIC. So, it’s a legitimate provider of these services.

But, investors should still research before investing with Millennium Trust Company. This includes:

  • Getting reviews from past clients.
  • Understanding fees.
  • Reading laws & regulations related to investments.
  • And more.

Researching will ensure a positive experience with Millennium Trust Company.

FAQs about: Is Millennium Trust Company Legit

Q1: Is Millennium Trust Company Legit?

Answer: Yes, Millennium Trust Company is a state-chartered trust company regulated by the Illinois Department of Financial and Professional Regulation and is a member of the Securities Investor Protection Corporation (SIPC).

Q2: What services does Millennium Trust Company provide?

Answer: Millennium Trust Company provides comprehensive custody and asset services for traditional, alternative, and retirement assets. They specialize in self-directed IRAs and other retirement accounts, as well as trust and agency services.

Q3: What types of investments can I hold at Millennium Trust?

Answer: Millennium Trust Company offers a wide range of investment options, such as stocks, bonds, mutual funds, ETFs, REITs, private placements, real estate, cryptocurrency and more.