Is Millennium Trust Company Legit? An Insider’s Guide.

Think of investing with Millennium Trust Company? Legit? This guide has the answers! Get an in-depth look. History, services, and reviews. Know if it’s the right choice. Make an informed decision.

Quick facts: Is Millennium Trust Company Legit

  • ✅ Millennium Trust Company has over $20 billion in assets under custody – Investopedia
  • ✅ Millennium Trust provides custodial services to retirement plans, health savings accounts and 529 college savings plans – Millennium Trust Company
  • ✅ Millennium Trust is listed on the Financial Industry Regulatory Authority (FINRA)’s BrokerCheck – BrokerCheck
  • ✅ It has an A+ rating from the Better Business Bureau (BBB) – Better Business Bureau
  • ✅ The company has received numerous awards, including “Best Self-Directed IRA Custodian” by Bankrate in 2018 – Bankrate

Overview of Millennium Trust Company

Millennium Trust Company is a financial services organization providing self-directed retirement accounts and custodial services. It was established in 2001, and now has more than 800,000 investors. They manage over $20 billion in assets.

Customers can open Individual Retirement Accounts (IRAs), Roth IRAs, 401(k)s or Rollover IRAs with Millennium Trust Company. They also offer custodial services for alternative asset accounts such as real estate or cryptocurrency investments.

Millennium Trust Company provides educational resources on retirement planning topics. Plus, tools such as calculators to estimate future savings goals or retirement income needs are available.

History of Millennium Trust Company

Millennium Trust Company has been helping people manage their finances since ’99. They offer custodial services, IRA/401(k) solutions, alternative asset solutions, retirement plans, and self-directed brokerage accounts. David Drucker founded them in Oak Brook, Illinois. They have offices across the USA too. The company is part of the Association of Professional Investment Advisers (APIA) and registered with the SEC.

Horizon Actuarial Services helps clients manage investments better. They give fiduciary support, investment consulting, and data analytics to help clients make the best choices for their portfolios.

Services Offered by Millennium Trust Company

Millennium Trust Company (MTC) is a financial services provider. They offer traditional custody, self-directed IRAs, and alternative asset solutions. Their key feature is Rewards Giant.

It’s a loyalty rewards program which allows investors to get cash back on fees paid for MTC investments. Rewards Giant offers up to 10% cash back on certain MTC investments. This includes fees on IRA setup, trustee or custodial fees, investment management fees, and other qualified investment expenses.

Apart from cash back, investors can also receive reward points. These points can be used towards merchandise from over 200+ leading brands or donated to select charities. Rewards Giant is available for all MTC clients with qualifying accounts.

Regulatory Compliance

Millennium Trust Company is legitimate due to its regulatory compliance. It must adhere to laws from its local jurisdiction and any other laws related to its business. This includes federal consumer protection laws, anti-money laundering compliance, and more. It is registered with the SEC, as well as FINRA, the NFA, and U.S. Treasury Department.

This company has met the strict operational requirements of the SEC. These include:

  • Internal audit controls
  • Customer segregation requirements
  • Transaction records-keeping standards

In conclusion, Millennium Trust Company is compliant with all necessary federal regulations.

Financial Industry Regulatory Authority (FINRA)

FINRA is a separate, non-governmental regulator. This organization supervises the actions of stockbrokers and other financial professionals. They make sure that traders obey certain rules when providing money services.

In the US, all firms offering securities must become a FINRA member. This guarantees clients investing in securities get fair treatment. Millennium Trust Company is a part of FINRA, so investors can be sure it meets the high integrity, quality and responsibility standards.

Securities and Exchange Commission (SEC)

The SEC is a federal agency that regulates the securities markets and protects investors. They are responsible for enforcing laws, proposing regulations, and monitoring registered entities.

Millennium Trust Company is not regulated by the SEC. But, they still need to abide by certain monitoring from the SEC.

It’s important for investors to understand their regulatory info. And, they should read any disclosures before investing in any product or service.

Department of Labor (DOL)

The Department of Labor (DOL) is a federal agency that regulates U.S. labor laws. Its mission? To protect the welfare of workers and ensure fairness in the workplace. The DOL’s Wage and Hour Division enforces laws related to minimum wage, overtime pay, child labor and employee record keeping.

Millennium Trust Company is one such custodian regulated by the DOL. Their services include retirement plan admin, IRAs, trust accounts, alternative investments and more. To stay legal, Millennium Trust must obey the DOL’s rules and regs. This direction from a high-authority body gives investors peace of mind that their money is secure with Millennium Trust.

Security and Privacy

Millennium Trust Company is a very reputable institution when it comes to security and privacy. They meet the highest global standards and offer top-notch security for your data. They understand that security is a must for trust when it comes to your financial wellbeing. So, they take steps at the company level to prevent identity fraud or data breaches.

Their secure transfer process helps protect your information. They have a strict access policy that requires PINs, passwords, and multi-factor authentication before granting access to any accounts or transactions. As an extra layer of protection, Millennium Trust Company also uses remote server encryption protocols. This securely stores all data on their secured servers. These layers provide extra security and privacy, protecting your sensitive financial info from third-parties without authorization. They help keep you safe from any malicious activities.

Multi-factor authentication

Multi-factor authentication (MFA) is a must for financial accounts online. It adds an extra layer of security. You need two or more pieces of information: something you know, something you have, and/or something you are.

Millenium Trust Company requires MFA when signing into accounts. This includes an authentication code sent to the registered email or device. Plus, they need to verify identity with a Social Security number, Driver’s License number, or Passport number.

This extra layer of security stops unauthorized access and keeps customers’ accounts safe.

Encryption of sensitive data

Millennium Trust Company takes security very seriously. They use encryption tech to protect data – like when you log in and send info between their platform and your device. They use the latest SSL encryption standard too. So, when you send something to them, it’s always secure.

They also monitor who has access to internal systems. Only those that are allowed can view confidential customer info. This means Millennium Trust Company meets high security standards. Making them a safe and secure choice for your investments.

Privacy policy

At Barrel Ammo Depot, privacy is a top priority. We use, store and share data you provide to us in compliance with the law.

This Privacy Policy explains what information we collect, how we use it and when we may share it with third-parties. We may update this Policy on our website from time to time.

We will never sell, rent or trade your personal information without your permission. We may use the info we get to help us better understand our customers and improve our services. If we make any changes or revisions to this Privacy Policy, your use of Services afterwards means you agree to them.

Fees and Charges

Conclusion-Is Millennium Trust Company Legit? An Insider

Fees and charges are a company’s way of receiving payment for services. Millennium Trust Company has a range of fees and charges depending on the account type. For instance, an IRA may have a one-time setup fee and annual fee. Bank accounts may have monthly service fees. Mutual funds may have sales loads, annual investment management fees, or redemption fees.

It’s important to remember different investments have different costs and fees. Before investing with Millennium Trust Company, it’s best to know all associated expenses. Review the full list of fees and charges to understand them fully before investing.

Setup and annual fees

EcoPlus is Millennium Trust Company’s online platform – to access accounts and manage investments. Through EcoPlus, clients can open new accounts, transfer funds, view statements and balances, and monitor investments. It also gives an overview of Millennium Trust Company’s services.

The setup fee for EcoPlus is $50 per account or relationship. Plus, an annual maintenance fee of $65 per year. So, to establish an account with Millennium Trust Company, a one-time setup fee of $50 is needed. Plus, an annual maintenance fee of $65 for each account or relationship established.

Custodial fees

Millennium Trust Company is legit. The US Dept. of Labor and SEC endorse them as a custodian for self-directed IRAs. They’ve been around since ’99 and serve 1 million+ clients.

When choosing a custodian, fees are key. Millennium’s range from $15-$25 per transaction for Traditional, SEP, or SIMPLE IRAs. Plus, an annual custodial fee of $75. And don’t forget about other fees for investments like transfer fees or commissions on stocks or mutual funds. Be sure to review all fee info before selecting a custodian.

Investment fees

Investing? Fees matter! Services like account opening, management, and processing transactions usually come with fees. Custodian fees might be charged by a custodian to store your assets. These fees are usually low, just covering the storage cost.

Before investing, make sure to check the fees you must pay – so you know what you’re in for.

Customer Reviews

Customers rate Millennium Trust Company highly. Our guide will provide reviews from sources like the Better Business Bureau and Trustpilot.

Most customers mention their team’s helpfulness and friendliness. Low-cost access and competitive fees also get praised.

Few people complain about longer wait times for money transfers. All in all, Millennium Trust Company seems to offer reliable services at an affordable price.

Overview of customer reviews

Millennium Trust Company has a good name. Customers like their low fees and quick onboarding process. Most people that contact customer support say their queries get sorted fast and professionally.

Investments are secure and customers get good advice from their financial advisors. Some have faced delays or unhelpful advisors, but it’s not common.

All in all, Millennium Trust is a legit financial services provider with mostly good reviews. So, those thinking of investing with them can rest assured that their funds will be safe and looked after by experienced pros.

Pros and cons of customer reviews

Customer reviews can offer valuable insights into a company’s services and products. They can provide an idea of how user-friendly the processes are, and how long it takes to respond to customer complaints. Reviews are helpful, but come with drawbacks.

  • They might not be accurate or impartial. Positive reviews could have been written by people who work for the company. Fake negative reviews could be written to harm a competitor.
  • Reviews may not provide enough detail for customers to make an informed decision. It’s important to look at other resources as well.

Don’t rely on customer reviews alone!

Summary of customer reviews

Millennium Trust Company is held in high regard by customers. Reviews indicate customers find the company reliable and trustworthy. Customer service is friendly and accommodating. Customers noted low fees as an advantage.

Overall, reviews prove that Millennium Trust Company is a legitimate, reliable financial services provider. Low fees, great customer service, and secure investments make it a great choice for those seeking a trust company.

FAQs about: Is Millennium Trust Company Legit

Q1. Is Millennium Trust Company Legit?

A1. Yes, Millennium Trust Company is a legitimate financial services company that holds and administers a variety of self-directed investments. The company is a member of FINRA and SIPC, and is regulated by the SEC and state regulatory agencies.

Q2. What Services Does Millennium Trust Company Offer?

A2. Millennium Trust Company provides self-directed services to individuals, companies, and organizations. They specialize in providing custody, trust, and administrative services for a variety of alternative investments, including digital assets, private placements, real estate, and more.

Q3. Is Millennium Trust Company Safe?

A3. Yes, Millennium Trust Company is a safe and secure financial services company. They are members of FINRA and SIPC and are regulated by the SEC and state regulatory agencies. As such, your investments with Millennium Trust Company are protected up to $500,000.