Millennium Trust Company Review

Millennium Trust Company Review

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Do you need help managing your finances? Are you looking for a company that can provide you with trust and estate planning services?

The contemporary world is full of uncertainties that affect every aspect of people's lives. Whether dealing with complicated investments or estate planning, they need sure ways to plan for their retirement or manage their hard-earned wealth.

 Fortunately, there is Millennium Trust Company for those who need help managing their finances.

Before we get started with this review:

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About Millennium Trust Company

MTC homepage

Millennium Trust Company is a third-party financial services company that provides the trust, custody, and administrative services needed for clients to maximize their investments and meet their long-term goals.

It offers a wide range of trust and estate planning services to help clients protect their assets and maximize their investment potential. The company is worth considering because it manages over $ 37 billion in assets and serves over 2 million accounts.

Also, MTC is strongly committed to its clients, providing high-quality service that adheres to the highest legal and ethical standards.  The company was founded in 2002 and is one of the leading providers of financial services and trust/custody services.

It has earned a reputation for its ability to provide clients with an intuitive and comprehensive range of financial solutions tailored to their individual needs.

MTC is a member of the Financial Services Roundtable, which means it has access to the expertise and resources of leading financial institutions, such as Goldman Sachs, JPMorgan Chase, and Morgan Stanley.

Additionally, Millennium Trust Company is regulated by the SEC and FINRA, providing clients with an added layer of security and reliability.

As a values-driven organization, its mission is to provide secure asset management for clients without compromising customer service or security.  

Millennium Trust's wide array of products and services includes self-directed IRAs, custodial accounts, 401(k) rollovers, 529 college savings plans, institutional trust services, specialized services such as cryptocurrency custody, and alternative investments like real estate trusts. 

Furthermore, they offer direct access to various financial resources enabling clients to make informed decisions about their finances.

With its team of experts providing personalized advice and guidance on any matter related to investments or personal finance, the company offers a comprehensive solution to its clients.  

The Millennium Trust Company also provides a superior level of security and protection for client funds, leveraging advanced technology and best practices in operational risk management.

This is done through encryption technology and other security measures such as identity verification, two-factor authentication, and 24/7 monitoring to protect against fraudulent activity.

Additionally, customer service is available around the clock with knowledgeable advisors who can assist customers with their financial needs.  

Since 2002, MTC has seen exponential growth, managing over $37 billion in assets and serving over 2 million accounts.

In the coming years, they plan to continue expanding their services by offering new features and capabilities designed to meet their clients' ever-changing financial needs.

Additionally, MTC continually invests in technology and data security measures to ensure their client's private information remains safe and secure.

In the future, MTC plans to continue providing its clients with innovative solutions that enable them to manage their assets and maximize their investment potential.  

Millennium Trust Company is an ideal option for individuals seeking total investments or trust management services.

The company's suite of products and services is reliable and secure, while its customer service team offers personalized support for any financial need.

These tools allow individuals to make informed decisions about their finances and build a secure financial future.

Millennium Trust Company Management

The company has some of the most experienced and highly qualified professionals in the financial industry.

President and CEO Gary Anetsberger are responsible for leading MTC through its rapid growth while providing its clients the highest level of service.

Gary has over 40 years of experience in financial services and has held executive positions before assuming his current role in 2016.  

He is joined by the executive vice president and chief operating officer, Dan Laszlo, who brings extensive expertise in operations, finance, and compliance.

Laszlo served in the management of Goldman Sachs and William Blair & Company before joining Millennium Trust. 

Bob Kunimura serves as the MTC's Chief Technology Officer. He has held the position for eight years since he left Swiss Bank Corporation to join MTC.

He is responsible for developing and implementing high-end solutions to ensure that their client's assets are well protected. 

Jenifer Abernathy is the only female in the executive team as the Chief Compliance Officer. She has over 20 years of experience in FINRA compliance and regulatory consulting.

Jenifer also served as a senior vice president for Citigroup, giving her an extensive knowledge base in financial services, which she uses to keep MTC compliant with the latest regulations. 

The executive team is further supported by other experienced personnel with extensive knowledge in the financial industry.

With such a competent and professional team at the helm, Millennium Trust Company offers reliable services to help its clients protect and manage their assets for the future.  

The company also holds several awards and recognitions, including being named "Best Real Assets Investment Firm" by Money Magazine in 2020 and "Best Financial Technology Solutions Provider" by the Wall Street Journal for two consecutive years.

It's a five-time Inc 500 winner with an A+BBB rating. These awards are a testament to the dedication and excellence MTC has consistently maintained over the past 18 years.

Services and Products

MTC retirement products

MTC offers a wide range of services and products to meet the individual needs of its clients.

Their core service is custody, which includes custodial accounts for IRAs, Roth IRAs, Coverdell Education Savings Accounts (ESAs), Self-Directed 401(k)s, SEP IRAs, and Health Savings Accounts (HSAs).

They also offer traditional trust services such as trusts, estates, guardianships, and conservatorships.

401K (K) Plans 

MTC partners with employers to offer a 401(k) plan that helps their employees save for retirement. The plan allows employers to develop, maintain and administer their 401(k) plan while providing the same level of service to their employees. 

They also offer a range of investment choices, retirement plan education, loan programs, and other services. 

Traditional and Roth IRA Accounts 

MTC offers Traditional IRA and Roth IRA accounts with the option to invest in stocks, bonds, mutual funds, ETFs, and other investments. The accounts guarantee tax advantages, making it a great way to save for retirement.

However, investors cannot use contributions to settle income tax and are subject to other limitations. 

Self-Directed Investments 

MTC also offers self-directed investment options that give individuals more control over their assets. 

They can choose from a wide range of alternative investments, such as real estate and cryptocurrency, as well as traditional securities like stocks, bonds, and mutual funds.  

Coverdell Education Savings Accounts (ESAs) 

ESAs are tax-advantaged accounts that can be used to pay for qualified education expenses such as tuition, fees, and books. MTC offers these accounts the option to invest in stocks, bonds, or mutual funds.

They also provide various other services, such as loan programs, retirement plan education, and asset protection. The accounts are subject to certain contribution limits and cannot be used to pay for non-qualified expenses. 

Health Savings Accounts (HSAs) 

MTC also offers Health Savings Accounts (HSAs), tax-advantaged accounts that can be used to pay for medical expenses like doctor visits, prescriptions, and other qualified costs.

The funds are available for use in any year and can be rolled over from one year to the next. The HSA plan allows individuals to save money and prepare for future medical expenses. 

Asset Management Services 

MTC provides comprehensive asset management services that include portfolio monitoring, risk assessment, tax optimization strategies, and more.

Through their asset management services, they offer tailored solutions to help clients manage their assets and maximize returns while minimizing risk. 

SEP and SIMPLE IRA Accounts 

The Simplified Employee Pension (SEP) and Savings Incentive Match Plan for Employees (SIMPLE) IRA accounts are retirement plans for self-employed persons and small business owners.

MTC offers various services related to these accounts, such as plan setup, employee enrollment, and ongoing administration.

SEP IRAs are suitable for long-term savings with tax-deferred growth, while SIMPLE IRAs can be used for long-term and short-term savings.

Opening an Account with Millennium Trust Company

MTC makes it easy to open an account with them. Individuals can easily open an account online or over the phone and provide the necessary information, such as name, contact information, Social Security number, and more.

The process is simple, and customers can get their accounts up and running in no time.  Customers are asked to review and accept the account agreements and disclosures during the account opening process.

They will also be required to provide identification documents such as a driver's license or passport. Once an account is opened, customers can start investing in their preferred options.

As with any financial institution, customers should read all disclosures before opening an account and investing.

Millennium Trust Company Fee Structure

Investors with MTC incur various fees, including account maintenance and transaction fees. Service-specific fees are also associated with self-directed investments, asset management services, and Coverdell education savings accounts.

The fee structure varies depending on the type of account opened and the level of service selected. Here are the three most common fees associated with MTC accounts:  

Maintenance Fee 

The maintenance fee covers the cost of maintaining accounts, such as processing deposits and withdrawals. Investors pay a $50 establishment fee and a $100 annual fee for each account opened. 

Transaction Fee 

The transaction fee covers the cost of executing trades and investing in securities. The prices vary depending on the type of security traded and the number of transactions.

MTC transaction fees cover stocks, bonds, and mutual funds. Investors should know that this fee must go into the maintenance account. 

Custody Fee 

The custody fee covers protecting assets in a client's account. It is a fee charged on the total value of assets held in an account and ranges from 0.02% to 0.125%. The custody fee is charged on both traditional and alternative assets.

Traditional assets include stocks, bonds, and mutual funds, whereas alternative assets include private equity, real estate, gold, and other investments.

Pros of Millennium Trust Company

Equal Treatment 

The company provides equal service to all its investors irrespective of their account size or social status. This ensures that all customers get fair treatment and that their investment decisions are taken seriously. 

Transparent Fee Structure 

MTC's fee structure is transparent and easy to understand. The fees are clearly stated and customers know exactly what they are paying for. 

Experienced Management Team 

MTC's top management team members have years of experience in the financial sector. This makes them well-equipped to provide sound advice and assistance to investors.

Experience is paramount in investing, and MTC's management team should give investors some peace of mind. 

Broad Customer Base 

MTC has a broad customer base, including individuals, corporations, non-profits, and government entities. This means it can cater to the needs of different types of investors. 

Diverse Investment Options 

With MTC, customers have a wide range of investment options, including stocks, bonds, mutual funds, and traditional and alternative assets.  This allows investors to diversify their portfolios and manage risk effectively.

Cons of Millennium Trust Company

High Fees 

The fees associated with MTC accounts are relatively high compared to other financial institutions. Metal storage fees are a particular concern for investors who want to invest in gold and other alternative assets. 

Many Negative Reviews 

MTC has had its share of negative reviews online. Customers have complained about customer service and other issues related to their accounts. It has an average rating of 3.7 out of 5.0 stars.

This rating is wanting since the company has been operating for about two decades and has thousands of online customer reviews.

FAQs About MTC

Is MTC Legit? 

MTC is a legitimate financial institution that has been operating since 2002. It provides custodial services to individuals, corporations, and non-profit organizations. It has a physical location and encourages its investors to book in-person appointments. 

How Do I Open an Account with MTC? 

To open an account with MTC, you must complete the online application form and provide proof of identity such as a driver's license or passport. Once approved, your report will be opened instantly. 

Is My Money Safe With MTC? 

Yes, your money is safe with MTC as the company is insured and regulated by the FDIC and SEC, respectively. The company also has a variety of security measures in place to protect customer information and accounts from fraud or theft.

Final Thoughts

Millennium Trust Company (MTC) is an experienced financial services provider providing investors with various investment options.

It is regulated by the FDIC and SEC and has multiple security measures to protect customer information. The fee structure may be relatively high, and some customers have received negative reviews.

Still, MTC is a reliable and trustworthy institution for those looking to invest their money safely. It may suit investors looking for a transparent fee structure and an experienced management team.

However, customers must be prepared to pay relatively high fees due to the maintenance, transaction, and custody fees associated with MTC accounts.

Weighing the pros and cons carefully should help you decide whether Millennium Trust Company is the right choice for one's investment needs.

Millennium Trust Company (MTC) is an experienced financial services provider, but we do not recommend them for investors that are looking to protect their savings with a self-directed IRA that can hold physical precious metals.

There are much better companies to work with that we have researched in detail on this website.

You can get a Free Gold Investors Guide from our top gold and precious metals company recommendation by clicking the link above or you can read our article of the top companies we reviewed this year:

>> CLICK HERE to read our list of the Top Gold IRA Companies. <<

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