alternative asset custodian
1. Who is Millennium Trust Company?
Millennium Trust Company, headquartered in the Chicago suburb of Oak Brook, Illinois, is a privately held trust company chartered by the State of Illinois. Our expertise and customized solutions have enabled us to become an industry leader in administering alternative investments for custodial accounts, IRAs, Solo 401(k)s, and HSAs. We specialize in the custody of alternative assets including real estate, hedge funds, futures, private equity, promissory notes, mortgage, deeds of trust, offshore funds, gold and other precious metals and certificates.
Millennium Trust Company provides administrative and custodial services, including income collection, recordkeeping and reporting as well as safekeeping of assets. Millennium Trust Company’s role, solely as a custodian, does not include investment management or advisory services.
2. How do I know that my assets are safe with Millennium Trust Company?
Millennium Trust Company was founded in 2000 and currently provides custodial services to over 130,000 accounts with total assets under custody exceeding $3.8 billion, as of March 31, 2011. As a regulated custodian, we are examined annually by the Illinois Department of Financial and Professional Regulation. A financial audit and review of operating procedures is performed annually by a certifed public accountant and a technology security audit is performed annually by an outside consultant. Millennium Trust Company also maintains appropriate financial institution and liability insurance.
3. Where will my assets be held?
Alternative assets are held in custody at our corporate headquarters in Oak Brook, Illinois. For IRAs, Solo 401(k)s, and custody accounts, Millennium Trust Company provides a Cash Investment Program for investment of idle cash up to $1,000,000 using FDIC-insured bank interest bearing demand accounts at four unaffiliated banks. Balances over $1,000,000 will be held in the Federated Government Obligations Fund – Trust Shares.
4. What is the alternative investment process?
Alternative investments need to go through an operational assessment process before an investment can be made. Millennium Trust Company has created investment timelines for futures, real estate and other types of private placement to educate clients on processing steps and timeframes. Different procedures are followed for different types of investments. Please contact our Alternative Investment Client Services for specific details.
5. What are the benefits of selecting Millennium Trust Company as a custodian for clients' alternative investments?
Millennium Trust Company has the experience to help navigate alternative investments with administrative and custodial services designed for investment professionals and individuals. Investors may select from a wide variety of alternative assets including hedge funds, real estate, futures and more. Our dedicated client service team is available to answer questions toll free at 866.388.5464.
6. Does Millennium Trust Company provide investment advice?
No. Millennium Trust Company performs the duties of a custodian and, as such, does not provide investment advice or sell investments, nor offer any tax or legal advice.