Committed To Quality custody services
Millennium Trust is vigilant about protecting the quality and integrity of our operations. We employ systematic internal controls and comprehensive assurances to create the secure environment in which we custody clients’ assets. The selection and performance of your investments is your responsiblity; the protection of your information is our responsibility.
External Oversight
Millennium Trust is chartered by the State of Illinois to perform trustee and custody functions. We are examined annually by the Illinois Department of Financial and Professional Regulation (DFPR), which helps ensure safety, soundness and compliance with the Corporate Fiduciary Act.
Millennium Trust is audited each year by two separate independent audit firms. The firm’s financial statements are audited on an annual basis by an independent certified public accountant and in accordance with AICPA professional standards. An unqualified opinion was issued on Millennium Trust’s most recent annual financial statements. In addition, an annual assessment of Millennium Trust’s information technology (IT) security is conducted by an outside consulting firm. The most recent report finds the company’s IT security structure to be very effective.
Insurance Coverage
Millennium Trust has insurance coverage for the failure to render professional services and for illegal acts by employees, directors and owners such as fraud and theft. This includes Management Liability, Professional Liability and Fidelity Bond coverage through Chartis. This insurance does not relate to the safety of the investments chosen by our clients.
Business Continuity
We have established a comprehensive disaster recovery plan utilizing business continuity services provided by SunGard Availability Services. Data is backed-up and saved at a secure off-site data storage facility.
Privacy Policy
Millennium Trust operates by extensive physical, electronic and procedural safeguards to ensure the security of client records. We never disclose personal information about clients to third parties without a client’s written consent, except for legitimate business purposes and in compliance with all applicable laws and regulations. We also never provide information to outside companies for marketing or telemarketing purposes. For additional information, see our Privacy Statement.
Higher-Limit FDIC Insurance
Through the Cash Investment Program, Millennium Trust provides IRA and other cash account holders $1,000,000 of FDIC insurance by holding up to $250,000 at up to four unaffiliated banks.
