Oak Brook, IL and New York, NY (March 4, 2014 ) - Millennium Trust Company and Lend Academy Investments (LAI) today announced that Millennium Trust was selected to provide a full range of asset custody solutions for LAI’s new “peer-to-peer” lending-focused fund and managed accounts. Additionally, individual investors looking to invest in LAI’s offerings through Individual Retirement Accounts (IRAs), will be able to select Millennium Trust as their qualiﬁed IRA custodian.
Lend Academy Investments, launching today, is a Registered Investment Advisor (RIA) that invests directly in consumer and small business loans originated through leading “peer-to-peer” platforms like Lending Club, Prosper and Funding Circle USA.
“With many of the more traditional ﬁxed income investments having a rough time of late, both institutional and individual investors seem to be ramping up their consideration of peer-to-peer loan offerings,” said Millennium Trust CEO Scott McCartan, CFA®. “We’re happy to be supporting their custody requirements on multiple fronts as they now launch Lend Academy Investments to meet this increasing interest.”
Millennium Trust Company has more than ten years of expertise providing custody for a full range of assets − both traditional and alternative. They have a demonstrated ability to create tailored custody solutions for a wide range of ﬁrms and needs, from Fortune 500 companies to many of the startups and more established companies that are pioneering the way investors are able to access alternative investment offerings. Solutions include providing custody for private funds as well as for investments in alternative assets through IRAs.
“Millennium Trust saw the potential of peer-to-peer lending very early on and they have become the go-to custodian in this industry. Most of the leading industry players use the services of Millennium Trust and they have built a solid reputation for providing excellent client service,” said Peter Renton, Co-Founder of Lend Academy Investments. “We wanted a custodian that understood peer-to-peer lending and the unique custody requirements of a business like ours. Millennium Trust was the natural choice for us.”
For more information about Millennium Trust Company visit: http://www.mtrustcompany.com
For more information about Lend Academy Advisors visit: http://lendacademy.com
About Millennium Trust Company
Millennium Trust Company is a leading financial services company offering niche alternative custody solutions to institutions, advisors and individuals. The firm serves as a complement to services offered by other custodians. Their innovative solutions include rollover solutions, alternative asset custody, private fund custody and advisor support solutions. Millennium Trust performs the duties of a directed custodian and, as such, does not perform due diligence on prospective investments, sponsors or service providers and does not sell investments or provide investment, tax or legal advice.
About Lend Academy Investments
Lend Academy Investments is a Registered Investment Adviser with the SEC that invests directly in consumer and small business loans originated through leading “peer-to-peer” platforms.