Firm launches new products, earns awards and celebrates achievements in the first quarter of 2019.
OAK BROOK, IL – May 6, 2019 – Millennium Trust Company, LLC (“Millennium Trust”), a leading provider of specialized retirement and institutional custody solutions, began 2019 on a high note with $26.4 billion assets under custody and more than 1.2 million accounts at the end of the first quarter. Millennium Trust’s accomplishments are a reflection of its continued investments in state-of-the-art technology, innovative service offerings and people development.
Millennium Trust was recognized by two organizations for having an outstanding culture and work environment. The firm earned a spot on the Daily Herald Business Ledger’s “Best Places to Work in Illinois 2019” list and was also awarded “Model Workplace of the Year” by the Greater Oak Brook Chamber of Commerce. The organization continues to enhance its people initiatives with the launch of a new Millennium Trust Wellbeing Program, which empowers employees to track and improve their health and wellbeing.
“Millennium Trust has started the year off strong, and we are committed to goals that create a successful environment for our clients and our employees,” said Gary Anetsberger, CEO of Millennium Trust. “Our firm has grown at a rapid pace, but I am very proud that we have accomplished that while also focusing on developing a strong culture of service and excellence.”
Retirement Services celebrated a successful first quarter and is approaching 100,000 agreements with plan sponsors and more than one million rollover individual retirement accounts under administration. The firm has continued to act as a leader in the retirement industry with a consistent focus on addressing the issue of retirement readiness.
The business also launched its Workplace Savings Solutions product, which provides small and mid-sized businesses and their employees access to easy, affordable retirement options, like SIMPLE, SEP and Payroll Deducted IRAs.
“Our main goal is to promote retirement readiness for Americans by reuniting them with their funds and providing them with the tools they need to save for retirement,” said Terry Dunne, Managing Director of Retirement Services. “One key focus of ours going into 2019 is Workplace Savings Solutions, which can help payroll providers and advisors expand their relationships, while increasing access to retirement savings for millions of Americans that don’t have access to a workplace retirement program.”
Institutional Custody Services ended the first quarter with $13.3 billion in fund assets under custody in more than 450 private and public funds. The firm was honored to be a finalist at LendIt Fintech USA 2019 for the “Top Service Provider” category, which is awarded to the service provider that demonstrates deep expertise and commitment to clients.
Also at LendIt Fintech USA 2019, Millennium Trust launched its new Application Programming Interface (API) product to increase access to investments through Self-Directed IRAs. With the Millennium Trust API, investment platforms and advisor systems can seamlessly integrate with Millennium Trust’s custody services and create a streamlined user experience for their clients.
“Overall, we had a very successful quarter on both the individual and institutional side of our business,” said Tom Daley, Managing Director of Custody Services. “Our Individual Investor Custody team had its best first quarter since 2011 and the second best quarter in history, and our Fund Custody team built key relationships through new safekeeping accounts and ‘40 Act funds.”
Millennium Trust's ongoing commitment to providing unmatched service, secure and easy access to investments and trusted expertise has set the tone for what is expected to be a successful 2019.
About Millennium Trust Company®
Millennium Trust Company is a leading provider of specialized retirement and institutional custody services with over 1.2 million accounts holding over $26 billion in assets. We are committed to the evolving needs of individuals, employers, advisors and retirement services partners and empower clients with trusted expertise, exceptional service and access to a wide range of solutions. Whether clients are managing corporate retirement assets, running a business or wanting choice beyond traditional asset options, we provide flexible and digital solutions to support our clients’ success.
Millennium Trust Company performs the duties of a directed custodian, and as such does not provide due diligence to third parties on prospective investments, platforms, sponsors or service providers and does not sell investments or provide investment, legal, or tax advice. For more information about Millennium Trust Company, follow us on Twitter and LinkedIn.