Firm expands product offerings and continues growth trajectory in the second quarter of 2019
OAK BROOK, IL – September 5, 2019 – Millennium Trust Company, LLC (“Millennium Trust”), a leading provider of retirement and institutional solutions, finished the second quarter of 2019 with continued growth and $26.8 billion assets under custody in more than 1.26 million accounts.
Millennium Trust was recognized by Crain’s Chicago Business as a member of the 2019 Crain’s Fast 50 list as one of the Chicago area’s fastest-growing companies. Millennium Trust earned the 26th spot on the Crain’s Fast 50 list, which showcases companies in the Chicago metro area that have achieved impressive revenue gains over a five-year period. It’s the second consecutive year that the firm earned a spot on the list. Earlier in the year Millennium Trust received awards by two other organizations for having an outstanding workplace culture.
“The results and growth in recent years have been outstanding, and our business is as healthy as ever,” said Gary Anetsberger, CEO of Millennium Trust. “As we expand our service offerings and enhance the way we serve our clients, our strong entrepreneurial culture is the foundation. We are well positioned to accelerate our growth trajectory into the future.”
Retirement Services surpassed a significant milestone when it entered into its 100,000th automatic rollover agreement with a plan sponsor and finished the quarter with more than 1.8 million rollover individual retirement accounts processed at Millennium Trust. The firm continues to be the industry leader in automatic rollovers, which are the preferred industry-accepted standard for handling missing or unresponsive accounts.
“We continue to work with our clients to find innovative ways to enhance retirement readiness for Americans,” said Terry Dunne, Managing Director of Retirement Services. “We are developing new services like Workplace Savings Solutions, which provides small and mid-sized businesses and their employees’ access to easy, affordable retirement options. Our goal continues to be to increase access to retirement savings plans and prevent leakage from the retirement system.”
Institutional Custody Services ended the second quarter with $13.2 billion in fund assets under custody in more than 450 private and public funds. The team continued to build out the API functionality launched earlier this year, which enables investment platforms and advisor systems to seamlessly integrate custody solutions with Millennium Trust. The Millennium Trust API also provides investment sponsors with the ability to allow their clients access to their investment products through self-directed IRAs. Millennium Trust is on pace to have a record year in opening investor accounts in self-directed IRAs.
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 follow us on Twitter and LinkedIn.
