Millennium Trust, leader in servicing individual retirement accounts,
to provide services for more than 10,000 transferred accounts
OAK BROOK, IL, December 3, 2019 – Millennium Trust Company, LLC (“Millennium Trust”), a leading provider of retirement and institutional services, has announced the acquisition of substantially all of the assets of Liberty Trust Company, LTA (“Liberty Trust”).
Liberty Trust, founded in Dallas, Texas, in 2005, is a leading provider of custody and administration services for specialized individual retirement accounts (“IRAs”). At the time of the transaction, the Liberty Trust client accounts represent approximately 10,000 IRAs and $800 million of retirement assets under custody, including self-directed IRAs holding privately-held or alternative assets, as well as automatic rollover IRA accounts originating from corporate retirement plan sponsors.
“Liberty Trust’s business aligns perfectly with Millennium Trust’s, and we have a dedicated and experienced team to serve these clients through the transition and beyond,” said Gary Anetsberger, CEO of Millennium Trust. “We are excited to build and expand relationships with these clients, and provide them the outstanding service that Millennium Trust is known for in the industry.”
“It was important for us to make sure that this transaction would work well for our clients,” said Glen Martin, CEO and Co-Founder of Liberty Trust. “Millennium Trust is the leader in this industry, and offers clients an outstanding experience and value.”
“We are thrilled with what Millennium Trust has to offer our clients,” added Stephen Pauley, COO and Co-Founder of Liberty Trust. “We know they will receive top-level service with Millennium Trust.”
This transaction represents Millennium Trust’s sixth acquisition over the past three years, demonstrating the company’s long-term strategy and ongoing commitment to augmenting its strong organic growth with highly strategic acquisitions.
“When we consider acquisitions, we look for opportunities that make sense for both the clients involved and our business. This opportunity will benefit Liberty Trust’s clients by providing access to Millennium Trust’s broad selection of retirement solutions, as well as our robust service team and online resources.” stated Erik Beck, Chief Growth Officer for Millennium Trust. “Going forward, we continue to be focused on expanding client relationships, enhancing the client experience, and offering innovative tools and services that help Americans save for retirement and enable our partners to do the same for their clients.”
About Millennium Trust Company®
Millennium Trust Company is a leading provider of retirement and institutional services with over 1.3 million client accounts holding over $27 billion in assets. We are committed to the evolving needs of individuals and 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.