When it comes to investing your hard-earned money in IRA-eligible assets, you cannot be too careful. Thus, it would help if you had every bit of information at your disposal. Here is where we come in, offering comprehensive reviews of plenty of trusted companies in business today. When it comes to this one specifically, I’m sure you’ve asked yourself, is the Millennium Trust Company legit or not?
Well, today, we’ve opted to review the Millennium Trust Company, which I’ll start by saying, is a well-known name in the IRA business. It is a vast company with an impressive portfolio. For example, it holds well over 305,000 accounts and manages funds ranging over $11 billion.
Before we get too far in this review, I’d like to state that we’ve surveyed numerous companies in this space. Our list of recommended gold rollover companies was something we spent a lot of time on after thoroughly vetting the competitive landscape.
I urge you to read that, or, just click here to see our top pick.
About Millennium Trust
Millennium Trust was founded in 2000, and since then, this company has earned quite a reputation, being among the top ten industry leaders in custodial and administrative services. Millennium works with individuals, institutions, and advisors and has an impressive portfolio with hundreds of thousands of accounts and billions of dollars in custody assets. It proves that this company is a legitimate entity, and it should come as no surprise that Millennium Trust is among the best in its field.
The official Millennium Trust website has an elegant, minimalist design, a pleasant color scheme, plenty of information about the company and its services. Unlike other companies, Millennium Trust shares all relevant information about its management team and the board of directors. Such behavior inspires trust and confidence.
We also learn from the official website that the company employs over 200 people, many of them with long-term experience in the financial industry. The official website also brings plenty of information about IRA in general and much specific info on opening and managing an IRA.
Millennium Trust Services and Products
The Millenium Trust Company offers the possibility to invest in traditional and alternative assets and get access to various account types. The company offers services for individual investors and services for institutions and advisors. Individual investors access self-directed IRAs, Solo 401(k), Simple & SEP IRAs, and custodial accounts like individuals, trusts, employer plan benefits, and custodial accounts for plan participants.
The professional services include services for institutions and advisors. These are alternative asset custody solutions, private fund custody services, automatic rollover programs, and registered investment advisor services. There is plenty of information about each service on the official website, so you can learn a lot before making any long-term commitment.
As Millennium Trust offers a self-directed IRA, we need to note their gold IRA services, allowing you to invest in gold (or other precious metals) within your retirement account. The company has partnered with Gold Bullion International, a company dealing with buying, selling, storing, and delivering fully insured gold, silver, platinum, and palladium bars and coins.
While deciding whether to invest with Millennium Trust is solely your own, we need to mention that the company has an exciting fee structure. They charge a flat rate of $100/year of annual maintenance fee for holding precious metal IRAs; they also charge a flat-rate depository storage fee of $100/year.
If you want segregated storage, you’ll need to pay an additional $75, but that is all. Unlike other custodians who charge a sliding scale fee, the fee will not change even if you increase your precious metal IRA amounts.
Millennium Trust Reviews Online
Here are the current Millennium Trust reviews we found online:
BBB Rating – A+
BBB Complaints – 56 in the last three years
BCA Rating – N/A
Trustpilot – 4.2/5-star (from 14,951 reviews)
Millennium Trust Contact Information
Name: Millennium Trust Company
Address: 2001 Spring Road, Suite 700, Oak Brook, Illinois, 60523
Phone: 1-800-258-7878
Conclusion: So, Is Millennium Trust Company Legit?
The answer is yes. More importantly, you now have a lot of the essential information to decide to invest your money with the Millennium Trust Company. If you’ve got other questions, please don’t hesitate to reach out, as it is our job to do the research and provide more information to help you make informed decisions when it comes to investing. Now, I should also suggest that you read about red rock secured in addition to the other companies I’ve ranked. but definitely learn about them if you’re looking to spend less than $25,000.
About Edwin Cannon
Edwin Cannon has spent his entire career in the financial industry and specializes in alternative investments and surviving marketing turbulence. He started My Retirement Paycheck to help educate consumers about retirement investment options that aren't typically introduced by advisors.