Millennium Trust Introduces New Leadership Roles and Expands Product Offerings in the Third Quarter

USA - English

• USA - English

OAK BROOK, Ill., Nov. 15, 2019 /PRNewswire-PRWeb/ -- Millennium Trust Company, LLC ("Millennium Trust"), a leading provider of retirement and institutional solutions, finished the third quarter of 2019 with $27.4 billion assets under custody in more than 1.3 million accounts. The firm was recognized by Inc. Magazine as #2034 on the Inc. 5000 list of fastest-growing, privately held companies in the U.S., jumping 1,000 spots in one year.

Earlier this quarter, the firm welcomed Erik Beck as Chief Growth Officer to deliver innovative solutions for the retirement and investment industries, develop and expand relationships and continue to grow the business. Mark Jung joined the firm's board of directors to provide new talent and expanded expertise on the board.

"We are very pleased to see continued positive results throughout 2019 as we head into the fourth quarter," said Gary Anetsberger, CEO of Millennium Trust . "We owe our continued growth and evolution to our strong relationship with our clients, which inspires us to provide innovative solutions and the highest levels of service."

As part of the firm's commitment to increasing access to retirement savings options, Millennium Trust introduced its Workplace Savings Solutions, which provides simple and cost-effective IRA-based alternatives to 401(k) plans. In conjunction with Workplace Savings Solutions, the firm developed the Retirement Savings Selector Tool for Small Businesses as a free, easy and completely agnostic way to help small employers and advisors find the right retirement savings option.

Retirement Services also continued its mission to help Americans better prepare for retirement through its automatic rollover IRA product, the industry-accepted solution for reconnecting missing 401(k) plan participants with their retirement savings. To date, the firm has implemented more than 105,000 agreements with plan sponsors and has opened more than two million rollover IRAs.

"In my 40 plus years in the industry, I have seen ideas, opinions and solutions regarding how to help Americans save for retirement shift many times," said Terry Dunne, Managing Director of Retirement Services. "What is widely agreed on today is that many Americans are unprepared for retirement. There is still much to be done in the industry, and I feel optimistic and excited about what Millennium Trust is doing to prevent leakage from the retirement system and increase access to retirement savings options."

Institutional Custody Services ended the third quarter with $13.7 billion in fund assets under custody in more than 500 private and public funds. The firm also continues to focus on building its self-directed IRA and alternative assets business, which has grown 21 percent year-to-date versus the same period in 2018. The team demonstrated its expertise in delivering specialized custody solutions for alternative assets, with almost 18,000 unique assets under custody at the end of the quarter.

About Millennium Trust Company®
Millennium Trust Company is a leading provider of specialized retirement and institutional custody services with more than 1.3 million accounts holding over $27 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.

Millennium Trust Company® and Above and Beyond Custody® are registered trademarks of Millennium Trust Company, LLC in the United States.

© 2019 Millennium Trust Company, LLC. All rights reserved.

SOURCE Millennium Trust Company