Millennium Trust Review 2024 | Everything You Need To Know

It’s more important than ever to invest in the future. According to Bloomberg, the US markets had already hit a historic high inflation rate—even before oil prices started skyrocketing. That means that a dollar today isn’t even worth what it might’ve been just last year.

With investment opportunities popping up seemingly every day, it’s vital that we do our research, and find an ally in the retirement planning field. That’s why I’ve done this review of Millennium Trust Company. Not only do they manage nearly $40 Billion in assets, but they have been dedicated to serving individuals for years.

Table of Contents

Who is Millennium Trust

Millennium Trust was founded over twenty years ago, in 2000, and has since partnered with two other recognized financial leaders, Abry Partners and Parthenon Capital. Under the leadership of Gary Anetsberger since 2016, Millennium now manages $39.9 Billion in assets, and serves 2.5 million clients.

Millennium has been recognized on the Crain’s Chicago Business Fast 50 list, and was honored in 2018 by LendIt Fintech USA.

Millennium not only works hard to grow your assets, but they have also been recognized by Business Insider and Mass Mutual as leaders in the retirement planning business.

One key aspect of Millennium Trust’s business is that other, less successful IRA and Self-Directed IRA companies have given over trust of their assets and accounts to Millennium. If you’re reading this review because you have received a letter in the mail, check out our section called “Education Services.”

Pros and Cons

While we didn’t find much to quibble with at Millennium, we did want to have an honest review of their company. The main takeaways are that if you have significant rollover from an existing IRA, and want more control over your assets, then Millennium might well be the best option for you.

PROS

Recognized leader in the field.
Over $17 Billion in assets from individuals.
Over 40,000 unique types of assets held in custody.
Options ranging from commodities to real estate.
Upfront pricing on all fees for Self-Directed IRAs.

CONS

Perhaps best for people with existing IRA assets.
Large website might be difficult to navigate.

You Can Trust Millennium

Before I recommend any company, I like to dig as much as I can into their reputation. It’s one thing to note that they handle a lot of assets, but it’s another thing altogether to note that Millennium is serving over two million individuals, just like you and me.

They have an average 4.2 out of 5 rating from Trustpilot, and the reviews on that site are exemplary. In the spirit of an honest review, I should note that they haven’t had as good reviews on Yelp or the BBB website. However, I did see that Millennium engaged with nearly every single bad review they had. This can mean more than what an initial review is, because it shows that Millennium cares about not only their reputation, but about their customers—even when the customer is unhappy.

Education Services

Because Millennium offers such a wide range of services, it’s important to them that they provide you with as much information as possible about those services. It’s in their best interest to have your best interests in mind.

One of the most important services that Millennium Trust offers is that they take over IRA account management when other companies can no longer fulfill that function. If that’s what’s happened to your own account, that’s called a “Rollover.” The great news is that Millennium is there for you.

When you go to their website and click the “Offerings” tab, follow down to the “Rollover Accounts” button, and click there. Then you’ll see a very helpful video explaining how your assets came to them.

After you’ve watched that, or if you skip it because you’re already aware, then Millennium offers you easy to follow steps on what to do next.

New Client Education

If you’re not a rollover client, and you’re looking to Millennium Trust for your retirement needs because you’ve found out what a great company they are, then you should click on their Offerings tab, also, but click down to “Self-Directed IRAs.” There you can read all about what kinds of holdings they can take over for you.

In addition, they also have a very useful resource library of forms that everyone should have at the ready, from Beneficiary guidelines to checklists for opening new accounts.

Millennium Trust’s Fees

Millennium Trust has a fee schedule because they handle so many different types of assets. We recommend checking their website for up-to-date fees, but we’ve provided a few examples below:

Hedge Funds and Private Equity (through Millennium): $100.
Futures: $200.
Real Estate: $600.
Mutual Funds (online): $0.

With prices that range from free to only a few hundred dollars, Millennium’s fees are quite competitive. Not only that, but they offer assets from precious metals to CDs.

Services provided by Millennium Trust

Millennium Trust has literally dozens of services they can provide. Here are just a few of the highlights we found were particularly useful from them, that we don’t see from everyone out there.

SEP IRA: This is for Self-Employed people to have all the same benefits of an IRA that folks in the traditional work force enjoy.
Self-Directed IRAs: The most common form of these IRAs are for precious metals, but other forms of Self-Directed IRAs exist, as well. As a custodian of over 42,000 asset types, Millennium Trust can handle any avenue you want to invest in.
403(b) Plans: Not many asset managers will handle 403(b) accounts because, frankly, they don’t have the know-how. But at Millennium Trust, they have the expertise and the variety of asset management experience necessary to help you grow and fund your retirement plan, now matter how it was originally funded.

What Sets Millennium Apart

While other asset managers often have to turn specialty accounts over to partners, we found that Millennium is actually the expert that other companies go to. This means that you never have to worry about having a retirement plan that Millennium can’t help with. They are the experts the other “experts” turn to.

Management: When other financial services companies look for a partner, they find Millennium Trust. And it’s because they are trustworthy and capable. When your IRA or annuity is handled by Millennium—whether you rollover or start with them—you know your money, and your future, is in good hands.
Variety: There is almost no retirement plan that Millennium can’t help with. They provide Self-Directed, Traditional, and Roth IRAs, with real estate and private equity experience to boot. That means whatever your future leads to, Millennium can help get you there.
Partnerships: In addition to their partnerships with Abry and Parthenon, Millennium has also formed professional relationships with a number of Fortune 500 companies. Some of them are major players in the financial world, and Millennium brings that prestige to your assets, as well.

The Verdict

If you’ve found that your IRA has been transferred to Millennium, or if you’re looking for a new manager for your assets, we recommend Millennium Trust Company. They have a proven track record of financial solubility and fair play that partners with their record of growing wealth.

Sometimes the numbers tell the story best, so we’ll end with some of the data that we started with. Millennium manages almost $40 Billion in assets, spread out over 2.5 million individual customers. Maybe it’s time to add yourself to their winning team.

FAQs

Their Website Doesn’t Say Gold IRA; Can They Handle Precious Metals?

Yes, they absolutely can. The reason they don’t bill themselves as a Gold IRA company is that in financial circles, “Gold IRA” can denote a company that only handles precious metals. But Millennium handles everything, including bullion.

Where Can I Find Their Fee Schedule?

Click on “Offerings,” then “Self-Directed IRAs,” then scroll down about three-quarters down the page, and click the button that says “Fee schedule.”

What Are “Alternative Asset Types”?

These are holdings that Millennium can help you with beyond mere stocks and bonds. These markets can be riskier, but they can also protect your portfolio amid economic uncertainty.

Why Was My IRA Transferred to Millennium?

That’s a question really only your employer, old IRA manager, or Millennium can answer. The good news is, like we mentioned above, they have a responsive and knowledgeable staff, as well as education tools available to help you get those important questions answered.

Where is Millennium Located?

Millennium Trust Company is based out of Illinois, though they operate with and for clients all over the country.

About the Author James Holland

James is a certified financial planner who helps retirees and pre-retirees make the most of their money. He has more than 10 years of experience in the field, and he knows how to help people plan for retirement on a budget. James also offers advice on estate planning, long-term care, and other aspects of retirement planning.

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