Millennium Trust Company is a large IRA custodian – with almost $5 billion under custody and more than 170,000 clients. Millennium Trust Company was founded in 2000, and is located outside Chicago, IL in Oak Brook. Below you will find more information about Millennium Trust Company. If you have personal experience working with Millennium Trust Company, please make sure to share with the community in the comments section at the bottom of the page (if your comment is negative, please keep it civil and constructive).
Millennium Trust Company Licensing:
Custodial type: Non-depository Trust Company
State where licensed: Illinois
Date license acquired: 11/29/2000
Millennium Trust Company Clients:
Clients: 170,000+
Assets under custody: +/- $4.6 Billion
Client Protections
Better Business Bureau (BBB) Accreditation: Company is not accredited by the BBB
BBB file opened: November 03, 2003
To view the complaints brought against Millennium Trust Company, view the company’s BBB profile.
Millennium Trust Company’s Leadership & Staff:
CEO: T. Scott McCartan
COO: Gary Anetsberger
Staff size: 150
Millennium Trust Company Location:
Oak Brook, IL 60523
Fee Schedule for Millennium Trust Company Self-Directed IRAs
The fee schedule for Millennium Trust Company self-directed IRA accounts can be found here.
Other Products Offered By Millennium Trust Company:
Health Savings Accounts (HSA)
Solo 401(k)s
Millennium Trust Company’s Contact Information
Phone: 800-258-7878
Fax: 630-472-5969
Email: info@mtrustcompany.com
Hours: Monday-Friday 8:00 AM – 4:30 PM CST
Website: mtrustcompany.com
We do our best to ensure that all the information provided above is accurate, however, if you find something is in error, or if you have new information on Millennium Trust Company which warrants addition to this page, please email us at info@nuwireinvestor.com.
Harvey Kluvers says:
I invested $130,000.00 in an IRA with Millennium Trust. Their employees funneled the money into a Ponzi scheme and ran the IRA into bankruptcy. I received only one payment of
$1881.64 as a settlement . Harvey Kluvers hdkluvers@gmail.com
Ed Seibert says:
I have sent in the paperwork to get my rollover 401K liquidated. Got a phone call back saying that I didn’t fill out the paperwork correctly therefore, they couldn’t help me. Some time later registered with them online and was told it would be liquidated by way of a debit card that would be mailed in 10 days. Well, 35 days later no debit card and not able to get to anyone on the telephone. Meanwhile, my account value is $678.55 lower due to market and fees. Unbelievable!
Neil says:
I have had very little problem getting in touch with a live person at Millenium Trust and their fees are way lower than the bank I had the money with prior to Millenium Trust. Fidelity or TD Ameitrade may be cheaper but I cannot do the investments in real estate or futures with them that I can with Millenium. Although the paperwork is frustrating for Real Estate with them.
Jeffrey D Barron says:
I have tried on numerous occasions to try and contact Millennium Trust in regard to my IRA with no response. I believe that once they have your money they are no longer interested in you other than the exuberant fees they charge. All I want to do is to either cash out my account or move it to someplace else but to no avail. STAY AWAY
Linda Eckerly says:
Forget trying to get through to Millennium Trust and talk to a live person. After 5 voicemails and emails over 4 months, I was finally able to get to their customer service person who was one of the most arrogant nasty persons who refused to help me. Their fees are the horrendous and over priced, errors on statements and over another 3 months to get my IRA out of there with more fees. Management will not take your calls. Stay away.
Robert Fucci says:
Have you googled the number of lawsuits against millennium?????
admin says:
Robert,
Do you have a specific lawsuit that you find concerning, and feel like potential investors should look closer at? If so, please add a link to that in the comments here so investors can make sure to properly evaluate it before choosing their custodian.
We want to be careful, though, about just throwing out statements like this without providing additional information. What we do know is that Millennium (like many other custodians), was implicated in lawsuits tied to fraudulent investments (ponzi schemes, etc.), however, those situations typically had more to do with bitter clients who made bad investment choices rather than actions of the custodian. Custodians aren’t in the business of validating investment opportunities, they simply are the ones who hold the investments on behalf of clients. In any lawsuit people are going to implicate as many people as they can in an effort to get money, and just because a company was implicated, doesn’t mean they were at fault, or are a bad company to work with.
So again, we definitely invite you to post additional information about the lawsuits, but specifically we would be looking for instances in which they were found at fault rather than just named.
Thanks again for your feedback Robert, and we look forward to sharing what you are able to find.