Millennium Trust Company Review

June 11, 2023
Written by Peter Anderson

When it comes to managing one's finances, the idiom 'putting all your eggs in one basket' couldn't be more relevant.

Diversification is key to mitigating risk and ensuring long-term financial stability.

This is where Millennium Trust Company comes into play. With over $37 billion in assets under management, this financial services company offers a range of investment options to help clients diversify their portfolios effectively.

In this article, we will provide an objective review of Millennium Trust Company's services, products, and fee structure. We will also delve into the company's management team and examine its customer satisfaction ratings.

While Millennium Trust Company has received numerous awards for its offerings, it is essential to consider both positive and negative reviews when evaluating whether this company is right for you.

By analyzing various aspects of Millennium Trust Company, we aim to provide readers with the information needed to make informed decisions about their financial futures.

Disclosure: Some of the links in this article are from sponsors. The list below is an honest review gathered from thorough research, experience, and consumer-based feedback. 

Before we get started with this review:

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About Millennium Trust Company

The section provides a comprehensive overview of the products and services offered by Millennium Trust Company, a third-party financial services company that manages over $37 billion in assets and serves a broad customer base, including individuals, corporations, non-profits, and government entities.

The management team includes experienced professionals in the financial industry who have earned recognition for their expertise.

Millennium Trust Company is regulated by the SEC and FINRA, providing clients with an added layer of security and reliability.

Millennium Trust Company offers a wide range of trust and estate planning services to help clients protect their assets and maximize their investment potential.

It specializes in alternative assets such as real estate trusts and cryptocurrency custody.

It offers tax-advantaged accounts for education expenses (ESAs) and medical expenses (HSAs), asset management services including portfolio monitoring, risk assessment, and tax optimization strategies, as well as retirement plans for self-employed persons and small business owners.

Millennium Trust Company's mission is to provide secure asset management for clients without compromising customer service or security. Its team of experts provides personalized advice on any matter related to investments or personal finance.

Direct access to various financial resources enables clients to make informed decisions about their finances.

With its commitment to security measures through advanced technology such as encryption technology, identity verification, two-factor authentication among others; customers are assured that their funds are safe at all times.

Millennium Trust Company Management

The executive team at Millennium Trust Company (MTC) has decades of experience in the financial industry and is responsible for leading the company towards providing reliable services to help clients manage and protect their assets for the future while maintaining compliance with regulations.

Gary Anetsberger, President and CEO, brings over 40 years of experience in financial services and has held executive positions before assuming his current role in 2016. He is joined by Dan Laszlo, Executive Vice President and Chief Operating Officer, who brings extensive expertise in operations, finance, and compliance.

MTC's Chief Technology Officer, Bob Kunimura, has held the position for eight years since leaving Swiss Bank Corporation to join MTC. He is responsible for developing and implementing high-end solutions to ensure that clients' assets are well protected.

Jenifer Abernathy serves as the Chief Compliance Officer with over 20 years of experience in FINRA compliance and regulatory consulting. Jenifer also served as a senior vice president for Citigroup, giving her an extensive knowledge base in financial services which she uses to keep MTC compliant with the latest regulations.

Although MTC has won several awards and recognitions due to its excellence over the past 18 years, there have been negative reviews related to customer service issues on account management.

These should not undermine MTC's experienced management team's culture of dedication towards providing reliable services for their clients' needs while maintaining compliance with regulations.

Services and Products

This section outlines the diverse range of services and products offered by Millennium Trust Company (MTC) to meet the individual needs of its broad customer base.

MTC offers custodial accounts for IRAs, Roth IRAs, Coverdell Education Savings Accounts (ESAs), Self-Directed 401(k)s, SEP IRAs, and Health Savings Accounts (HSAs).

They provide traditional trust services such as trusts, estates, guardianships, and conservatorships.

MTC partners with employers to offer a 401(k) plan that helps their employees save for retirement.

They also offer Traditional IRA and Roth IRA accounts with the option to invest in stocks, bonds, mutual funds, ETFs, and other investments.

The company's self-directed investment options give individuals more control over their assets by providing them with a wide range of alternative investments like real estate and cryptocurrency.

MTC provides tax-advantaged accounts for education expenses (ESAs) and medical expenses (HSAs).

Their asset management services include portfolio monitoring, risk assessment strategies tailored to meet clients' needs while maximizing returns and minimizing risks.

MTC offers retirement plans for self-employed persons and small business owners through Simplified Employee Pension (SEP) and Savings Incentive Match Plan for Employees (SIMPLE) IRA accounts.

These plans come with various related services such as employee enrollment setup.

Opening an Account with Millennium Trust Company

The process of opening an account with Millennium Trust Company (MTC) is quick and easy, providing customers with a hassle-free experience. 

Customers can open an account online or over the phone by providing necessary information such as contact details, Social Security number, and identification documents like driver's license or passport.

Once the account is opened, clients can start investing in their preferred options. During the account opening process, customers are required to review and accept MTC's account agreements and disclosures.

It is recommended that customers carefully read all disclosures before investing in any product offered by Millennium Trust Company.

The company maintains a transparent fee structure that includes maintenance fees, transaction fees, and custody fees.

Millennium Trust Company offers several client services to help address any issues related to the account. However, negative reviews have been reported regarding customer service quality.

It is advisable for potential clients to weigh both positive and negative feedback before making decisions about opening an account with MTC.

Millennium Trust Company Fee Structure

Investors who choose to invest with MTC should be aware of the various fees associated with their accounts. The fee structure varies depending on the type of account opened and the level of service selected.

Three common fees include maintenance fees, transaction fees, and custody fees.

The maintenance fee covers the cost of maintaining accounts such as processing deposits and withdrawals. Investors pay a $50 establishment fee and a $100 annual fee for each account opened.

On the other hand, transaction fees cover the cost of executing trades and investing in securities. Prices vary depending on the type of security traded and number of transactions made.

Investors should also take note that MTC charges a custody fee that covers protecting assets in a client's account.

This fee is charged on the total value of assets held in an account and ranges from 0.02% to 0.125%.

It is charged on both traditional (stocks, bonds, mutual funds) and alternative (private equity, real estate, gold) assets held by investors who have chosen asset custody solutions from Millennium Trust Company Review.

Pros of Millennium Trust Company

We will examine some of the pros of using their services:

  1. Experienced Management Team: The top executives at Millennium Trust Company have a wealth of experience in the financial industry, making them well-equipped to provide sound advice and assistance to investors. This gives clients peace of mind knowing that their investments are being handled by professionals who understand market fluctuations and can respond accordingly.
  2. Broad Customer Base: Millennium Trust Company caters to a broad range of customers, including individuals, corporations, non-profits, and government entities. This means that they can offer tailor-made solutions to meet the unique needs of different types of investors.
  3. Positive Business Outlook: Based on its track record and business model, Millennium Trust Company has a positive business outlook which is reflected in its job openings for career-minded job seekers seeking upward mobility opportunities within the organization while providing professional development opportunities to enhance their skills.

These factors make it clear why many Millennium Trust Company reviews speak positively about their services.

Investors benefit from having access to diverse investment options while receiving guidance from experienced professionals with a positive business outlook ensuring clients receive excellent support and service across board irrespective of account size or social status.

Cons of Millennium Trust Company

One potential drawback of using the services offered by Millennium Trust Company is the relatively high fees associated with maintaining accounts and storing alternative assets.

This may be a concern for investors looking for more cost-effective options, particularly those interested in investing in gold or other non-traditional assets that require storage fees.

The high fees charged by MTC might deter some investors from choosing this company as their financial partner.

Apart from high fees, another issue that has plagued MTC is poor management and lack of direction.

Some customers have complained about the leadership at this financial institution, citing issues like lack of security protocols and inadequate customer service.

These concerns have resulted in negative reviews and low ratings for the company on various review platforms.

While Millennium Trust Company offers a range of investment options and asset management services to its clients, there are several cons associated with its operations.

In addition to high fees, poor management practices and lack of direction can be significant drawbacks for customers seeking reliable financial partners.

Investors should conduct thorough research before deciding to work with MTC or any other similar financial institutions to ensure they align with their personal financial goals and needs.

FAQs About MTC

Frequently asked questions (FAQs) about MTC, a company that offers custodial services and investment advisor services for alternative asset custody solutions.

Is MTC Legit?

The legitimacy of MTC is unquestionable as it has been in operation since 2002 and is insured and regulated by the FDIC and SEC, respectively.

As part of its efforts to maintain transparency, MTC encourages investors to book in-person appointments at their physical location.

How Do I Open an Account with MTC?

To open an account with MTC, one must complete the online application form and provide proof of identity such as a driver's license or passport. Once approved, your report will be opened instantly.

It is important to note that while MTC's fees are relatively high compared to other financial institutions, its diverse range of investment options allows investors to diversify their portfolios effectively and manage risk efficiently.

Is My Money Safe With MTC?

In terms of safety measures, MTC employs various security measures to protect customer information and accounts from fraud or theft.

Hence, customers can rest assured that their funds are safe with the company.

Millennium Trust Company review shows that it is a legitimate financial institution offering reliable custodial services and alternative asset custody solutions with transparent fee structures but relatively high costs compared to other financial institutions.


Millennium Trust Company offers a wide range of financial services to individuals and organizations.

With over $37 billion in assets under management, the company provides investment options that include traditional and alternative assets.

While there have been negative reviews about customer service and account issues, it is important to consider the many positive aspects of this company as well.

One major advantage of Millennium Trust Company is its diverse selection of investment options.

Clients can choose from a variety of traditional and alternative assets, which allows them to diversify their portfolios and manage risk effectively.

The company has won several awards and recognitions for its services.

However, it is important to note that some clients have reported negative experiences with customer service and account issues.

This should be taken into consideration when deciding whether or not to open an account with Millennium Trust Company.

It is recommended that potential clients do their own research and carefully consider all factors before making a decision on their financial future.

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