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Millennium Trust Company Review – Get to Know More About This IRA Custodian

If you have been paying attention recently, you will know that the global economy is going through a very rough patch right now. Just how long and how serious this economic instability will be is yet to be determined.

Many investors have begun looking towards alternative assets as a possible solution during this period of economic uncertainty. This has resulted in the emergence of many companies offering various investment opportunities, such as opening self-directed IRAs.

If you are one of these investors, you will need to find effective custody solutions to ensure that your retirement funds are in the right hands. However, with so many companies offering similar services, finding a team of dedicated people to handle your accounts is not easy.

In this review, we will look at a company that has emerged as a great option for investors looking for a haven for their retirement funds. Millennium Trust Company is uniquely qualified to handle all your needs as an investor. Read on to find out why we recommend working with this experienced custodian!

Advisory!  Prior to diving into this review, we’d like to stress that at Investors Circle, our mission is to protect your wealth.  We know that our research reports may alter your investment decisions, so we want to be 100% sure you are investing your hard earned money with the right company!

With this in mind, we urge you to check out our list of the top five companies in this space (we found 1 that fits 99% of investors needs)

>> Click Here To View Our Updated List of the 5 Best Companies <<

See if Millennium Trust Company made our list this year, or continue with this review below to see if they are possibly the right company for your investment needs.

Review Highlights

Before we deep-dive into this review, let us look at the most important findings that all investors need to know about Millennium Trust Company:

  • Over two decades of experience

  • Great reviews from its clients

  • Wide range of services

  • Transparent fee structure

A Brief Look at Millennium Trust Company

Millennium Trust Company

As the interest in investing in alternative assets has steadily grown over the last few decades, Millennium Trust Company is one of the custodians that has emerged to meet this growing demand. It was established in 2002 and has been regarded as a top IRA custodian ever since.

The company’s headquarters is in Oak Brook, IL, but its reach extends across the entire country. Through the provision of a wide range of services, Millennium Trust Company can assist investors in opening a wide range of retirement accounts, such as:

While Millennium Trust Company is ready to meet all the needs of clients looking to diversify their retirement portfolios, the custodian is not in a position to offer financial advice to its customers. In other words, if you are planning on investing with Millennium Trust Company, you have to be clear on what you want.

However, not specializing in offering investment advice to clients does not undermine the various advantages of putting your trust in Millennium Trust Company. If you are looking for a custodian that offers you complete control of your investment accounts, this is a great choice to consider.

Meet the Team

In the investment business, the success of a custodian depends heavily on the abilities, expertise, and trustworthiness of the team behind it. It is not easy becoming the top-rated custodian in Oak Brook, IL.

The secret behind Millennium Trust Company’s growth over the years is the work being done behind the scenes by the following team members:

Gary Anetsberger

Gary brings over four decades of industry experience with him and is one of the key figures responsible for the Millennium Trust Company being the huge success it is today.

As a former employee of other big names in the financial sector, such as ABN AMRO Asset Management and Stein Roe Mutual Funds, Gary has a great understanding of how investment accounts are managed.

This knowledge led to Gary Anetsberger being nominated CEO of Millennium Trust Company in 2016. Since then, he has worked hard to drive the upward mobility of the company and help it reach all its goals.

Erik Beck

The man behind the effective market strategy employed by Millennium Trust Company is Erik Beck, the company’s CCO. Erik joined the custodian in 2019, but even before that, he has always been passionate about helping clients find solutions to their investment needs.

This passion has helped Erik execute his duties well at Millennium Trust Company, which include overseeing client services and relationship management.

Jenifer Abernathy

Compliance is a very important issue in the investment management business. A company that is charged with non-compliance loses its credibility and the trust of its clients. To prevent this from happening, Millennium Trust Company hired Jenifer Abernathy as the Chief Compliance Officer in 2007, and she has been guiding the company ever since.

Dan Laszlo

As the Chief Financial Officer of Millennium Trust Company, Dan Laszlo has many years of industry experience from the time he was in charge of private equity and investment banking for his previous employer, William Blair and Company. He also holds a bachelor’s degree and MBA from the Kelley School of Business at Indiana University.

Bob Kunimura

With three decades of experience, of which eight years were spent at Millennium Trust Company, Bob Kunimura, CTO, is one of the most experienced team members at the company. He brings with him a wealth of expertise from his previous employer Swiss Bank Corporation, where he was the CTO.

What Millennium Trust Company Can Do for You

Millennium Trust Company Offers

If you are looking for a safe and reliable place to invest your retirement funds, Millennium Trust Company offers awesome custody solutions to meet your needs. The company is ready to assist all its clients with the following:

Invest and Diversify Your Retirement Funds

More than ever, it is important for investors to find other means of investing their hard-earned money besides keeping it as fiat currencies that are vulnerable to market volatility. Millennium Trust Company can help you find better ways to invest your funds by opening IRAs that come with lots of tax advantages.

Open Traditional Investment Accounts

While everyone is talking about alternative assets these days, traditional investments are still worthwhile considerations. At Millennium Trust Company, you can be assisted to invest and trade in ETFs, mutual funds, and stocks. There is still a lot of great potential for good returns in such investments as long as investors have the right guidance.

Account Management

Knowing the best way to diversify your funds is great, but how you manage your accounts after diversification is equally important. Millennium Trust Company assists clients with the day-to-day running of their accounts by handling crucial processes, such as:

  • The setup and maintenance of all accounts

  • Transaction management

  • Tracking and reporting of all account activities

  • Compliance with IRS rules and regulations, as well as submission of tax reports

The Services Offered by Millennium Trust Company

How does Millennium Trust Company help its clients to safeguard their funds for retirement? Well, the company has many services that it offers, such as:

401(K) Plans

Millennium Trust Company offers the setup and management of 401(K) plans on behalf of companies that are trying to limit their administrative expenses. A 401(K) is a retirement plan in which employees and their employers make contributions towards the same account on behalf of the employee.

When a current or former employee reaches the age of retirement, they will be able to access those funds. Such retirement benefits are often used by companies to attract the best employees from the pool of prospecting candidates during the interview process.

Traditional and Roth IRAs

Other types of retirement portfolios that are popular among Millennium Trust Company’s clients are Roth and Traditional IRAs. These options allow a greater deal of control of the account, which attracts a lot of investors.

When you open a Traditional or Roth IRA, you also enjoy a wide range of tax benefits, such as withdrawing from or depositing money into the account without paying any taxes. It is important to choose the right type of IRA to suit your needs.


SIMPLE IRA stands for Savings Incentive Match Plan for Employees, while SEP IRA stands for Simplified Employee Pension. These are two of the most common self-directed IRAs chosen by investors.

These IRAs come with low administrative costs compared to other types of retirement accounts, which is why they are favored by many smaller companies. When clients open a SEP or SIMPLE IRA at Millennium Trust Company, they enjoy working with a custodian that offered a lot of flexibility to its customers.

The money that is deposited in these self-directed IRAs is also tax-deferred, meaning you will only pay taxes on it when you make your withdrawals. Another great thing about opening either a SEP IR or SIMPLE IRA is that even self-employed individual investors can open one too.

Millennium Trust Company Fee Structure

In the IRA industry, a company needs to have an open and transparent fee structure. With so many scammers in the industry, customers are quick to mistrust any custodian that is not open about its fees. The following are some of the fees you should expect to pay when you open an account with Millennium Trust Company:

Setup and Annual Fee

Looking at the amount required to open an account with Millennium Trust Company, it is clear that the fees are comparable with other custodians out there. All you will need to do is pay a once-off payment of $50, and your custodian will have your account up and running in no time at all.

However, you also have to remember that you will be required to pay an annual fee of $100. This too, is comparable to many other custodians. Unlike the setup fee, you will be expected to pay this $100 every year to ensure that your account is managed.

Custodial Fees

All IRA investment companies charge custodial fees, either annually, quarterly, or monthly. At Millennium Trust Company, you will be expected to pay an additional $100 on top of the annual fee already being charged.

Some companies charge custodial fees as a percentage of the overall value of the account. However, at Millennium Trust Company, you will be charged based on the number of different assets you have invested in, and the value of these assets.

Processing Fees

Different assets need to be processed differently, and as such, Millennium Trust Company has different processing fees for each one. Your custodian will advise you on how much you should expect to pay for the type of investments you have.

Fees for Various Assets

Whether you choose traditional or alternative assets for investment, you will be charged separately for each asset. If you invest in Forex, for example, you will be charged $200 for this alternative asset, while traditional assets, such as mutual funds, will carry a fee of $25.

There are many other types of assets you can invest in, so a lot of research is required since Millennium Trust Company does not provide financial advice as one of its services.

Pros and Cons of Investing With Millennium Trust Company

As with any IRA custodian out there, there are pros and cons associated with investing in this company. You have to look at your circumstances and decide whether this is the best option for you. Consider the following:


  • 100% support, care, and services to all customers

  • Highly experienced and knowledgeable team

  • Trusted custodian among investors

  • No hidden fees

  • Many investment options


  • High administration, account management, and processing fees

  • Online negative feedback from customers

Customer Feedback and Reviews

This type of business relies heavily on providing excellent services that lead to positive customer feedback. In this regard, Millennium Trust Company has a lot of work to do.

On two of the leading platforms for trusted reviews, Better Business Bureau and Google Business, the company has a lot of reviews. Unfortunately, there are quite a lot of negative reviews about Millennium Trust Company on these platforms, which the company has to deal with.

Looking at Better Business Bureau reviews, you will find several customers complaining about service issues that the company is yet to resolve. Ideally, any negative feedback from customers needs to be addressed as soon as possible to ensure that investors have a great experience working with Millennium Trust Company, which is not the case here.

These negative reviews and slow responses from Millennium Trust Company have caused the company’s BBB rating to plummet, which will affect the confidence of any potential investors. One of the key areas that may need to be addressed is finding a way to offer customers financial advice so they do not make the wrong choice and end up blaming the company for this.

Millennium Trust Company Employee Reviews

If you want to get a feel for how a company works and whether it is reliable or not, one way of doing this is to look at any current or former employee of the company.

Many happy employees are quick to praise Millennium Trust Company as a great place in terms of work-life balance and other employees. It is also described as being productive and showing potential for more growth, which is something that will encourage future investors.

Final Verdict

As a company that has been in business for over 20 years, and that has a high number of reviews on BBB and Google Business, it is not surprising that Millennium Trust Company has a few negative reviews that it needs to take care of.

As soon as it deals with these service issues, it will become a much better place to invest your funds. In the meantime, you should not be afraid to open an IRA account with this custodian. A lot of these issues can be avoided if you simply do a lot of research before selecting an investment option.

A self-directed IRA account requires a lot of decision-making on your part, and if you get that right, you will find investing with Millennium Trust Company to be a great experience.


How Much Do Investors of Millennium Trust Company Pay for These Services?

The total amount of fees you have to pay as an investor depends on the type of account you open and the assets you invest in. Besides the annual fees, other costs will apply to your circumstances. Your custodian will be able to guide you better.

Is This Custodian a Good Option for Individual Investors?

Yes, as long as you are willing to do the necessary research before investing in any type of retirement account or investment assets, Millennium Trust Company is a great place to invest your funds.

How Legitimate and Trustworthy Is Millennium Trust Company?

While there are a lot of negative reviews about Millennium Trust Company, there is no doubt that the company is legitimate and trustworthy. Its history is traceable over the last couple of decades it has been operational, and its leadership is top-tier.