Today we take a look at Millennium Trust Company. What is The Millennium Trust Company? Will it be your choice, or should you look elsewhere? These are some of the questions this short review will focus on!
Company: The Millennium Trust Company
Owner: Gary Anetsberger (CEO)
Price: Depends on your investment choice
Who is it for? Investors
Overall rating: (2.9 / 5) (Not recommended)
Important to mention (before we go into more details of this review)
We strongly recommend doing your research online before choosing a company to invest in. There are so many reviews online of clients being ripped off and scammed. So please investigate thoroughly and compare different alternatives before you make your decision.
One example: 99.9% of companies got commissioned salespeople.
Here is the thing, the #1 Recommended Gold & Silver IRA Dealer on our top-5 list got a No-commission salesfloor… So they got ZERO reasons for fear tactics or gimmicks to get a sale.
You are a smart person, so I am sure that you understand the benefits of dealing with such a company instead, right?
+They got a couple of more benefits you might appreciate as much as I do. You will understand yourself once you have visited the page (link) above.
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With that being said, let´s continue with the review on The Millennial Trust Company!
What is The Millennium Trust Company about?
Millennium Trust Company is one of the leading financial firms in the industry. They specialize in providing a wide range of administrative and custodial services to institutions, individuals, and advisors. In 2000 the company was established, and since then, its client base has increased to more than 305,000 accounts.
It means that Millennium Trust Company has more than $11 billion in assets in its custody. However, many people are interested in knowing how the company works before they can contact them for any financial advice or help. Here we have a complete overview of the company and its expert’s work.
How does it work?
The Millennium Trust Company is commonly known as a record-keeping and IRA administrative company that services millions of people worldwide. They manage more than $11 billion in their accounts which shows that the company is trusted worldwide.
They have a huge customer base to which the experts are providing a variety of services, including investment and management of traditional and alternative assets. Most of the customers have claimed that the company’s charges are higher than competitors, but they also provide a wide array of services for only $200.
You will not have to pay for any sliding scale or another hidden fee. However, if you select the segregated storage for precious metals, you might have to pay an extra $75.
P.S. If you are looking for a gold IRA, the best one I can recommend is one that got among the industry’s lowest fees and has a flawless record. ==> Click here to read about that one
The management of the company sounds excellent. It is the feature that is appreciated by most of the customers who are using their services. More than 200 experienced professionals are working for Millennium Trust Company, and most of them are working as the head management staff.
You will be surprised to know that Gary Anetsberger (the CEO of Millennium Trust Company) is an investment specialist himself, and he has experience of 35+ years in the financial industry. It should give you the peace of mind that your money is in the hands of experts.
Prices and Products of the company
The most important thing that customers want to know about is the cost of services they will have to pay. Once you work with Millennium Trust Company, you will get the option to invest in alternative or traditional investment.
There is a variety of account types you can select from. Individual investors will get the services like Solo 401 (k)s and self-directed IRA. Advisors and institutions will get different services like
- Private fund custody services
- Alternative asset custody
- Registered investment advisor services
If you are a gold IRA investor, the most important service you will get is a self-directed IRA that will provide you with the golden chance to invest in the precious metals that will be saved in your retirement account.
It is important for you to know the company’s fee schedule because that is the only way to select the top services. If you hold a precious metal IRA in Millennium Trust Company, you will have to pay $100 flat charges for the services. You will also have to pay $100 as the depository storage fee.
The total annual cost you will have to pay for holding a gold IRA will be $200 with MTC. The biggest attraction of the service is that the fee will not change or increase because of the changing value of your account. However, if you plan to have segregated storage, you will have to pay $75.
Important to mention here: If you are looking for a precious metals IRA custodian, you might want to look at our #1 recommendation as they completely waive the fees for (up to) your first 3 years and also are unique in the industry with a superior amount of positive testimonials from their clients on 3rd party client protection agencies.
Is The Millennium Trust Company a Scam?
So is The Millennium Trust company a scam? No, of course not. It got real owners and a real physical address. However, if it is the right choice for you, another story leads us to…
Other online reviews and ratings
What is always recommended (and wise) to do before you decide to invest with a particular company is to look at what some of the most well-known and trusted review and rating sites say about the company you are interested in. As always in our reviews, we provide you with their results (with clickable links):
BBB (Better Business Bureau)
Rating: (1.3 / 5) (out of 70 reviews) click here for details (opens in new window)
Rating: (2 / 5) (out of 233 reviews) click here for details (opens in new window)
Rating: (3.6 / 5) (out of 78 reviews) click here for details (opens in new window)
The conclusion from this:
As you clearly can see, there are not too impressive results. Many clients are unhappy with their service, so that could be a red flag, right? Take a look at this example review from one “not so happy” client that left a review on the Yelp website:
Under no circumstances whatsoever would/should anybody voluntarily invest their own money with this company. Their apparent business model is to incentivize companies going out of business or otherwise ending their retirement programs to allow Millenium to take over the unsuspecting employees’ accounts and then slowly drain all of the money from said accounts with their absurd fee schedule. People who are relatively early in their retirement planning and have diversified their retirement planning will pay *far* more in fees than they will ever gain from interest.
In 2017, for example, for my account with them to break even against the baseline fees, I would have needed over $47,000 in the account. Not to make it a decent investment, mind you, but TO STOP BEING WORSE THAN STUFFING THE MONEY UNDER THE MATTRESS. Anybody who has the amount of money required to see a net positive from their “investment” with this company has far better options. Even if the account was free, the interest rate is so pathetic that it would never beat inflation, much less the return on actual good investment.
Again for emphasis: Under no circumstances whatsoever would/should anybody voluntarily invest their own money with this company.
Important to mention here:
You need to know that other investment companies online have got a lot better overall ratings and reviews from their clients. However, the one that is unique and stands out among the crowd is one that got hundreds of positive reviews and closes to ZERO negative ones. It is the one that is recommended by more independent 3rd party consumer protection agencies than any other company in the industry!
The pros and cons of The Millennium Trust Company
Something that is always wise to do before making any decision is to compare a company´s positive sides against their negative ones to get a better overall view. As always in our reviews, we provide you with some clear points on both sides of the spectrum to make this job easier for you:
Some of the interesting benefits you will get by investing in the company are.
- The best thing about the Millennium Trust Company is that all their customers will get the same services and care.
- The company’s client base is rapidly increasing because they have well-established and have a good management team, which makes it impressive.
- Alternative and traditional asset investment solutions are available. It means you can easily select the services you are comfortable with.
You should consider a few drawbacks before and if investing with Millennium Trust Company.
- The fee you have to pay for metal and administration storage is a little higher, and with the segregated storage, you will have to pay more. It is not affordable for most of the clients.
- If you have segregated accounts, you will also have to pay a sliding scale fee.
- Got negative reviews online
Rapidly increasing competition
You might be surprised to know that the competition of Millennium Trust Company is rapidly increasing in the market. Many other firms are providing the same services. The only difference is that many have lower rates than the Millennium Trust Company.
However, a lot of the clients still prefer to use the services of the MTC because they are aware that reliability and guarantee that they will get from Millennium Trust Company is not available in many other places.
What makes Millennium Trust Company stand out in the industry is that they provide tailor-made services for clients. They will understand your situation and provide the best solution to meet your investment requirements, and allow you to live a prosperous life even after your retirement.
They will guarantee that if you follow their instructions and plans, you will surely have enough savings to live a relaxed life after retirement without doing any work. This is the reason most people trust the Millennium Trust Company.
**See my #1 recommended gold & silver IRA solution on this page
Do you own or represent The Millennium Trust Company?
If you are a representative or associate of The Millenium Trust Company and have found something not to be correct in this review, please, feel free to tell, and I will make sure to update the info on this post. The easiest way to do it is in the comment section below or simply by sending us an e-mail to firstname.lastname@example.org.
Final Words and verdict
Verdict: Legit (but not recommended)
Overall rating: (2.9 / 5)
I think that sums up the overall picture of this company pretty well. It is a legit one, yes. However, I would not (and cannot) recommend it because of the many negative reviews out there that are available for anyone to see.
With their IRA services, Millennium Trust Company might be a good choice for investment. No doubt that the company’s rates are higher than rivals, but they will provide you value for the money that can be hard to get from anywhere else, according to them.
With years of experience and expertise, the professional staff of Millennium Trust Company will assure to provide you with the services you need. If you need more information about their products and services, please contact them on their website.
As TMT offers a wide range of investment options, you got some research to do if you want to find the best alternative in your particular interest. However, if you are looking for gold (or precious metals in general), I recommend checking out our #1 recommended precious metals IRA custodian by clicking the link below.
I hope you found this review of The Millennial Trust Company to be helpful, and now you should have a better understanding of what they do and if it is something for you or not. If you have used any of their services, please share your experience with us in the comment section below, as it can help others. Also, if you got any questions about this review, I will be more than happy to answer them below!
I wish you success!
Founder of GoldRetired.com