Millennium Trust Co. announces expansion

Acquires Liberty Trust Company, custodian for specialized Individual Retirement Accounts

Dec 3, 2019 @ 1:52 pm

By InvestmentNews

Millennium Trust Company, an Oak Brook, Ill.-based provider of retirement and institutional services, has acquired substantially all of the assets of Liberty Trust Company, a Dallas-based provider of custody and administration services for specialized individual retirement accounts.

[More: United Capital adds $800 million in AUM through two acquisitions]

Liberty Trust client accounts represent approximately 10,000 IRAs and $800 million of retirement assets under custody, including self-directed IRAs holding privately held or alternative assets, as well as automatic rollover IRA accounts originating from corporate retirement plan sponsors.

[Recommended video: Ed Slott: Make sure your small business clients consider this before they convert IRAs to Roths]

Millennium Trust has over 1.3 million client accounts holding over $27 billion in assets.

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