Millennium Trust Co. announces expansion

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.