Millennium Trust Co. announces expansion

Millennium Trust Co. announces expansion
Acquires Liberty Trust Company, custodian for specialized Individual Retirement Accounts.
DEC 03, 2019
By  Bloomberg
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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