"The growth exhibited by the Millennium Alternative Investment Network exceeded our expectations, beginning with the launch in January 2016, to attracting 15 participating platforms and finishing the year with a win at the 2016 WealthManagement.com Industry Awards, where our innovative technology was honored in a category recognizing custodians (emerging - less than $25 billion) for their technology advancements," said CEO Gary Anetsberger. Anetsberger also had a transformative year, taking the helm as CEO of Millennium Trust in March of 2016.
"As we look ahead to the next year, we will continue to develop technology and solutions that make access to alternative investments available to an even larger audience of investors and their advisors," continued Anetsberger. "At the same time, we will work with investment managers who are creating new asset classes that provide investors with a wide range of possibilities and a portfolio that's truly diversified."
During the fourth quarter, two new platforms joined the Millennium Alternative Investment Network, bringing the total of participating companies to 15. We welcomed additional platforms EquityMultiple and LendingRobot to MAIN.
EquityMultiple is a platform connecting accredited investors with shares of exclusive, pre-vetted commercial real estate deals.
LendingRobot is an automated investment tool that allows retail investors to take part in peer-to-peer lending, and was the first SEC-registered Investment Advisor in the peer-to-peer lending industry.
The year 2016 brought multiple executive moves at Millennium Trust Company including Gary Anetsberger's promotion to CEO from Chief Operating Officer, Dan Laszlo's hire as Chief Financial Officer in March, and Tom Daley's appointment as Managing Director, Alternative Solutions Group in November, bringing 25 years of experience in the financial services industry to his new position.
"We are thrilled to expand our management team as we take the next step into Millennium Trusts' future," said Anetsberger. "Our new hires will draw upon extensive professional and leadership experience as we focus on bringing awareness of the company brand to the RIA and financial advisor marketplace and beyond."
Product offerings also expanded this year, namely with the Rollover Solutions Group led by Terry Dunne, introducing a new online search tool to help individuals find unclaimed retirement funds held at Millennium Trust that they may have left behind when changing jobs. The Rollover Solutions Group finished the year on a high note, with more than 500,000 automatic rollover accounts on the books.
Additionally, Millennium's Fund Custody Group expanded its services to support funds leveraging their loan portfolios by providing verification and certification services required by the funds' credit facilities. Millennium also expanded its services to include providing custody for '40 Act Funds.
About Millennium Trust Company®
Millennium Trust Company provides innovative custody solutions for IRA rollovers, alternative assets, and funds. Millennium Trust Company is a leader in providing custody services for both alternative and traditional assets. Millennium Trust performs the duties of a directed custodian. As such, it does not provide due diligence to third parties on prospective investments, sponsors or service providers and does not sell investments or provide investment, tax or legal advice. For more information about Millennium Trust Company visit: http://www.mtrustcompany.com
Millennium Trust does not provide due diligence to third parties on prospective investments, platforms, sponsors or service providers and does not sell investments or provide investment, tax or legal advice. Millennium Trust does not endorse any platform or investment, including platforms and investments which may be reached through MAIN. The views and information regarding investments available through a platform represent solely the views of, and information provide by, that platform.
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SOURCE Millennium Trust Company