NEW YORK, May 5, 2011 /PRNewswire/ -- Millennium Trust Company, a leading administrative and custodial services provider, announced today that it has implemented InnoTrust, Innovest Systems' trust and wealth management platform. InnoTrust now provides Millennium Trust Company with a cost-efficient and highly customizable solution to support the account administration, investment management, custody and reporting needs of its institutional and individual clients, as well as its automatic rollover solutions.
Innovest Systems' flagship product, InnoTrust, is a secure, integrated, real-time trust accounting and reporting technology platform provided in a highly flexible and scalable Software as a Service (SaaS) model. This browser-based open architecture system comprehensively addresses the needs of trust companies, banks, private banks, retirement plan administrators and others that need to control, account for, and report on assets held in trust and custody accounts.
"Working with Innovest, Millennium Trust Company expects to further streamline its operations, reduce its technology costs, and deliver a more customized solution to its clients," said Gary Anetsberger, Millennium Trust Company's chief operating officer. "The InnoTrust platform offers state-of-the-art technology that can be readily and cost-effectively tailored to meet the unique needs of our firm and our clients. We have found Innovest to be a very capable strategic partner in providing support for our business. This was critical during our time-sensitive and complex system conversion and will continue to be important as we move forward."
William Thomas, Innovest's chief executive officer, said, "We are pleased to be working closely with Millennium Trust Company, a leader in offering secure and efficient administrative and custodial services to a wide variety of individuals, investment professionals and institutions. We look forward to providing Millennium Trust with a full-featured, highly secure trust and custody solution it can depend on to improve processing, increase efficiency and expand functionality."
About Innovest Systems
Innovest Systems is a financial technology firm that provides technology-driven solutions to trust and wealth management companies. With assets worth tens of trillions of dollars transferring between generations over the coming decades, Innovest's flagship product, InnoTrust, is designed to deliver a secure, integrated, real-time system offered in a Software as a Service (SaaS) model. Innovest's technology is designed to meet the needs of smaller independent trust and wealth management companies, as well as the world's largest global financial services firms. Innovest is headquartered in New York City. For more information about Innovest Systems, visit www.innovestsystems.com.
About Millennium Trust Company
Millennium Trust Company is an industry leader in administrative and custodial services. Millennium custodies alternative and traditional assets in IRAs, Solo 401(k)s and custody accounts, creates customized Automatic Rollover programs, provides integrated Health Savings Account solutions and designs unique trading platforms for Investment Advisors. Millennium had 132,000 accounts with total assets under custody exceeding $3.7 billion as of March 31, 2011. Additional information about Millennium Trust Company may be found at www.mtrustcompany.com.
Millennium Trust performs the duties of a custodian and, as such, does not provide investment advice or sell investments, nor offer any tax or legal advice.
SOURCE Innovest Systems