Millennium Trust Company Spring Rd, Oak Brook

My funds were transferred to this custodian after Capital One decided to get the hell out of the IRA business. I received an email from Capital One giving me the option of going to MT or getting a distribution. Unfortunately, at the time I was extremely preoccupied and totally forgot to advise Capital One I wanted a distribution. As a result, my funds ended up at MT. In early February I decided to read reviews on MT. Having a family business our stellar reviews is what separates us from everyone else. Once I started reading MT reviews I started having anxiety attacks. I honestly felt very uncomfortable having a substantial amount of my retirement money sitting in that institution. The part that also made me feel uneasy was the fact that to this date I have never received a “welcome” email or letter from them. Finally, on 3/22 I decided to transfer the funds to another custodian, one that I knew was very reputable. On 4/8 I decided to call MT and find out status of my transfer request. Spoke to a very sweet person by the name of Jasmine. After several minutes on hold (felt like eternity) Jasmine came back on to tell me that my funds had been transferred as of that date. I checked the other custodian and sure enough the funds were there!! I asked Jasmine if there was a survey she could send me so that I could provide her positive feedback. I was told that was not possible. Jasmine was very flattered of what I wanted to do. Hopefully this review will provide her additional gratification. So, my 3 stars is an average of 5 stars for Jasmine and 1 star for MT for their lack of customer appreciation.

Worst company EVER! Avoid at all costs. Unresponsive, unhelpful, they only want your money then you are not able to access as needed. Try calling them.... AI wants to send you a link to the website... Try to get a Human is utterly impossible. I have been trying to get a distribution from an account that Capital One moved to MT, SIX months later... still trying to accomplish this ONE single task.

I felt compelled to update my review of Millennium Trust Co. Subsequent to my initial review the Company has bent over backwards to fix the issues we initially had! Maybe chock it up to growing pains but I have decided to stay with them for the long hall. They have really stepped up their response times and accuracy and have proved they can go above and beyond! Thank you Millennium Trust for truly earning my business back. I now give you 5 stars and look forward to an ongoing business relationship! ********************************************************************* Worst Trust Co I have ever worked with. Only gave them a 1 because a Zero was not available. Their attention to detail and Fiduciary responsibly is sub par. So many mistakes! They send checks to the wrong locations even though specifically detailed in the request. Have received checks that were meant for other clients. Returned paperwork is not thoroughly reviewed for all details required. Have had to send sales documents back to them for missing initials and signatures. Their web site is hard to maneuver and locks one out constantly. Total waste of time. Can not wait to move to a more secure and professional company.

I've been with this company for a few years now since they bought out my old Self-directed IRA company. I'll cut to the chase and let you know they are terrible! Their response time is horrific. If they say 3-7 days, you'll need to give them 3 weeks. They charge fees for everything and are great about making excuses with the most common one being, "It is being processed", which is really code for "it's sitting on someone's desk." I can't transfer my accounts from them fast enough!

Zero stars! My former employer transferred my IRA to this awful place. If you want to push your frustration to the max- just try to use their website. IT’S ABSOLUTE GARBAGE!! I sent numerous emails, called every day shanking and crying from frustration how difficult it was to get a hold of my account. Be prepared to face dead ends on every step you try to navigate. I wasn’t planning on closing my account, but I did just that just so I don’t have to deal with them again.On top of that, I got my tax documents from them TODAY, May 31st, 2022! And fees, fees, and more fees, but I hope I never hear their awful name ever again. Edit: no, I’m not using my real/full name. Save your lame excuses.

This company is not Fidelity or Charles Schwab. That's for damn sure. Its bad enough this company hasn't followed suit in the "no transfer fees" unlike their competitors who I'm sure are no match in mirror comparison. I was on the phone with the rep only to fill out their forms myself, receive delayed emails, and be placed on hold while they acknowledge their system emails are not accurate portals of communication. The sooner I "self pedal" my money out of this company the better!

IRA account transferred in January. Capital One-Millennium Trust will also be reaching out to you directly to welcome you as their customer. Nope.... I have initiated my calls and signed up myself online. Guy on phone seemed alright so giving 2 stars. No welcome mailing yet either. Sounded like fees were $35 on quarterly/six months basis. Please let me know when I'll be receiving statements. I'm assuming quarterly. I guess another thing you need to be prepared for is that these banks can just give up and roll over your funds to another company that charges big fees. Not cool. My other IRA mess with Etrade they took too long to acknowledge transfer from capital one so now I'm stuck until I try again with Millenium. Seems like I'm reading horror stories about moving money out of Millenium and transferring...just great.

UPDATE The company reached out to me and actually made everything right. So im going to average out my first phone call, which was 1 star, and the second call, which was 5 stars, where they reached out to me and give them 3 stars. ORIGINAL REVIEW I have never rated a company or given a review but i felt the need here. Get your money out asap or it will disappear. Total scam. All of the other reviews are more or less true. My $800 turned into $300. Do not trust this trust with your money. They will scrape every penny away if given the chance.

Super unimpressed with this company. I didn't choose to manage my funds with them in the first place. Now I'm apparently going to have to pay a fee just to have an account with them and will also have to pay whenever I transfer money out of the account. Most of the calls I've placed to customer service consist of long waits or insufficient answers regarding questions about my account. A few of the people I've talked to have been helpful, but it's mostly just a run around and I still don't have access to some of the funds that were supposed to roll over from my previous employer. Planning to transfer my funds as soon as possible once my IRA contribution resets for the new year.

My account was transferred to MTC due to original account closing. MTC refuses to send my a statement so I can transfers my money to a real financial institution. I have been waiting over 5 months for a simple statement. Company takes forever to respond and is very rude and condescending when they finally respond, yet still refuse to provide a statement. Right now my account earn 1 cent a month , and they charge my like $30 a year, so I lose money every month they hold my money hostage.

Absolute joke of a company. I guess their business model is to clean up dormant accounts from reputable investment firms and fee away any remaining balance you may have had in your account. Absolute criminal activity. You disgust me. Old account I never asked to transfer started with $84.81 (-$40.00 account fees/expenses and -$30.00 direct debit annual fee) remaining balance $44.91. Really! You ARE a SCAM. Can’t wait to I read about you in the headlines soon.

Such a scam company. Trust me. If you are an unlucky sole who's old company gave your 401k holdings to Millennium Trust it.....is.....going....to....be...a....journey.....to get your 401k back. I am an HR professional with all the time in the world and its been over 2 weeks of dealing with them...currently day 5 since their last "request for additional information" . Now, TODAY after waiting on hold the usual "forever amount of time" to speak to a rep, I finally get through and all of a sudden get a disconnect after 40 minutes, cause get this, they are closed for Presidents day....a message they filled me in on at the "end" of that 40 minutes...awesome. Here is the business model for these guys......The point is to make this as painful as possible with sign up and close out fees, long waits, insanely vague communication and the worlds worst internet website ect ect ....in hopes that a small percentage of you will eventually say "forget it, keep the money" and the rest of us who endured...we'll have paid hefty fees to finally get our money that they took...and they justify it because they "held our holdings for us"..... Brilliant business model....Its unfair they get to "start" at 1 star. I would give them a 0/5 for customer service and their overall existence in the same temporal lane as me, and a 5/5 for being the most grifty grift that has ever grifted the game.

Can anyone tell me how long it takes after form has been submitted to access my account for first time takes ? I have tried calling over and over and no option allows me to speak to a actual person. Submitted the form to create my account 2 days ago and haven’t heard anytning since. I didn’t know my money was in this account until a few days ago and I’m just trying to get a better understanding of the process

Difficult to work with the company. They do not specify what is required when transferring funds. They send a general letter listing POSSIBLE issues. If the company would just be specific, a transfer of funds would not take months! Phone representatives are not courteous and even have unfriendly demeanor. The website is no better, not user friendly. I would rather they had not contacted me about an old forgotten 401K.

I had my 401k get rolled over to here. Worst thing ever. The first thing they did is charge me an annual maintenance fee of 35 dollars, more fees to come probably. What thieves. I hope this company crashes and burns like they deserve. Moving my assets out asap.

If I could rate 0 I would. Not only did they send the enrollment information to the wrong address, when I told the Tim from the Pittsburg location they have the wrong address, he called me a liar saying I wasn’t saying the right one. I have been living in the same address for over 15 years..I didn’t get it wrong.

I use several online brokerages..Never experienced such Horrible service like at Millenium. Shocking really. Long phone waits. No call back. Ridiculous sign in procedure. Talked to an employee. Was told they get constant complaints, especially from Capital One customers(me). They weren't prepared to handle the transition. Complaints are sent to Management, which appears they do Nothing! Pulling All my money out. Have had it. No Stars would be Appropriate. They should be reported.

A former employer transferred my account to this company. They have charged me over 10% fees every 6 months and I cannot get the money out. I am choosing to take the money out and take the tax hit! Foolish procedures designed to make it DIFFICULT to get your money moved or pulled out!

My company dumped my retirement funds here without consulting me and it took a lot of phone calls and letters before I could move my money. They also charged $25 per account to transfer my funds. I’m very unhappy with my former employer for using this company.

Absolute thieves! DO NOT INVEST HERE! They will steal your money and do nothing to grow your investment! They robbed my accounts with crazy maintenance fees so i closed my accounts and they robbed me again with no explanation! If you use Millennium you are flat stupid! This is a fraudulent company dont walk run from these crooks! Keep your bull excuses! My company didn't authorize you to break my money up into several different accounts and charge those accounts each $40 a month. And they sure didnt take several hundred dollars when i closed those accounts!

The WORST online trading portal I've ever seen in my life. I would not be surprised if they hired a 10 year old to build this site. It's impossible to make a simple trade with the website not loading properly 99.9% of the time. The user experience is absolutely horrific. I'm pulling my funds from MTC as soon as I can and I recommend you do as well. I can't believe this is where Empower Retirement sent my 401K. This company is absolutely trash. Response to owner: What improvements have you made that has improved the roadmap? I've had the misfortune of using this site for almost a year. Not one thing has changed on the portal.

My 401k at a previous employer was rolled over into a Millennium Trust Co IRA with my consent. MTC proceeded to charge me in order to access my own money and close an account. Great business model….

I emailed MTC in order to transfer money out of an old IRA to a new IRA and didn't expect to hear from them for some time. I had an email from "Marc P." in minutes. He asked a few questions in which I replied quickly and again did not expect to hear anything. Marc P. did it again and was back to me with the exact instructions in order to transfer monies out. This interaction was great. Thank you for being amazing!

Previous employer moved my account here. Can't get a hold of anyone. Makes you set up an account online. You can't get confirmation to get on your account. Honestly feel this company just bleeds account dry with fees.

This company was very shady and underhanded in the way they dealt with my money when it was transferred to them from another company which was handling my 401. They said they sent notifications to me but they didn't realize that all my mail is documented through a 3rd party. The customer service reps were absolutely no help on the phone. They made it extremely difficult to withdraw the money once they had it. Their website made it nearly impossible to set up an online account in order to get a check mailed out. They are extremely careless with personal identification information and I have already consulted with an attorney about taking legal action because my personal info was leaked. I would advise anyone to steer clear of this bunch of shylocks.

The worst financial services institution I have ever dealt with. High fees, poor customer service, unfriendly user interface for website. The high fees were ridiculous and millenium trust company makes distributing/withdrawing your funds as difficullt as possible. It took several calls/attempts to successfully withdraw my funds, and those attempts were met with some resistance. One representative, named Peggy, had the audacity to rudely ask why I was removing the funds in the first place. I had the displeasure of having my previous employer's funds rolled over to Millenium trust. I will not make the mistake of using Millenium's services ever again.

Worst financial services company I ever worked with. They will nickel and dime you to death with fee up the wazoo... my account was transferred to Millennium from Etrade, then I started seeing all kinds of fees draining my ROTH IRA account each month... account opening fee, account holding fee, per asset fee, account transfer fee, quit claim fee, documentation fee, invoice fee, receiving fee, disbursement fee... ridiculous. Every time I called there was a new fee to close the account. Received my check months ago, deposited the money, but the funds never went to pay off the fees in my account until I provided cancelled check copies. Unbelievable.

this is probably the worst IRA platform ive ever seen. Too many fees for absolutely everything, poor UI, and virtually no customer service. Take your money to a real company like vanguard or tdameritrade.

9 years through an early stage investment I made (the company chose them as custodians) Biggest issue: When the company finally went public they were glacial to update their records (months) with the Transfer agent, very slow to update their records in a basic way so I could see what the value was (showed I owned public and private stock of same company) and then slow to process the paperwork (and hard to deal with) to transfer my assets to my other broker. Even after I notified them I was unhappy with how it was handled and the speed - it didn't make a difference. Others included: -Charged a fee to close my account - nothing like slapping you on your way out the door to ensure you won't come back -High annual maint fees compared to others -Mediocre website they finally upgraded in the past 18 months but still pretty sub-par compared to other financial sites

Unbeknownst to me my 401k from a previous company was moved here. I found out by calling the company that I thought was managing my money. They were extremely helpful and told me the balance of my account before it was transferred. I called Millennium to find out that I've already been charged a fee... The lady I spoke to was not knowledge about anything and just kept telling me the same thing repeatedly. I would have been better off talking to a wall... Moving my money outta this trash hole immediate!!

Ridiculous hidden fees for everything. Charged $10 for a paper account statement I didn't even ask for. No one should ever use this company.

This company is a racket. A forced rollover and a series of fees and charges for the privilege of this company bending you over and taking full advantage of their kidnapped-forced clients

My previous employer transferred my small IRA account over to this company. They immediately went to charging me fees literally the first month they received the account in Jan 2020 for an annual fee when they just received the account! This company is HORRIBLE they will eat your entire account up with fees. So the only one really benefiting is Millennium! Update: I spoke to a rep yesterday who stated he would immediately send me an email with the form to have my funds released. Of course the email never came! It's clear this is a money grab, I assume the rep is expecting me to forget. A similar issue happened last year. I spoke to a rep with this company told one thing only to find out that the reps lie. Why the rep yesterday would lie to me about sending the form makes it clear this company is only interested in eating up your money through inflated bogus fees! I will be opening a BBB complaint as well as reaching out to government agencies who oversee this industry. Update #2 I called the company back today and spoke to a rude employee called Nicole. When I explained the situation to her that the email never came etc. Nicole immediately insinuated that I was lying! This is the worst company I’ve ever dealt with. I see why they have so many negative reviews. I asked Nicole to forward the old email that was sent, then she can prove that sim the liar she is accusing me of. Of course then she accused me of being irate and transferred me! This company is HORRIBLE! Update #3 The owner is quick to cover for her employees bad customer service which explains why they are so bad at customer service. The owner never addressed the Company charging fees on my account the first month it was transferred to them. This is not a retirement plan for anyone other than the company as by the time they charge you fees after a few years your account will be zero. This IRA account in on year received less than .50 annually in interest payments and 50.00 in fees. She won’t mention that because that’s their game.

Worst ever. crazy fees. people are nice and professional on the phone but power less and have to put me on hold for every simple question. i feel like they intentionally delayed my account transfer to another company for months just so they can charge more fees every month. ended up paying thousands in fees just to get my assets transferred out. Did I mention they're the worst ever?

Didn't run into any problems listed in the other comments. Just made my profile and cashed out. Only took one day to receive my funds.

God awful company. If your former employer moves your funds to MTC, find another company for your retirement holdings.

Horrible customer service. Nearly impossible to gain access to my account. when I called the company to remedy the problem the person i spoke with on the phone was incredibly rude. I would never voluntarily do business with a company like this. extremely unprofessional and a nightmare to deal with. STAY AWAY.

CROOKS AND LIARS. GOOD LUCK GETTING YOUR IRA MONEY. THEY LIED ABOUT FDIC APPROVAL AND NEVER EVER SENT A STATEMENT AS THEY PROMISED OVER AND OVER. GOOD LUCK GETTING AWAY FROM THEM.

My 401k stuff was transfered to this company. They never reached out to me (about a month). I made an online account, and cleared out the account all within a week. No phone calls needed.

This company offers “custodial “ attention to your investments. My husband and I put several hundred thousand dollars in their custody in 2014. They seemed to realize in 2020 that they didn’t know where the money went. To shorten the pathetic set of excuses, they sent 1099Rs to the IRS as if we had been issued the money. They didn’t give us the money. They have not sent a correction to the IRS, we have paid their custodial fees. The SEC Needs to see their books and back room.

Terrible financial company. Have requested by our financial advisor 3 months ago to transfer my son’s money which they have not done after multiple requests. Amazing how someone can keep your hard earned savings. Taking advantage of a young kid. Do NOT use Millennium Trust Company for any of your financial needs.

This company is terrible. My experience with these people has been horrific and time consuming I’ve been waiting over 4 weeks for my money to be transferred over to my fidelity account due to them making the process so ridiculous. Any other company does everything online 2-3 business days. THIS COMPANY REQUIRES EVERYTHING BY MAIL WHICH HAS NOW DRAGGED SOMETHING THAT SHOULD TAKE 2-3 days now out a month. RUNNNNN FAR FROM THIS COMPANY! Now I was told 19 days before they process. Terrible service I can’t wait until my money is moved.

If you want to lend money out of your IRA, this is NOT the place! Their process is slow, confusing and very complicated. They really need to pay attention and improve their process. Millennium bought my previous custodian and I became their customer by default. But I am looking to switch.

My money was not well managed. It was automatically rolled over form a previous employer and in the course of 8 months it earned just over $2.00. The not earning much was annoying but I wouldn't be so angry if they hadn't charged me a $40 annual fee. So because someone else chose where my money would go, I lost $40. Then when I tried to transfer my money out to a different company, it was a huge hassle. They wouldn't accept the paperwork for the new company because they had a different address listed. I have two addresses that I use and for most things it's easier to leave them going to my previous address where my family still lives. But everything else on the paperwork matches. I called them and the woman I talked to was not helpful. I don't have any bills, utilities, bank statements or anything legal that has my new address listed so there was nothing I could even give them if I wanted to change my account address. I explained that I don't have anything in my name and what I was wanting to do and she told me just to have the new company redo the paperwork with my old address. Even though I was on the phone with her and could confirm my identity, she wasn't able to do anything because she said that "was a different department" that handled the paperwork for transfers. So instead I had to call the new company and we had to completely redo the transfer paperwork with my old address on it just so Millennium would let me have my money which added a couple weeks on to the timeframe.

My funds were transferred to Millennium after I thought I moved everything out of my old retirement account to a Roth IRA (not with Millennium). My financial advisor thinks the money could have been from dividends. It was difficult for even my financial advisor to figure out how to move the funds from their traditional IRA to my Roth IRA, we had to get on a three-way call because I was confused calling them myself. I completed the Roth IRA Conversion Certificate as advised and my financial advisor turned it in for me. Two weeks later, I get a call saying I would have to open a NEW Roth IRA with Millennium and transfer to my own Roth IRA. I told the woman I was converting to my own Roth, NOT theirs. She put me on hold, asked me some questions and finally realized what I was trying to do. Put me on hold again and told me I would be paying a conversion AND closing fee. Together those fees are 10% of what was in the account in the first place! I am requesting a distribution just to have the money in my pocket. I would appreciate someone contacting me about this.

By far the worst customer service I have ever experienced. I would rather spend the whole morning at the DMV. This company is solely based off of web not over the phone. I have been in a back and forth email loop with them not being able to receive my signed documents required to withdraw my money from a roll over account to which I never agreed to use this company. To top it off when my funds were transferred to this company I was never made aware of having to open up my account. or even the fact that they had taken my funds. If I could rate them zero stars, I would. Highly recommend you withdraw your money ASAP.

Immediately no. I would give less than one start if I could. Like many others my account was rolled over to these folks from a previous employer. I withdrew my funds to go elsewhere because these folks are impossible to get in touch with. It took me a period of 2 weeks of calling daily, leaving a message, not getting a call back and then finally ( by some miracle!) pressing the right option to get a human on the phone after I waited on the line for over 30 minutes. If you don't care to talk to someone...ever, then this is the place for you. But if you value your funds then run as fast as you can to someone else.

Update: I received a call from Millennium as they mentioned. They shared with me they are working on revamping their fee structure to address concerns like those I raised. They are currently addressing these issues on a case by case basis however, which led to my receiving credits for fees issued against my account--including those I would expect to pay for moving my money out as well. Because of this response I have raised my review from 1 star to 3 which is neutral because my concerns were resolved. I am transferring my funds to a company I already work with that has existing fee structures that I feel are more reasonable. This is still not the ideal situation for anybody who finds their money being transferred into a scenario like this. Even in changing 401K companies I didn't experience fees like this. Previous comments: Rolled over from an account from an employer I was at briefly. Charged a fee the equivalent of nearly 5% of my account to do nothing. I earned a staggering $.38 in interest. If my money had been deposited at the bank I would have gotten more interest and lower fees. What they call being a custodian, I call grifting. Even in the parable of the talents, the third servant at least buried the money to be useless. These folk took a hefty amount just for the privilege of doing whatever they wanted with it. I can't help but wonder if some investment oversight entity would be interested in looking more closely at this. Customer service required a 40 minute telephone wait and it took many attempts to use the online portal to access the account which is a joke. This is what you get for $60 in fees and $.38 in interest? You should be ashamed of yourself.

Ms. Shyvon Branch was extremely professional and helpful with me today. I called to inquire the status of the holdings in my retirement account from a previous employer. Absolute Angel. I could not have spoken to a better rep after sitting through the recorded menu options. Her ethereal demeanor is the only reason I chose to remain with Millennium Trust.

I had less than $1,000 available to me from a company that I had left a few years ago and it rolled over into this 'millennium trust company'. It literally took over a month of phone calls and online forms and I had to install an app on my phone and then find all sorts of numbers to give them and then they still had to verify things and it took another week and I finally was able to actually request my refund. Every step of the way they took out $20 here $30 here several times during the whole ordeal. I would not recommend doing business with these people.

I haven't yet dealt with them, and I am already displeased. My account was rolled over from another bank that no longer handled IRAs. I haven't been able to create an account "something went wrong" is all I get (but no clue as to what went wrong during the account creation. Meanwhile, I get emails about my IRA having "a new home", but no clickable buttons or link. Oh, and when you try to submit an inquiry on their site, you must specify the type of account you are inquiring about. Since IRA isn't listed, if you click on a random option, it of course asks questions you can't answer, since you don't have that type of account. I hope my IRA is having a good time somewhere in the ether, because I can't access it to, believe me, roll it over somewhere else the first chance I get.

Fees are outrageous! If you have a small 401k from an ex-employer, for a fee, this company will take it off their hands. I had money withdran from my last paycheck, after I transferred my 401k to another company. HR said that I'd have to contact the company. By then, because it was only about $100, the company had transferred it to Millennium Trust, who immeadiately charged $40 to open an account (which I didn't consent to) and $20 for an annual fee. By this time, I figure I'll just get them to send me rest of my $$. If you've kept track, they charge a transaction processing fee of $20 and an account closing fee of $10. In the end, my $100 was gobbled up by this fee-hungry place that survives of scraps. I was left with less than $10. P.S. They are way behind and out of compliance with their operations. I received 2021 tax documents TODAY, over a month after taxes were due to the IRS. I'm pretty sure these documents are supposed to be delivered by January 30th.

Stole $1,000 from me. Some of my funds were transferred here without my permission. They made no effort to contact me, charged a bunch of fees, and then refused to let me withdraw it despite multiple calls. They're an absolute scam. Do not trust them with your money!

Trying to roll over ira for both my husband and me and it is literally impossible to access online account or someone over the phone. How the SEC hasn’t shut this company down is beyond me. Only one star bc of this. I will say that I just spoke with Marilyn and she was stellar. She helped us get our account info and gave direction on getting it transferred. (Hopefully it works from here). It was a literal miracle that the phone actually connected with her. Most of their phone tree directs you to their website with NO OPTION to speak with someone. Marilyn should go work for a good company who values her.

Disappointed! They have a pretty decent/good website, very helpful customer service agents. Bruce was wonderful in explaining the transfer process and answering my questions (Hence the two stars). The online portal is good, just the process of getting online access to the account might be tricky if your documents don't upload. To give some context, like many of you, I was rolled over from a previous employer's 401k. I was willing to keep my IRA with Millennium until I noticed their fees: A $30 annual account maintenance fee just for having the privilege for them to hold my retirement money! They also have a 10 dollar paper statement fee. And a 25 dollar account closing fee. Now these fees may be relatively small if you have hundreds of thousands of dollars in your IRA with Millennium Trust, but seeing as I got booted from my previous employer's retirement plan, I dont have hundreds of thousands. There's probably even more fees for transactions, but I don't plan to stay here long enough to find out. I didn't consent to these fees, but Millennium will probably respond to this review below with "YoUr pReViOuS CuStoDiAn aGrEeD tO theSE FeEs". Still doesn't make it not-scummy bro. My feedback: Lower your fees if you want to retain us. Of course, that's not their business model for this market segment, now is it? They probably churn through a lot of rolled-over discarded 401ks and hope to charge as many fees as possible until the unlucky sap's 401k bleeds dry or they finally wake up and transfer their retirement money to a more reputable company. There is opportunity here to be a better business and make even more money together with your clients, but they're too shortsighted on burning bridges to make a quick buck.

We had Capital One Simple IRAs that were transferred to MTC early this year. After several failed attempts (including with MTC Web Chat & calls with reps) to access funds to invest, gave up on MTC. On May 17 (a month ago) initiated a transfer to eTrade. I was told 'a 5-7 business day process'. Still waiting. Calls to MTC go unanswered. What is my recourse? Work with SEC.gov?

My retirement was rolled over to this company and it has been impossible to work with them. No matter what device I log in to MT on, I’m stuck at a loading screen. I’ve already gone through most of the steps once to claim my account and then the whole website stopped working. Even worse yet, when you call their “support number” and “press 1 for English” no one answers the phone and it goes completely silent. Terrible customer service and faulty website. The set up is similar to a scam but I have to trust my company rolled my account to a decent company.

I'm trying to access my IRA account that was transferred to this Bank from Capitol one. They are telling me that I never registered and I did back in November. The woman I spoke with was nice but she told me I couldn't access my account form my phone. She sent me a link through email to register so I tried to register AGAIN and each time it tells me something went wrong. It didn't matter of I was on my computer or phone same result. I have a login on that allows me onto the site where I see my name but doesn't show my account information. Just shows 0 which is not accurate! This is very frustrating. They told me to call back if I had a problem. Who has time for all this help that is not helping. There is obviously a problem on their end. And what year are we in that you can't access your info from your phone?? I am beyond frustrated and this company is not sitting well with me right now.

Stay away from this investment company they charge so many fees. Stick with etrade all free no fees. Can't even talk to a person all automated. Moved my old ira from former employer and was a headache. $30 fee to close account should be illegal.

CRIMINAL!!! Capital One released a Roth IRA to Millennium without my permission or consent. Capital one said they sent a letter, Millenium said Capital One sent me a letter. This is robbery my funds were withdrawn before the maturity date with Capital One . I held this Roth IRA with Capital One for seven years, this is totally a corrupt practice to release a clients account without permission. Millennium is not even a bank. I want my money immediately, if I do not receive it in a timely manner, CLASS ACTION LAWSUITS WILL BE FILED ON CAPITAL ONE AND MILLENNIUM TRUST CO.

Thank you all for your comments. I really am glad I read these before jumping into this mess of a company. Sounds like you need to get your act together Millennium. I contacted Fundrise because they said I need to use you for opening up an IRA. I showed them your reviews they said we are taking it under consideration. I'm like you might want to stop doing business with them because many complaints and hurts Fundrise reputation for laying down with dogs and getting flees

I would rate them 0 stars if possible. They have held my money for a long time. When I call to request a distribution or even my full account number. They immediately hang up. Six times today so far. Nothing good to say about group scammers.

If you have an ex-employer transfer your funds to them, do not walk to another Financial Institution, run to another one. Their fees, $10 for a paper statement, $45 for a management fee. I didn't know I had money transferred there, while it was less than $400 from an old employer, they gouged me for $55 in fees in 1 year, plus another $35 fee to get my money to roll over elsewhere, in total, $90. I would not recommend anyone use them due to their Fee Structure, which I, and I would imagine, no noels has agreed to. And the best fee, is when you terminate your account, you are given 2 choices, an ACH Deposit, which is $35, or a Debit Card where they mail the instructions on how to access it and use it, which means it's virtual, and you have no idea how much those fees are. Response to Owner: I never received anything about this account until I received a paper statement a few days ago, there was no correspondence until now. The statement did show a $10 fee "Statement Fee", which showed I made a whopping 24 cents in the previous 12 months, and a $45 fee for managing the money. I never agreed to it, until I created an Account because I couldn't get in touch with anyone after numerous calls. Having someone agree to the fees when they create login after the fees have been levied is not an acceptance. Imagine buying a car, they hand you the keys, then tell you when you take the keys there are a bunch of fees for taking the keys. I found out from the paper statement. $55 fee for earning me 24 cents. I do stand corrected, there is a $25 fee to close my account. That's still $80 in fees for 12 months. As for the Debit Card, there is nothing stating if there is, or isn't a fee, only this statement: Millennium is now offering a Prepaid Debit Card as a distribution payment option. This card provides multiple alternatives to access your money: • Use the card for purchases everywhere debit cards are accepted • Obtain cash from ATM’s Information on accessing these options will be mailed to you along with the prepaid card. Allow additional time for receipt via US mail. Who knows if there are any fees, it doesn't state.

Pretty sure they have been siphoning off money out of an 401k that was transfered to them when I quit a job. This company appears to be all of the things millennials hate about financial institutions and so the name is real fun too. Take your business elsewhere.

They make it impossible to rollover money to another IRA, why would any employer choose them? With Vanguard it took 2 seconds with Millennial you need to have your provider fill out paperwork and wait a month.

This is a horrible company. My wife has a old 401k that was moved over to them from the old company. They in returned charged us some ridiculous fees in the tune of 10 dollars to send you a paper statement and 40 dollar annual account fee. They even charged us $25 dollars to shut down the account. Thank goodness we are getting our money out of here.

This is what happened to me… It’s a bit disturbing that I received another clients statement, how many times had this happened? Has my statement been sent out to someone else? This was a unprofessional mistake. RESPONSE… We apologies for this misunderstanding, this was our mistake and we have talked to the representative about the incident. Your statement has not been sent to anyone else.

If you end up having your account transferred to Millennium, the best advice I can give you is to RUN the other direction. My IRA was transferred here and one investment source that I’ve worked with for over a decade said they would have to start charging me a $750 processing fee PER TRANSACTION to deal with them. In his words, “this company is the worst I’ve ever encountered”. They are about two things, getting you to pay fees, and making it impossible to get access to your money. Get out as soon as possible! PS-they’ll even charge you to get out (over $700 in my case), but bite the bullet and do it. They’re the worst!!!!

Worst experience ever, they will waste your time with excessive documentation, fund acceptance forms, and calls back and forth between financial institutions to get a $60 transfer to another financial institution and then come back with more paperwork to fill out. Some of the customer service representatives are nice and helpful but their processes feel designed to waste you time.

Capital One transferred my IRAs over to Millenium Trust from an FDIC insured product to an investment company that does not have FDIC insured products. I am running for the hills. They did not even list what investment product the money went into.

I was charged $30 fee for a debit card that had an expired date. The card had been on file for service charges relating to my Self Directed IRA account. As a business owner I am appaulled at this fee. I can understand if I had sent a check that bounced, but for an expired card? This company is clearly about over charging and under delivering. How about you notify me that the card did not go through and give me a week to get you the new card. Warning if you are looking for a custodian, keep looking, this company does not appreciate their customers.

I received a letter stating that my funds was rolled over to them.. I've been waiting since April 20th to receive my funds after I setup for direct deposit.. its been over a week and when I finally got in touch with someone only thing she can tell me it's go be a couple business days and I should be receiving my funds.. This doesn't make any since why I have to wait soooo long for a direct deposit when I 1st officially did this April 12th and I'm still waiting..

Avoid at all costs! My company decided to stop holding my pension and ignored my paper work to send it to my typical broker. OK, not Milenium's fault. But then it landed with them and I can't get them to rollover the account. MONTHS after my brokerage submitted the paperwork to transfer the money I got a letter in the mail saying my paperwork was "illegible." 1. This was already cleared by another brokerage as legible. As the other company is very reputable, I highly doubt that there is anything wrong with the papework. 2. They should have contacted the brokerage as they submitted the paperwork. 3. When I called I was put on hold forever, then told to hit 1 if I wanted them to call me back and...you guessed it...they never called back. During the months of waiting I have wracked up their ridiculous fees to just keep holding onto my money. If the money doesn't rollover soon I'm going to show up at their door to get this sorted.

In disclosure I believe I did receive one email asking me to review my experience but no incentive for doing so, and no suggestion or pressure on how good my review was. That said, my 401K came here from a previous job. I got a letter in the mail, which was informative, then I tried to register through the web interface. It caused me all kinds of issues like double accounts, even though I submitted my identifying documents. So why did I give this review 4 stars? The phone support was very helpful, I got exactly what I needed, and no one tried to convince me to keep my account here. They were helpful with the transfer process and I was able to get my money into my preferred brokerage. I should have called them earlier instead of bothering with the website. Also no games with denying the transfer. Overall happy, although I’m not sure reviews matter much when you have no choice regarding dealing with whoever gets your old 401K.

Nate was the most unprofessional representative I have ever worked with! He could not answer any of my questions. Kept saying, "UHHHHH" every other word like he had no idea what he was doing. If a company is not properly training their employees than they should not be handling client accounts.

This company is not trustworthy. They charged us an annual fee for years on each account for just sitting on our investments. Then when we closed the account, they charged us another $250 per account. There are much better places to do business with that don't nickel and dime you for doing nothing.

My money was seized by this firm from a "dormant account" and I have no idea how to get it back. The customer service line literally never answered after 3 hours of sitting on it. No responses, no answers. Who are these people?

First,don't attempt to do any interactions with them unless you are using a laptop or a monitor computer. Smartphone or tablet will only cause frustration. Second,don't expect timely service if you are first timer with them. The process to verify your identity appears to be by design slow, muddy, confusing and cumbersome. The claim they make is government regulations regarding terrorism funding. A previous employer went bankrupt and Millennium wound up with the retirement accounts. Received letter from old employers agents that stated either do nothing and account will convert to Roth or submit form to remain traditional. I chose Roth,did nothing as instructed, so that's what I filled out on my initial contact with Millennium on early A.M. 4/14 after several calls to help desk about website issues. Evening of 4/15 receive email stated account was traditional and I would need to resubmit all forms and uploads with corrected account type which I did early A. M. 4/16. Received email afternoon of 4/19 that info provided week before had now been verified and may proceed to step 2. After many problems with their app and website again and several more phone calls to help desk, more forms uploaded and submitted A.M. of 4/20 to verify my bank account info. Presume this part will also take at least 2 business days to hear back. Don't think they verify data over weekends. Told by rep on last phone call that if I wanted a check instead of direct deposit, average of 15 business days before checks mailed out!! Why can't you ask for drivers license, recent utility bill statements, voided checks, deposit tickets, etc. all at the same time rather than at different points in the process? Couldn't all that be verified together? Business day 5 now and waiting for another status update! Gives the impression that they want to discourage paying out funds. If you have an unexpected emergency, what are you supposed to do? Wanted to take out just some of my money, but after this past week, taking all and closing account with this company seems best.

Transamerica told me I needed to wait 60 days to close my account after being fired from the hospital. Then they transferred my money to millennium trust company without my permission or knowledge, when we had already put in order to close my account. Now millennium has forced me to open an IRA to prove my identity and then charge me for closing an IRA that I never requested. This is highway robbery & extortion.

My old employer rolled over my 401K account to Millennium Trust and reading these reviews scared me too. Originally I had close to $5,000 transferred here and by the time I was able to get it out I had about $84 taken out from fees which is not as bad as I thought it was going to be. The only issue I occurred through this whole process was MT needed a better scan from my investment company which we were able to provide and Gwen, the representative on the phone was helpful and informative. I'm lucky I did not have nearly as many problems as other people have faced but yeah if I could have rolled it over to an account of my choosing instead of just being told this is where it was going I would have much preferred that instead of having to face MT's fees

Initiated a direct deposit to get my funds out. 14 days later no money in my bank account. FEES FEES FEES. BAD CUSTOMER SERVICE. RETIREMENT FUNDS DUMPED HERE!

Very difficult to get in touch, have been trying to call for a couple weeks now and no one ever calls back! Website is trash and says that it will send me a confirmation email to access the account, but still haven't received anything!!!! An absolute nightmare. I want to talk to your senior manager, contact me ASAP

My experience with Millennium Trust was the result of a company bankruptcy that moved my 401k to their stewardship as the company went bust. As I am overseas I was unable to try and directly find alternatives. That was almost 3 years ago and my experience has been unequivocally positive. They have recently added trading options which allow a better diversification. I am very happy with Millennium Trust and appreciate their professionalism and understated delivery of a quality service.

Update: I called again since the 1st client service gave me some confusion. The customer service I talked later are helpful and patient. Previous comment: Very bad experience with customer service. The lady was helpful at the beginning, but when I would like to ask the last confirmation question. She simply cuts me off and does not allow me to finish. It is very humiliating and I never experience the client service like this.

I was extremely impressed with the customer representative she was helpful in walking me thru every aspect of my account from A-Z she knew it all. Thank You Myra

I personally wouldn't invest with this company however I spoke with a sales rep this morning and wasn't able to catch her name. This woman was very professional, fun to work with and made things easy to manage. All within reasonable time! You rock my socks sista :-) I wish you the best.

I called and spoke with a really helpful person (Dave!) who was so informative and went the extra mile to see to it that I wasn't being shuffled back and forth between companies when trying to make a transfer. He didn't pressure me at all to stay with them, and even offered to make a 3-way call to help the transfer go smoothly. I'm mailing my transfer request letter now and hoping (in spite of some negative reviews!!) that things continue to go smoothly.

Truly shocking website. Didn't work the first few times i tried to log into my new account. Then when it finally worked, it kept on locking inputs so i couldn't update the information it was requiring me to update prior to proceeding to the next page. I just wanted to rollover my account and it is taking me days. They seriously need an overhaul of the website as well as streamlining their rollover procedures.