The deal expands its self-directed IRA capabilities and reflects a continued commitment to providing access to alternative assets
OAK BROOK, Ill., December 14, 2023 (Newswire.com)
Millennium Trust Company, LLC, a leading provider of health, wealth, retirement, and benefits solutions, has acquired NuView Trust Company, a self-directed IRA custodian focused on alternative assets. The acquisition adds approximately $2.2 billion of retirement assets and over 12,000 client accounts to Millennium Trust’s platform, adding scale to its existing retirement business lines and paving the way for future growth in this area.
“This acquisition is highly complementary to our existing business and further diversifies our revenue and assets,” Millennium Trust CEO Dan Laszlo said. “Alternatives provide people with ways to invest beyond traditional stocks and bonds, contributing to a diversified investment strategy. That’s why self-directed IRAs and alternative assets are a focus for us. NuView’s capability and experienced talent will help us support even more clients and help build a future for new growth opportunities.”
Founded in 2003 by Glen Mather, NuView is a custodian of self-directed IRAs. As more investors are pursuing alternative investments to boost potential returns and diversify from traditional investments to build wealth, NuView’s clients have invested on a tax-advantaged basis in alternative assets such as private equity, private debt, and real estate.
“We’re excited to integrate our customer centric operational and technology platforms into the Millennium Trust suite of products and services,” said NuView Trust Company President Jason DeBono. “Clients can continue to expect the same client experience while gaining access to additional solutions, providing even more ways for them to support their wealth and retirement goals.”
Established in 2000 with a focus on individual retirement account custody and administration, Millennium Trust has since grown to offer a wider range of health, wealth, retirement, and benefits solutions. The acquisition of NuView adds to Millennium Trust’s enhancement of its alternative investment solutions. In April, the company also acquired Accruit, a leading independent Qualified Intermediary and technology service provider of real estate 1031 exchanges. Millennium Trust is in growth mode, and in January 2024, it will become Inspira Financial, reflecting the convergence of integrated solutions to advance total financial well-being today, tomorrow, and into the future.
“With this acquisition, we’re thrilled to grow and bring on an incredibly strong team of influential experts from NuView who will help us strengthen our clients’ retirement and wealth journeys,” Laszlo said. “This transaction once again demonstrates our rapid growth and openness to new business opportunities, with NuView’s clients benefiting from access to a broader array of health, wealth, retirement, and benefits solutions.”
About Millennium Trust Company
Millennium Trust Company solves important business challenges through innovative financial wellness solutions that help people plan, save, and invest. With more than 7 million clients holding over $62 billion in assets under custody, we are committed to using our decades of expertise and strong partnership with the financial community to empower employers, advisors and institutions to help people achieve short-term and long-term financial security. Learn more about Millennium Trust at mtrustcompany.com and follow us on LinkedIn. In 2024, Millennium Trust will become Inspira Financial. Learn more at inspirafinancial.com.
NuView Trust Company is a South Dakota chartered Trust Company that provides alternative asset custody solutions for individual retirement accounts (IRAs), trusts and organizations. Since 2005, NuView has serviced over 20,000 account holders seeking to invest beyond public equities. With over $2 billion in assets under custody, NuView provides platforms for individuals, financial advisors and investment issuers to access alternative investments for their respective client accounts. To learn more about NuView Trust Company, visit NuViewTrust.com.
Source: Millennium Trust Company