OAK BROOK, IL — (Marketwire) — 02/10/12 — The Private Fund Advisor Registration deadline, as required by the Dodd-Frank Act, is fast approaching with March 30 only weeks away. Many experts are advising that all paperwork be filed by February 14 to ensure compliance with the deadline. Millennium Trust Company-s can provide a solution for Advisors to Private Funds, registering with the SEC for the first time, that need a for their private funds holding both traditional and Alternative Assets.
One of the challenges for many Advisors completing the registration process and the ADV form for the first time is identifying a Qualified Custodian to hold the sometimes unique underlying assets of private funds. Private stock, promissory notes and mortgages, real estate, interest receivables and investments in limited liability companies or limited partnerships are just some of the more challenging assets to custody.
Over the past few years many large financial institutions have chosen to end or severely limit the custody of Alternative Assets creating a -custody void-. Many advisors and industry professionals agree that it may be exceptionally challenging to find a custodian with the expertise to custody Private Funds with underlying Alternative Assets and working knowledge of the requirements of the amended Custody Rule 206(4)-2 of the Investment Advisers Act of 1940.
Millennium Trust leverages its of a wide range of to deliver a Private Fund Custody Service specifically designed for Registered Investment Advisors to Private Funds who need the services of a Qualified Custodian. Millennium-s Private Fund Custody solution is suitable for most types of private funds sometimes referred to as pooled investment vehicles, advisor controlled funds, private equity funds, limited partnerships, limited liability companies, other private investments, in addition to other alternative investments.
Millennium-s strength is its ability and willingness to deliver customized custody services to meet the ever-changing needs of Registered Investment Advisors, investment firms and investment managers. Since the formal program launch in March 2010, Millennium-s Private Fund Custody service has realized significant growth.
For more information on Millennium Trust Company and its Private Fund Custody Service offering, contact: Sandra Reese, SVP & Program Manager by email: or by phone: 630-368-5645.
About Millennium Trust Company
Millennium Trust Company is an experienced Qualified Custodian for both traditional and alternative assets. Millennium provides custody services for alternative and traditional assets in IRAs, Solo 401(k)s and taxable accounts, offers private fund custody services, creates customized Automatic Rollover programs, provides integrated Health Savings Account solutions and designs unique trading platforms for Investment Advisors. Additional information about Millennium Trust Company may be found at .
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.
Mary Hackbarth
SVP, Director of Marketing
Millennium Trust Company
630.368.5642
820 Jorie Blvd.
Suite 420
Oak Brook, Illinois 60523
800.258.7878