Millennium Trust Company has introduced a new centralized online service to simplify the custody of alternative investments.
Dubbed as Millennium Alternative Investment Network (MAIN), the service will allow investors to connect to the growing number of investment platforms offering access to an increasing range of alternative investments.
MAIN will offer an efficient end-to-end solution for individuals and advisors seeking to hold alternative investments within either IRAs or taxable custody accounts.
Using this new solution, investors can complete their research, select an investment via a platform, complete documents to open and fund an account and direct their investments entirely online.
Millennium Trust will launch this service with four platforms, which offer clients access to invest in private companies, hedge funds, real estate and other investments through a Millennium Trust account.
Millennium Trust Company CEO Scott McCartan said: "Not only does MAIN provide individuals and advisors with access to a range of investment platforms and alternative assets they may not have previously been aware of.
"Investing in alternatives has historically been a cumbersome, paper-centric process and we are committed to using technology to change that."