On Tuesday, Millennium Trust Company announced it was expanding alternative investment access for advisors and individuals by adding five online investment platforms to its network, Millennium Alternative Investment Network (MAIN). Along with Lending Club, which joined late last month, these portals are EquityZen, iCapital Network, Prodigy Network, R.J. Oasis.
Millennium Trust noted it collaborates with online investment platforms and service providers to create solutions that use technology to provide qualified investors with an easy way to find and research alternative investments, and then purchase and custody the investment through their account.
Millennium Trust Company CEO Gary Anetsberger, stated:
“There is a clear trend towards making some size allocation to alternative assets. However, many advisors and individual investors still cite a lack of access, and a lack of educational information, as two of the biggest hurdles they face when deciding which types of alternatives to select and what size allocation is appropriate. MAIN provides a starting point for investors to begin to solve both of these issues. We’re excited to welcome the latest investment platforms to our growing network.”
Phil Haslett, founder and head of investments at EquityZen, commented:
“We are excited to provide Millennium Trust’s individual and advisor clients access to pre-IPO technology company investments that have typically been reserved for institutions. By joining MAIN, investors have an efficient way to custody these private investments.”
Lawrence Calcano, managing partner of iCapital Network, noted:
“Alternative investments, including private equity and hedge funds, can be a valuable addition to a high-net-worth portfolio but have been out of reach for many investors until recently. We are pleased to be a platform on MAIN and committed to working with Millennium Trust to improve investor education and access to these critical asset classes.”
“MAIN gives Lending Club new access to individual investors and financial advisors. Since launching in 2007, Lending Club has delivered access for retail investors to invest in consumer credit that has delivered net annual returns of 5-8% historically since inception and we look forward to expanding our distribution with this strategic relationship.”
Prodigy Network CEO, Rodrigo Nino, shared:
“We are very happy to have joined the Millennium Alternative Investment Network and greatly value our relationship with Millennium Trust. Real estate is among the most popular alternative assets for self-directed IRAs and MAIN users can now access these institutional-quality real estate projects in Manhattan.”
Managing director of Asset Management Julie DeMatteo, added:
“R.J. OASIS is delighted to be listed on MAIN and to expand the universe of alternative investment strategies available to Millennium Trust clients. We believe there is significant investor demand for additional product and educational resources. This strategic relationship satisfies the need for both.”