Trust Company Of America Forges Strategic Partnership With MTC

Tom Burroughes

14 June 2017

Trust Company of America, which provides technology, custody and practice management support for registered investment advisors, has formed a strategic relationship with Millennium Trust Company to provide alternative asset custody in taxable portfolios for its advisors.

Previously, TCA advisors could only hold alternative assets in clients’ tax-advantaged portfolios on the TCA platform. Under the new partnership, TCA advisors can now custody clients’ alternative assets for taxable portfolios as well. Alternative assets held at MTC are linked to the client’s TCA accounts so that advisors and their clients can see descriptions of the positions, the number of shares held, the total market value of the position and the last valuation date, TCA said in a statement.

TCA advisors can take custody of public non-traded real estate investment trusts, hedge funds, private equity/debt, commodities/future and marketplace loans at MTC.

“A robust diversified, multi-asset portfolio combined with best-in-class tools empowers advisors to deliver the investment solutions clients need most,” said Trust Company of America CEO Joshua Pace.