Goodbye, Millennium Trust Company. Hello Inspira Financial.
Oak Brook, Ill.-based provider of health, wealth, retirement and benefits solutions Millennium Trust Company, LLC, this week announced its plan to rebrand as Inspira Financial.
The company said in an Aug. 15 statement the transformation unifies Millennium Trust and its diverse portfolio of technology-enabled solutions, including PayFlex, under a single brand and maximizes the impact and value delivered to clients. The statement said the “optimistic, forward-thinking brand” will officially launch in early 2024 and focus on helping clients—whether they are businesses, channel partners, employers, or individuals—easily enable and navigate the journey to financial wellbeing.
“Inspira Financial is your devoted health, wealth, retirement, and benefits partner, working with businesses and people to turn everyday actions into life-changing impact,” CEO Dan Laszlo said. “Our new brand positions us for today and for the future, moving beyond a trust and custody company to a full-scale solutions provider that can nimbly move our industry forward. Our promise is to provide solutions that strengthen and simplify the financial wellbeing journey—relentlessly pursuing better outcomes for all.”
According to the statement, purpose-driven goals to provide a suite of complementary B2B solutions and to help individual clients unlock their own potential are at the heart of Inspira. The company will maintain a focus on building meaningful partnerships, expanding its portfolio of solutions to meet evolving client needs, and preparing for complex and unique challenges in the retirement, wealth, health, and benefits spaces.
Founded in 2000, Millennium Trust began with a focus on individual retirement account custody and administration, and over the years has broadened its platform offerings to cover a wider range of retirement, wealth, health, and benefits solutions. The company has been named a Crain’s Chicago Business Fast 50 company for six consecutive years.
“With several years of rapid growth and more anticipated in our future, we are excited to move forward as Inspira and are eager to continue to shape solutions that drive lasting results.”
CEO Dan Laszlo
It has achieved rapid growth organically and through strategic acquisitions, including PayFlex, a health savings account (HSA), flexible spending account (FSA), health reimbursement arrangement (HRA), and consumer-directed benefit administration services provider; Accruit, a leading independent Qualified Intermediary and technology service provider of real estate 1031 exchanges; and Benefit Resource, LLC (BRI), a leading provider of FSAs, HRAs, HSAs, commuter plans, and COBRA administration services. In the last year, these acquisitions have enhanced the company’s client offerings, building a unified and interconnected range of services and solutions that take a holistic approach to financial wellness.
“Inspira unites us with people and businesses, because together, we have the power to enrich lives,” Laszlo said. “With several years of rapid growth and more anticipated in our future, we are excited to move forward as Inspira and are eager to continue to shape solutions that drive lasting results.”
The company has more than 6 million clients holding over $56 billion in assets under custody. Learn more at www.inspirafinancial.com.
SEE ALSO:
• New Open Portability Network Being Tested by Millennium Trust
• Millennium Trust Adding Auto Portability to its Automatic IRA Rollover Solution
Veteran financial services industry journalist Brian Anderson joined 401(k) Specialist as Managing Editor in January 2019. He has led editorial content for a variety of well-known properties including Insurance Forums, Life Insurance Selling, National Underwriter Life & Health, and Senior Market Advisor. He has always maintained a focus on providing readers with timely, useful information intended to help them build their business.
