Millennium Trust Company, the administrative and custodial services provider, has implemented InnoTrust, Innovest Systems' trust and wealth management platform.

The platform supports the account administration, investment management, custody and reporting needs of institutional and individual clients, as well as automatic rollover solutions, the firm said in a statement.

The Oak Brook, Illinois-based company said with the implementation it expects to further streamline operations, reduce technology costs, and deliver a more customized solution for its clients.

Innovest Systems is a financial services technology firm headquartered in New York City. Millennium Trust Company had 132,000 accounts with total assets under custody amounting to some $3.7 billion, as of 31 March 2011.