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Custodial Fees |
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Custodial fees Fees charged by an institution that holds securities in safekeeping for an investor. Custodial Fees Fees charged to a client by his/her brokerage for safekeeping services. Safekeeping occurs when the brokerage holds securities on behalf of the client. This reduces the risk of the client losing his/her assets or having them stolen. They are also available to the brokerage to sell at the client's demand. Like a bank, safekeeping provides an investor a place to store assets with little risk. Unlike a bank, brokerages are not allowed to use the items in safekeeping for their own ends. Assets in safekeeping are not fungible for the brokerage because they remain on the client's name. For this reason, brokerages normally charge custodial fees for safekeeping services. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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They will use it only for football and occasional district events, and pay maintenance and custodial fees on those occasions. The $8,000 in her IRA is invested in a blue-chip fund; she should roll over that money into a Fidelity IRA account to eliminate paying custodial fees. Having custodial fees deducted from an IRA each year significantly reduces the account's long-term value. |
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