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Custodial Fee |
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Custodial Fee A fee a brokerage or other financial institution charges for safekeeping services. Safekeeping or custody is a service in which the brokerage or financial institution holds securities on behalf of the client, which 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, custody provides an investor a place to store assets with little risk. Unlike a bank, custodians are not allowed to use the items in safekeeping for their own ends. Assets in custody are not fungible for the brokerage because they remain in the client's name. 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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Most banks and brokerage firms permit customers to pay the custodial fee separately rather than have it deducted from the account. The technological integration between BenefitStreet and Reliance will help plans enjoy extremely competitive recordkeeping and custodial fee rates. Many funds also charge a yearly custodial fee to cover the administrative costs of handling an individual retirement account. |
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