Custodian

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Custodian

Either (1) a bank, agent, trust company, or other organization responsible for safeguarding financial assets, or (2) the individual who oversees the mutual fund assets of a minor's custodial account.

Custodian

A brokerage or other financial institution that holds and manages a client's securities or other assets on his/her behalf. 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, a custodian provides an investor a place to store assets with little risk. Brokerages normally require a fee for custodial services. See also: Safekeeping.

custodian

An organization, typically a commercial bank, that holds in custody and safekeeping someone else's assets. These assets may be cash, securities, or virtually anything of value.

Custodian.

A custodian is legally responsible for ensuring that an item or person is safe and secure. In investment terms, a custodian is the financial services company that maintains electronic records of financial assets or has physical possession of specific securities.

The custodian's client may be another institution, such as a mutual fund, a corporation, or an individual. For example, with an individual retirement account (IRA), the custodian is the bank, brokerage firm, or other financial services company that holds your account.

Similarly, the Depository Trust Company, a subsidiary of the Depository Trust and Clearing Corporation (DTCC), is the custodian of millions of stock certificates held in its vaults.

References in periodicals archive ?
The court found that the custodianship terminated at age 18, as provided under the UGMA at the time the girls were made to Martha.
In writing this book, Shannon is expanding a tradition of community-centric scholars as the acknowledged experts in an arena prone to the custodianship of others, a practice to which Wilson called attention and denounced in his much-publicized debate with Robert Brustein at Town Hall.
In comparing four cases of relic theft, in which the movement of relics from India to their eventual shrine in Sri Lanka is treated as an outcome of the Buddha's expressed intention, Trainor concludes that the theft accounts indicate both the desirability of the relics and the risk of disrespect implicit in the relics "changing hands," which consequently legitimizes the sangha's custodianship of them.
After several years of discussion with a task force of citizens, environmentalists, county, state and federal officials, and DWP staffers, I entered, at their direction, into discussion with the Santa Monica Mountains Conservancy to have them take over custodianship on a 10-year lease.
Bank money managers often provide custodianship at no charge, while an extra fee is sometimes involved with investment advisors.
To most parents, a custodianship is preferable to a direct transfer of property to a minor.
The Atlas Suite from PSS Systems is the first and only enterprise solution to provide a robust and automated legal holds process, the critical map of data custodianship, and an enterprise retention management framework that synchronizes retention across business units and data sources.
The King stressed Jordan's role in defending Jerusalem and its Islamic and Christian holy sites based on its religious and historic duty as well as the Hashemite custodianship of Jerusalem's holy shrines.
The statement asserted the rejection to place Christians under the mercy of any domestic party or the custodianship of any foreign axis.
JEDDAH, July 22 (KUNA) -- The Organization of Islamic Cooperation (OIC) has condemned statements by Iraq's Vice President Nouri Al-Maliki against Saudi Arabia, as he accused the Kingdom of sponsoring and supporting terrorism, and called for placing it under "international custodianship.
17 (BNA): The Jordanian government is still carrying out the construction and restoration projects at the Al Aqsa Mosque, which come in implementation of the Hashemite custodianship of the holy mosque, Foreign Ministry Spokesman Sabah Al Rafie said on Friday.
NELSON Mandela's kin were at odds before his body was cold over custodianship of his grave and which of them would represent the family.