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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.


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.


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.


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 ?
For example, the new contract called for a one-year moratorium on the purchase of jeeps while the Board studied all custodian equipment purchases.
The custodian will be required to subscribe to Freddie Mac's seller/servicer guides; develop procedures for maintaining, certifying, releasing, transferring and accessing documents; and develop written procedures to ensure compliance with Freddie Mac's requirements.
How does the custodian communicate with its sub-custodians?
The Cabinet emphasized the importance of convening the Group of Twenty Summit in view of the world's witnessing of events and critical economic and political circumstances requiring the unification of the global position to confront these issues, stressing that the Kingdom's participation in the summit under the chairmanship of the Custodian of the Two Holy Mosques embodies the Kingdom's great prestigious status under his leadership.
The Custodian of the Two Holy Mosques was accompanied by Prince Saud Al-Faisal bin Abdulaziz, Minister of Foreign Affairs; Prince Faisal bin Mohammed bin Saud; Prince Muqrin bin Abdulaziz Al Saud; Deputy Crown Prince, Second Deputy Premier and Advisor to and Special Envoy of the Custodian of the Two Holy Mosques; Prince Faisal bin Abdullah bin Mohammed; Prince Meteb bin Abdullah bin Abdulaziz, Minister of the National Guard; Prince Abdulaziz bin Bandar bin Abdulaziz; Prince Mansour bin Nassir bin Abdulaziz, Advisor to the Custodian of the Two Holy Mosques; Prince Dr.
Its industry-leading brands include Strategic Insight, SIMFUND, Plan for Life, iNVESTOR ECONOMICS, PLANSPONSOR, PLANADVISER, aiCIO, Global Custodian and The Trade.
Go the extra mile and call Signal Branch at HRC to ensure a trained Soldier is requisitioned who will be there in time to allow for an orderly transfer of the custodian duties.
It is impermissible for an IRA custodian (versus a self-directed IRA advisor, or other financial "advisor") to offer advice.
Someone radioed the custodian to come,'' Gocke said.
81-70 study often requires the cooperation of one or more layers of nominees and custodians interposed between the corporation's transfer agent and the tax beneficial owner of a share of stock.
81 does not specifically address the auditors responsibility for auditing financial statement assertions about the ownership, existence and valuation of financial instruments, commodity contracts and similar instruments when a custodian performs services related to an entity's investments.