custodian account investment & finance definition
An account controlled by a custodian rather than the owner of the assets. Custodian accounts are often used for minors or other individuals who are unable or unwilling to handle their own assets.
Definition
Custodian
A financial institution that holds in custody and for safekeeping the securities and other assets of an investment company.
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Custodian bank
Definition:
Applies mainly to international equities. Bank or other Financial institution that keeps custody of Stock certificates and other Assets of a mutual fund, individual, or corporate client.
Custodian
A financial institution, such as a brokerage firm, or a bank that holds stock certificates and other assets on the behalf of a mutual fund, corporation or individual.
custodian: The bank or other such institution that stores the securities of a mutual fund.
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day order: An order to buy or sell which, if not executed expires at the end of the trading day on which it was entered.
Custodian: A financial institution, usually a bank or trust company, that holds a mutual fund's securities and cash in safekeeping.
Custodian account An account controlled by a custodian rather than the actual holder of assets. Custodian accounts are often used for minors or other individuals who are unable or unwilling to handle their own accounts.
Custodian
Custodian is an agent to safe keep the securtiy on behalf of an investor.
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Custodian - The person or institution responsible for protecting the property of another.
Custodian - A fund"s custodian or custodial bank performs administrative work for the fund. These responsibilities include holding the securities of the portfolio and performing fund accounting responsibilities.
Custodian: The person appointed by the donor to manage a minor's account. Might be the donor, a guardian, or some other adult or institution such as a bank.
Custodian
A custodian is legally responsible for ensuring that an item or person is safe and secure.
Sub-custodian A custodian in a foreign market who provides safekeeping and settlement services for a global custodian.
Custodian bank
[edit] Footnotes
^ Holding Your Securities - Get the Facts, United States Securities and Exchange Commission, 03/04/2003. Retrieved 30th November 2006.
CUSTODIAN
In investment terms, a custodian is the financial services company that maintains electronic records of financial assets or has physical possession of specific securities.
Custodian Bank
Bank assigned by a mutual fund to act as its custodian. The bank performs clerical functions and holds the fund's cash and securities.
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A custodian bank as a standing proxy opens accounts at foreign exchange banks and futures companies, deposits and withdrawals investors' money and monitors investors' properties for them.
3. Custodians many times also offer "Advisor only" funds. These are usually high performing mutual funds where the fund family wishes, for whatever reason, to deal only with investment professionals, so they set high minimum dollar requirements.
Most IRA custodians (i.e., banks and brokerage firms) won't tell you about this because they don't stand to profit.
1. Find a custodian that you feel comfortable with and that has a good reputation. Determine what SDRP is best for you and complete the adoption agreement.
Mutual Fund Custodian - a mutual fund custodian is a bank, or any other similar financial intuition, which is responsible for safe keeping and holding the securities owned, and within a mutual fund.
Mutual fund custodian
A commercial bank or trust company that holds securities owned by a mutual fund and sometimes acts as transfer agent for the mutual fund.
While serving as a custodian, the individual is usually granted broad managerial powers under the terms of the Uniform Gift to Minors Act. The custodian may sell assets, as long as the proceeds are used to benefit the child in some manner.
Self Directed IRA Custodians
Self Directed IRA Custodians or a Self Directed IRA Trustee is required for all IRAs by law. They basically act as the middle man between an investor and their IRA account.
self-directed retirement account A type of retirement account in which an investor designates an account custodian,... self-employed A classification of employment in which an individual who operates a business...
Although the account is in the name of the custodian, the account is the legal property of the minor and it becomes his or hers outright when reaching legal age, usually 18 in most states.
Custodian ...
If you invest in a periodic payment plan, you may also pay service fees to the plan's custodian, whose primary responsibility is safekeeping plan assets and maintaining plan records.
DRs are created when a broker purchases a non-UK company's shares in the home stock market and delivers those shares to the depositary's local custodian bank. The custodian then instructs the depositary bank to issue DRs to the investor.
Custodial Account An account created for the benefit of a minor which is managed by an adult as the custodian.
What gives some investors pause is the notion that that fund custodian does not have physical custody of all the silver required to match the market cap of the ETF.
These include transfer agent expenses (this is the person you have to pay when you want to buy or sell shares of a fund), custodian expense (this is when the bank charges the fund for keeping its money in it), ...
One of the great advantages for you guys is that you are the account custodian as well as the market maker. People may not realize the importance of that, until they actually start digging down deep.
An account created for a minor, where the custodian manages cash and other property gifted to minors under the Uniform Gifts to Minors Act (also known as the Uniform Transfers to Minors Act).
The broker will hold your CD as your custodian and keep a record of your holdings. The broker will include your CD holdings in the periodic account statements you receive concerning the assets you have with the broker.
Custodial fees
The fees charged by the custodian for keeping the securities.
Cumulative preference share
Preference shares whose dividends will get accumulated, if the issuer does not make timely dividend payments. ...
Deposit/Withdrawal at Custodian - DWAC
The automated system for deposits and withdrawals of securities from the Depository Trust Company (DTC).
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You should consider opening a custodial account. You could be the custodian for your son and the account would be under your son's Social Security number. Therefore, your son would pay the taxes at his income tax rate.
Some of the more significant are: transfer agent expenses (selling person), custodian expense (bank holding the fund's assets), legal/audit expense, accounting expense, registration expense to the SEC, ...
Remember that the stockbroker is like a custodian of your funds. You need to be very comfortable with them before you pick one.
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Accounts governed by these acts allow a minor child to own property. The account is managed by a custodian until the child reaches the age of maturity.
Direct rollover
Movement of tax-deferred retirement plan money from one qualified plan or custodian to another. No immediate tax liabilities or penalties are incurred, but there is an IRS reporting requirement.
According to SEBI regulations, financial institutions (FI's), banks, custodians, stockbrokers, etc. can become DPs. It is comparable with a branch of a bank if a Depository is likened to a bank.
An electronic depositions and clearing system operated by The Hong Kong Monetary Authority which acts as the clearing agent and central custodian for Exchange Fund paper and other debt instruments.
Certificate of Deposits (CDs) ...
An account for the benefit of a minor with an adult as the custodian.
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The confirmation of trades, and the reporting of the transaction, may be much slower than in American markets. Finally, shares are often held safe with custodian banks and depositories.
Beyond the trading commissions, you'll find that brokerages may charge other fees, including fees for transferring assets into the account, fees for closing an account, IRA custodian fees, wire transfer fees, account inactivity fees, annual fees, ...
Uniform Gifts to Minors Act and Uniform Transfers to Minors Act: Accounts governed by these acts allow a minor child to own property. The account is managed by a custodian until the child reaches the age of majority.
A depository can delegate some of its functions, notably the safekeeping function, on a contractual basis to another institution authorised to operate as a custodian.
CUSTODIAL RECEIPTS - Secondary market products that represent an indirect interest in a tax-exempt bond or a pool of tax-exempt bonds held by a custodian.
are negotiable certificates in registered form, issued in the US by a US bank, certifying that a specific number of foreign shares have been deposited with an overseas branch of the bank - or another financial institution acting as a custodian in the ...
If several investors own the CD, the deposit broker may not list each person's name in the title but the account records should reflect that the broker is merely acting as an agent (eg, "XYZ Brokerage as Custodian for Customers").
But you should make sure that the account records reflect that the broker is merely acting as an agent for you and the other owners (for example, "XYZ Brokerage as Custodian for Customers").
the tests performed on the controls, and the results of those tests. Existing rules make no distinction between an investment adviser whose affiliate holds its clients’ funds and an investment adviser that uses a truly independent custodian.
 See also: Market, Stock, Investment, Account, Share
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