Business / Taxes / 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.
Business / Finance / 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. MORE
Business / Finance / Custodian Bank: Fees charged by an institution that holds securities in safekeeping for an investor. MORE