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A custodial account is a financial account (such as a bank account, a trust fund or a brokerage account) set up for the benefit of a beneficiary, and administered by a responsible person, known as a legal guardian or custodian, who has a fiduciary obligation to the beneficiary. [1]
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A custodial account is a popular way for parents and guardians to invest for their children’s future. Accounts are easy to set up and manage, and the adult custodian can choose from a wide range ...
Custodial accounts. A custodial account is an account that parents can set up and manage on their minor child’s behalf, and the child is able to take over the account upon becoming a legal adult ...
The popularity of nominee accounts, which have existed for over a century, has increased rapidly since the introduction of Internet share dealing in the late 1990s and in some cases stocks can only be held electronically, such as exchange-traded funds, but holding shares in this way can have disadvantages compared to other methods.
A custodian bank, or simply custodian, is a specialized financial institution responsible for providing securities services. It provides post-trade services and solutions for asset owners (e.g. sovereign wealth funds , central banks , insurance companies ), asset managers , banks and broker-dealers .
Like a custodial Roth IRA, a custodial IRA is owned by a minor but opened and managed by an adult until the child is legally able to take over responsibility for the account. The primary ...
SSBT is the largest custodian bank in the world [2] [3] with US$36.74 trillion of assets under custody and administration as of the end of 2022. [4] The company provides securities services such as clearing , settlement and payment services to entities such as institutional investors . [ 4 ]