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Establishing a registered investment advisor (RIA) firm requires making some important decisions. Among them is selecting a custodian or multiple custodians to maintain client assets and ...
An IA must adhere to a fiduciary standard of care laid out in the US Investment Advisers Act of 1940.This standard requires IAs to act and serve a client's best interests with the intent to eliminate, or at least to expose, all potential conflicts of interest which might incline an investment adviser—consciously or unconsciously—to render advice which was not in the best interest of the IA ...
Custodial accounts function like regular brokerage accounts, allowing custodians to buy and sell stocks, bonds, funds and other investments. Anyone can contribute to a custodian account. Anyone ...
A custodian is integral to your advisory firm's operations as you'll need a secure place to hold client assets. Working with a quality provider can also help to improve efficiency, which can be ...
Hightower was co-founded in 2007 by Elliot Weissbluth, Larry Koehler, Daniel Lidawer and Drew Kornreich. The firm was founded for broker-dealer advisors who wanted to move to an independent firm that still received the support of a big firm but without the negative press and conflicts of interest of needing to recommend products that their employer required them to sell.
State Street Bank and Trust Company (SSBT), commonly known as State Street Global Services, is a subsidiary of State Street Corporation organized as a trust company based in Massachusetts. The company is the largest custodian bank in the world and specializes in providing institutional investors , such as mutual funds , with clearing ...
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Wells Fargo Advisors is a subsidiary of Wells Fargo, located in St Louis, Missouri.It is the third largest brokerage firm in the United States as of June 30, 2021 with $1.9 trillion retail client assets under management.