In finance, a custodian is a financial institution, usually a bank, which keeps and secures the financial assets of another person or entity. The...Become a member and unlock all Study Answers Start today. Try it now Create an account Ask a question Our experts can answer your tough ...
In finance, what is a custodian? What is a strategic planning consultant? What is a mortgage broker? What is an adjunct account? What are the advantages of a corporation? What is a fiduciary relationship between employer and employee?
Although anyone may contribute to a custodial account, control of the account is managed by the custodian. Once the minor beneficiary reaches the age of majority (as determined by the state), the custodian can transfer the funds in the account over the funds to the minor. Types of Custodial ...
Focus on your education within finance As proof of knowledge in the field, obtaining both a bachelor's degree and a master's degree is essential for demonstrating dedication and ability to complete long-term projects. Consider working toward a degree in business administration or finance to learn...
What Is Life Insurance? Taxation What Is a Tax Haven? Economy What Is the Gold Standard? Finance What Is a Joint Account? Related Articles Discussion Comments SmartCapitalMind, in your inbox Our latest articles, guides, and more, delivered daily. ...
Focus on your education within finance As proof of knowledge in the field, obtaining both a bachelor's degree and a master's degree is essential for demonstrating dedication and ability to complete long-term projects. Consider working toward a degree in business administration or finance to learn...
likegold coins and bars. Investing in physical gold has its own set of unique benefits for investors, but the one big drawback is that physical gold requires storage. That's where a gold custodian comes in. But what exactly is a gold custodian and do you need one to invest in physical...
In simple terms, mutual funds are financial intermediaries created to manage the money acquired from various investors skillfully. It is established as a trust, with a Sponsor, Trustees, Asset Management Company (AMC), and Custodian. The trust is created by one or more sponsors who are ...
If an account beneficiary is a minor, a custodian is often required (i.e., acustodial account). In such cases, the custodian may be a responsible individual rather than an institution. The custodian has the authority to make investment decisions regarding the assets in the account, but the ...
Mutual Funds: How Many is Too Many? How Mutual Funds Work Mutual funds are defined as a portfolio of investments funded by all the investors who have purchased shares in the fund. So, when an individual buys shares in a mutual fund, they gain part-ownership of all the underlying assets ...