A financial custodian will send you a monthly or quarterly statement for your account letting you know what they are holding on your behalf. In addition to holding onto your money and investments and sending you an account statement, the custodian also serves as a broker when you want to buy or sell investments.

What does custodian mean in finance?

A custodian is a specialized financial institution (typically, a regulated entity with granted authority like a bank) that holds customers' securities for safekeeping in order to minimize the risk of their misappropriation, misuse, theft, and/or loss.

What is custodian with example?

Custodians are SEBI-registered market intermediaries, primarily responsible for safe-keeping of securities (such as shares) of their clients. ... In India, the leading custodians are Stock Holding Corp. of India, HDFC Bank Ltd., ICICI Bank Ltd., etc.