If we look at the custodian meaning, it is a term that refers to a person or institution which can act as an agent for the financial assets of another person or company. A custodian handles various affairs, including settling sales and purchases, holding equities and bonds, tax compliance and reporting, reporting the status of assets, and managing the client’s account and transactions. For example, a bank works as a custodian for all of its customers’ investments, moving funds, selling securities, and reporting account activities to the owner. The custodian may also help in fixing problems on behalf of the owner .Moreover, an adult with legal status is also a custodian for the minors. But the custodian role is often held by accounting firms, banks or law firms, which can pay additional fees for the services.

Difference 101