What are the duties of a custodian when managing investments?

In Florida, a custodian is an individual or institution that has the responsibility of managing investments for a client. This means a custodian is responsible for keeping track of the client’s assets, such as stocks, bonds, and mutual funds, and safeguarding them. The custodian is also in charge of making sure that the investments are properly administered and managed. This includes ensuring that the investments are bought and sold at the right time and at the most advantageous price. In addition, the custodian must keep accurate records of all transactions and maintain proper bookkeeping records for the investments. The custodian is also responsible for making sure that all laws and regulations pertaining to investments are complied with. This includes ensuring that all documents, such as prospectuses, are properly filed in a timely manner and that any tax documents or forms related to the investments are filed in a timely manner. The custodian should also monitor the changes in the market and adjust the investments accordingly. Finally, the custodian is in charge of making sure that all fees and expenses connected with the investments are paid in a timely manner and that assets are properly distributed when the investments reach maturity. The custodian should also act as a liaison between the investor and the financial institution in case of any questions or discrepancies.

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What are the duties of a custodian when managing investments?

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