What are the duties of a custodian when managing investments?

A custodian is responsible for managing investments in North Carolina. This includes safeguarding assets, establishing and executing investment strategies, providing periodic reports, and performing the necessary administrative tasks of the investments. The primary duty of a custodian is to ensure that assets entrusted to their care are kept safe from theft, negligence, or misuse. Custodians must also ensure that the investments are carried out in accordance with state law and any rules or regulations imposed by the state. This includes ensuring proper disclosure of any investment transactions. When creating and executing investment strategies, custodians must consider the wishes of the account owners and make sure that those wishes are fulfilled. They must assess the risks associated with potential investments and use proper investment practices to protect the assets. Custodians must remain mindful of the current financial environment and adjust their strategies as needed. Finally, custiodians must provide periodic reports to the account owners. This report should identify any changes in the investment portfolio and the value of the assets. This report is important for the account owners to understand and monitor the performance of their investments. In summary, the duties of a custodian when managing investments includes safeguarding assets, establishing and executing investment strategies, providing periodic reports, and performing the necessary administrative tasks of the investments.

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What are the duties of a custodian when managing investments?

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