What is a custodial service?

Last Updated: 21 Dec 2015

 A custodial service is when an entity or individual holds a client’s property or money on their behalf.  The custodian is responsible for the safety of financial products. 

If you are a custodial client, you are still the beneficial owner of the financial products but the financial products are held on your behalf by the custodian. 

At ASB Securities, the registered owner of the financial products can be ASB Nominees Limited, ASB Securities or the nominated offshore custodian who holds them in custody on your behalf. You are always listed as the beneficial owner.

Was this helpful?

Related Answers

Related topics

, , ,