How Hard Is It to Pick the Right Custodian?

Summary: Again and again, advisors have commented to FA-IQ that, as far as they and their clients are concerned, the major custodians don’t differ much in their core services. At the end of the day, they say, all offer fairly standardized processes for opening accounts, safekeeping securities, clearing transactions and conducting wire transfers. Yet, in a recent FA-IQ poll, 62% of readers indicated the choice of custodian matters a lot.