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A Custodial Account is a type of Wealth Management account that allows a parent or guardian to manage the financial assets of a minor. The account is typically opened by the parent or guardian, who is the custodian, and the minor is the beneficiary. The custodian has the authority to manage the account and make decisions on behalf of the minor. The custodian is responsible for ensuring that the assets are managed in the best interests of the minor. The assets in the account are typically invested in stocks, bonds, mutual funds, and other investments. The custodian is responsible for monitoring the investments and making sure that they are performing as expected.
The Custodial Account market is an important part of the Wealth Management industry. It provides a way for parents and guardians to manage the financial assets of minors in a secure and responsible manner. The market is highly regulated and provides a safe and secure environment for the assets of minors.
Some companies in the Custodial Account market include Charles Schwab, Fidelity Investments, TD Ameritrade, and Vanguard. Show Less Read more
