Evaluate and compare custodians
Carefully choosing the right custodian is an important decision with long-term effects for you and your clients. Our evaluation tool can simplify your search and help you make the right decision.
Your custodian needs to safeguard client assets and provide a platform to help manage your advisory practice successfully. You’re likely to build a close, long-term relationship with your custodian, and regularly discuss your business strategy and operations.
If you are considering starting a firm
The custodian you select should work closely with you from day one to help plan your transition, transfer your existing assets, and help get your new firm up and running. Once your firm opens, your custodian will provide the back-office support you need so you can focus on what really matters—serving your clients and running and growing your business.
If you have already established your firm
Perhaps you’re looking for a custodian with a more flexible technology platform, or a greater variety of investment products. Maybe it’s time to grow your practice or acquire another firm.
Whether you’re considering starting your own firm, or thinking of adding or changing custodians in your existing firm, an evaluation tool can help you collect critical information, assess strengths and weaknesses, and choose the custodian that’s right for you.
Questions to ask
The right questions make all the difference. We’ve identified some questions to focus on when evaluating a custodian.
- How much experience do they have supporting advisors?
- How will they support my transition?
- Do they provide outstanding service?
- What type of technology is available?
- What investment products do they offer?
- How will they help plan for your firm’s future?
- What networking and educational opportunities do they provide?
- How important are RIA custodial services to the success of the overall organization?
Scorecard Tools
To simplify this process and compare the custodians you’re considering, download our Scorecard Tools now.
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