Posted by Hugh Bromma on November 18, 1998 at 15:51:28:
Bill is right, there are very few custodial institutions around. You should also be sure that if you invest out of state that the custodian will do that for you. Some won’t. Also if you look at a non-bank trustee, be sure that their capital requirement is met. Under the IRS code non-bank trustees have capital requirements of up to 2% of assets under administration. So if they have say $400 million in assets they must have an $8 million in cap requirement.