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Custodian
A person or entity that holds and safeguards assets on behalf of another entity.
More Details
A custodian is a person or entity that holds and manages financial assets on behalf of another person or entity. Custodians are typically responsible for the safekeeping of these assets, as well as the execution of trades and the settlement of transactions.
Example
If you open a youth account for your child, you or another adult would be added as a custodian on the account to oversee and assist with its safe management.
Related Terms
Grace Period
A set amount of time after a payment is due during which a late fee will not be charged.
Refinance
The process of paying off an existing loan with a new loan, typically in order to obtain a lower interest rate or to change the terms of the loan.
Loan
A sum of money that is borrowed by an individual or entity from a lender, typically with the expectation that the loan will be repaid with interest.

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