what is a nominee or custodian
In the vast majority of cases, all these securities are held in the name of your brokerâs nominee company. A nominee company is a custodian charged with the safekeeping of investorsâ securities. It should be a separate entity from the broker itself. Your investments are held for you â on trust â in a nominee account. This means that while the nominee is the legal owner of the securities, you retain actual ownership as the beneficiary.