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State Street Investment Advisors – Recommendation of Custodian

There are several factors to consider when selecting a custodian for your portfolio. Whether the custodian offers a similar software, system, or support, or whether it is more expensive than competing options, is important. If your Advisor receives economic benefit from the custodian, this conflict of interest may influence their recommendation. Consider all of these factors before selecting a custodian.

State Street

State Street is a Boston-based custodian bank with assets under custody estimated at over $52 trillion. They are one of the largest asset managers, and manage some of the world’s largest funds. They provide fund administration and custody services, as well as securities lending and foreign exchange trading services. The company’s innovative technology allows them to provide their clients with high-quality investment solutions that meet their exact needs.

In addition to offering a variety of asset-management services, the firm is also expanding its global presence. It is now in Ireland, Japan, and Luxembourg. It has also begun expanding into Latin America. With these new acquisitions, it has doubled its existing international footprint. And it has plans to expand its service offerings in these markets as well. But will its new international expansion make the company the custodian of choice for US investors?

Pershing

Clients should not place their entire portfolio in the hands of a single custodian. Instead, they should utilize a custodian that specializes in managing client portfolios. Such a custodian has a better understanding of the financial markets and can be more responsive to the needs of their clients. Listed below are some of the important benefits of using a custodian:

Recommendation of custodial: The firm’s RIA unit is led by Mark Tibergien, who will be leaving his role at the end of May. While Pershing isn’t known for its retail brokerage division, it sees an opportunity to distinguish itself. The firm recently announced changes in pricing, aimed at attracting RIAs. Mark Tibergien will retire at the end of May. Ben Harrison, who heads the custody division, will replace Mark Tibergien.

Sensible Financial

While not a fiduciary, Sensible Financial takes care of most of the client service items. As a result, most clients do not visit the branch office to check on their accounts. Almost half said it was “not at all important” to visit the branch office. They do not even use the custodian’s mobile app or call without their advisor on the line.

Based in Waltham, MA, Sensible Financial Planning And Management, LLC is a financial advisory firm. It manages $730.7 million in client assets and 1,568 client accounts. The firm has a staff of 10 financial advisors and is not a registered broker-dealer. Securities are tradable financial investments that are sold by a registered broker-dealer.

State Street’s Global Market Bulletin

For investors who want to take advantage of the firm’s world-class custodial services, State Street’s Global Market Bulletin is the go-to source for recommendations. The publication is available in hard copy and is accompanied by regular website updates. The Global Market Bulletin provides updates on market regulations, depository developments, and custody practices. In addition, State Street’s Global Custody Network Review provides insight into the firm’s expansion efforts, its Foreign Sub-Custody selection processes, and its financial condition.

State Street has long been a leader in asset management, and it has said that it has no plans to sell off its asset management business anytime soon. However, recent acquisition news has led the firm to ponder potential mergers with rivals, including Invesco and UBS. Meanwhile, State Street’s latest announcement is the acquisition of Brown Brothers Harriman’s custody business for $3.5bn, which is equal to the value of its assets under management.

State Street’s Global Custody Network

New partnership with First Abu Dhabi Bank enables investment in more than 100 countries. Custodian banks use SWIFT to transfer funds, send trade confirmations, and handle post-trade processing tasks. State Street and First Abu Dhabi Bank will also combine their front-to-back office services and global custody networks to offer full-service custodial services. The new relationship will also give clients in the region better access to their financial advisors.

Global Custody Network review: This report provides State Street mutual fund clients with an analysis of the foreign sub-custodians they should use. It includes financial condition and performance data of foreign sub-custodian banks and risk analyses of Foreign Securities Depositories operating in their Network markets. These reports are part of State Street’s compliance with SEC Rule 17f-7.