Business and Personal Finance Dictionary

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• CUSTODIAN
  
  A custodian is an organization, such as a bank, brokerage firm, or mutual fund company, that's responsible for the assets of a 401(k) plan, mutual fund, or IRA. The custodian invests as you direct, but has no fiduciary responsibility for the way the money is invested. In other cases, a custodian may be a person who is responsible for making financial decisions on behalf of a minor child or disabled adult.
  
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