How Your Advisor's Custodian Affects Your Money

Episode 14 of The Financial Advisor Podcast. Lucas and Luna explore a hidden but critical layer of financial advice: the custodian who actually holds your assets. They walk through the real-world case of a small RIA that switched from a major retail brokerage to a dedicated institutional custodian like Schwab Advisor Services or Pershing, and what that change meant for fees, execution, and client protection. The discussion covers how custody separation creates a safeguard against advisor fraud, why some advisors resist making the switch, and what questions a client should ask to find out where their assets are held. Specific numbers and examples: the $2 billion RIA that consolidated custody, the difference between a 12 basis point custody fee and a 50 basis point bundled fee, and the SEC rule that requires annual surprise exams for advisors who control client assets themselves. Practical and immediately useful for anyone working with a financial planner. #Custody #RIA #FinancialAdvisor #ClientAssets #SchwabAdvisorServices #Pershing #BSSCustody #SECRule206 #AdvisorFraud #FeeTransparency #SeparateAccounts #SIPC #SurpriseExam #InstitutionalCustodian #RetailBrokerage #Finance #FexingoBusiness #BusinessPodcast Keep every episode free: buymeacoffee.com/fexingo