Despite marketing efforts like the 1964 Chase nest egg ad shown here, custodianship remained a dull subject for decades – until Mr. Madoff reminded people of how expensive a brokerage account can be.
Monday, July 06, 2009
Custodianship
When I was a lad, many prudent investors kept their stock certificates in safe deposit boxes and took pains to clip their own bearer-bond coupons. Only the truly monied treated themselves to the convenience of having a trust institution as custodian.
Despite marketing efforts like the 1964 Chase nest egg ad shown here, custodianship remained a dull subject for decades – until Mr. Madoff reminded people of how expensive a brokerage account can be.
Despite marketing efforts like the 1964 Chase nest egg ad shown here, custodianship remained a dull subject for decades – until Mr. Madoff reminded people of how expensive a brokerage account can be.
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