3 Dividend Stocks That Are Good Custodians for Assets
These wide-moat firms offer above-average payouts and will likely see higher returns during the next several years as rates rise.
Erin Davis: We think that custody banking is a great business. We assign a wide moat to each of the three focused custody banks that we cover: BNY Mellon, State Street, and Northern Trust.
What custodial banks do is take custody of and provide safekeeping for financial assets like stocks and bonds for institutional investors, like pension funds and mutual funds.
Erin Davis does not own shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.