A custody account is a financial account (such as a bank account, trust fund, or brokerage account) created for the benefit of a beneficiary and managed by a responsible person, known as a legal guardian or custodian, who has a fiduciary obligation to the beneficiary. A custodial bank is a financial institution that stores customer values to prevent them from being stolen or lost, including Gold silver IRA custodians. The depositary can hold stocks, bonds or other assets in electronic or physical format on behalf of its customers. A trustee manages assets on behalf of the beneficiary of a trust, estate, or other party. A custodian is the entity that actually holds the assets in question for safekeeping.