Born John Stephen Sudduth in Louisiana, Mikky Ekko had a restless childhood as the son of a preacher, moving around America's deep south. Having settled briefly in Tupelo, Mississippi, and absorbed as much gospel as he could, he relocated to Nashville, Tennessee, and started playing in bands.
In the vast majority of cases, all these securities are held in the name of your brokerâs nominee company. A nominee company is a custodian charged with the safekeeping of investorsâ securities. It should be a separate entity from the broker itself. Your investments are held for you â on trust â in a nominee account. This means that while the nominee is the legal owner of the securities, you retain actual ownership as the beneficiary.
Assets, including certificates of deposit, held in custodial accounts in the trust department of a bank, other than cash, do not become assets or liabilities of the bank and are segregated from the bankâs assets. The bankâs role as custodian is to hold the assets for safekeeping, to collect dividends and interest and.