Here's a topic sure to anesthetize your brain: custody.
Custody of client assets is when an investment advisory firm has physical possession of a client's assets, which can include cash, funds, or other types of investment securities. In general, custody of client assets is handled by a bank or trust company because maintaining client assets can be a difficult and meticulous business.
The Uniform Securities Act states:
"It is unlawful for any investment adviser to take or have custody of any...
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