SIE: 8.2.7. Custodial Accounts

Taken from our SIE Online Guide

8.2.7. Custodial Accounts

Custodial accounts are accounts where a third party manages the account for a customer. These accounts are sometimes referred to as fiduciary accounts because the third party is called a fiduciary. Fiduciaries must put the customer’s interests before their own. You will need to know about two specific types of custodial accounts: UGMA and UTMA accounts.

+ Read More

More SIE Info

What are people saying?

Create an Account

Since you're reading about SIE: 8.2.7. Custodial Accounts, you might also be interested in:

Series 7 - 14.2.6. Partnership Accounts

Series 66 - 2.2.2. Liquidation

Series 14 - 7.3.1.2. Other Principals

Series 53 - Supervising New Customer Accounts

Series 65 - 1.5.1.2.7 Call Risk

Please Enable Javascript
to view this content!

Site Login

TESTIMONIALS

What are people saying?

The materials for the SIE were very well organized and presented. The study guide is comprehensive and easy to understand. Beyond that what I found the most valuable were the practice exams particularly the detailed explanations after each set of answers. There are so many hidden gems in there be sure to scroll down so as not to miss that information. We done Solomon Prep!

Matthew Gould, GreyMan Management . Scottsdale, AZ.

After a lengthy absence from the securities industry, I again needed to get licensed. With the great help of Solomon, I did the SIE, Series 7, Series 63, and Series 82, in just over 5 months. The materials are comprehensive and I would recommend reading it all at least twice. Have realistic goals and meet them. Don't take too many days off as the quicker you learn the material the less likely your are to forget the initial stuff. I found the "Ask the Professor" feature to be particularly helpful (and responsive!). I hope I don't need further exams any time soon but, if I do, I will use Solomon.

Shawn Sullivan Charlestowne Securities Darien, CT

I just took my SIE, Series 6 and Series 63 exams — I took them all on the same day (would recommend breaking them into separate days if you can, but I had specific work reasons I had to get them done). In any event, I PASSED all 3 exams. I used the Solomon materials and was extremely satisfied. Great study materials, I couldn’t have done it without your help. Thank you!

Glenn M., Detroit, MI

Feels so good to have passed! (Series 7) It was about as challenging as I thought it would be and I'm glad the study material prepared me for understanding the concepts, and not just memorizing terms and formulas. Only changed two of the 15 answers for questions I flagged for review and finished it with more than 90 minutes to spare. The relief I felt upon seeing "Pass" was awesome!
Used Solomon materials for both the SIE and S7. So grateful to these materials for helping me achieve a passing score on my first attempts of both exams. The study guide and videos were thorough, comprehensive and easy to follow. I found the pie charts extremely useful in helping me identify areas where I needed more study, and was grateful for the Pass Probability feature in giving me a bit of extra confidence before sitting for the exam. I would absolutely recommend all of their materials to anyone taking this journey.

Andrew Nerys, Square Inc. San Francisco, CA

Thanks to Solomon I was able to pass the SIE, Series 7, and Series 63, great study material if you put the hours in!

Xavier Mata, Cabrera Capital Markets. Chicago, IL

Super fast response time to emailed questions, clear explanations in the textbook and in the ungraded practice exams, and unlimited practice tests made Solomon a great resource for preparing for my SIE. Passed on first try!

Claire Pywell, R+R Financial Partners. Anchorage, AK