Custodians

Ranked by FY2025 reported client assets held — from Form ADV Schedule D 5.K.(3), where advisers name every custodian holding 10%+ of their separately-managed-account assets and the dollar amount.

#	Custodian	Reported RAUM at custodian	Advisory firms
601	Anb Financial Services	$92.1M	1
602	Alpaca Securities Llc	$91.2M	18
603	Hypothekarbank Lenzburg Ag	$91.0M	1
604	Jtc Group Ltd	$89.8M	1
605	Valic Financial Advisors, Inc.	$89.8M	1
606	Northleaf Strategic Capital Gp Ltd.	$89.3M	1
607	Bmo Capital Markets Corp.	$87.5M	1
608	Perpetual Trustee Company Limited	$87.5M	1
609	Alerus Financial	$86.9M	2
610	Pontera Solutions, Inc.	$86.4M	2
611	Pcs Retirement Llc	$83.3M	2
612	First State Trust Company	$83.3M	1
613	Regions Financial Corp	$81.1M	1
614	Transamerica Trust Company	$81.0M	1
615	Jackson National Life Distributors Llc	$80.9M	3
616	Dreyfus Soehne & Cie Ag, Banquiers	$80.5M	1
617	Reichmuth & Co. Privatbankiers	$80.3M	1
618	Gulf Coast Bank & Trust Company	$80.1M	1
619	Ucap Securities Llc	$79.6M	2
620	Pictet & Cie	$78.6M	1
621	Julius Baer Securities Inc.	$77.9M	1
622	Sei	$77.4M	4
623	Tetra Trust Company	$77.2M	1
624	John Hancock Retirement Services	$76.8M	2
625	Bnp Paribas S.A. Niederlassung Deutschland	$76.6M	1
626	Bny Wealth	$75.3M	1
627	Cbh Ltd.	$75.2M	1
628	Osaic Institutions, Inc.	$75.0M	1
629	Meitav Trade Ltd	$74.9M	1
630	Dreyfus Sons & Co Ltd. Banquiers	$74.8M	1
631	U. S. Bank Institution & Trust	$73.7M	1
632	Julius Baer Group Ltd	$71.8M	1
633	Blue Ridge Bank	$70.4M	1
634	Vontobel	$69.2M	2
635	Inteligo Group Corp.	$69.2M	1
636	Betterment Securities	$69.1M	1
637	Coinbase Custody	$69.0M	3
638	Hsbc Institutional Trust Services (Asia) Limited	$68.8M	1
639	Community National Bank	$68.6M	3
640	Argent Institutional Trust Company	$68.0M	1
641	Keb Hana Bank	$68.0M	1
642	Newport Trust Company	$67.8M	2
643	Goldman Bank Europe Se	$67.6M	1
644	Wiener Privatbank Se	$67.1M	1
645	T Rowe Price Trust Company	$66.4M	2
646	Lgt Bank (Hong Kong)	$65.3M	1
647	Morningstar Wealth International Limited	$64.5M	1
648	Hbw Inc.	$64.2M	1
649	Innovayte (Formerly Equity Advisor Solutions)	$64.0M	1
650	Bergos Ag	$63.0M	1

Uses each firm's latest annual updating amendment for FY2025. Custodian families include separately reported subsidiaries or acquired platforms. Covers advisers with separately managed accounts naming a custodian at the 10%+ threshold. Brochure-mined custodians without amounts appear on individual firm pages.