The custodian provides a physical or electronic facility to house investments. While the wealth advisor directs the investments, in all but the cases of the largest firms, the advisor does not have “custody,” or possession, of a client’s assets. Custodians may require that checks and other negotiable instruments be made out to them, not the wealth advisor. Custodians have gained increased importance in the minds of clients since the Bernie Madoff theft occurred, and clients are now paying attention to custodian selection. Wealth advisors using a large, well-known custodian help protect their clients from investment fraud. Most investment advisors use large custodian such as Fidelity, Pershing, TD Ameritrade, Citi, Charles Schwab, BNY Mellon, StateStreet or Northern Trust.