Which entity acts as custodian of client assets, and is it a separate legal entity from the operator?
Answered for 3 of 6 firms. The client agreement or a filed document identifying the custodian. Where custody is outsourced, registry confirmation that the named custodian is a distinct registered company. Where the operator states it custodies client assets itself, that statement is the answer.
FREETRADE LIMITED
VerifiedWe act as the custodian of the Investments in your Freetrade Account(s), which means that we keep them in safe custody for you and treat them as 'client assets'
The client agreement states that Freetrade acts as the custodian of the investments in the customer's Freetrade Account, keeping them in safe custody and treating them as client assets.
Binding document · Freetrade Limited · custody clause · Check the source
HLPT has appointed HLAM as custodian of the non-cash assets and investments, which are held on its behalf in accordance with section A22.
The client agreement states that HLPT appointed HLAM as custodian of the non-cash assets and investments held in PMS SIPP Accounts, which are held on HLPT's behalf.
Binding document · Hargreaves Lansdown Asset Management Limited · Check the source
a member of the Hargreaves Lansdown Group, who is the nominal holder, or has some other form of custody, over your registered investments
The agreement identifies a member of the Hargreaves Lansdown Group as the entity that is the nominal holder or otherwise has custody over the client's registered investments.
Binding document · Hargreaves Lansdown Asset Management Limited · Check the source
“HL Nominees” means Hargreaves Lansdown (Nominees) Limited, a company incorporated and registered in England and Wales with company number 01824226 whose registered office is 1 College Square South, Anchor Road, Bristol, BS1 5HL;
HL Nominees is defined as Hargreaves Lansdown (Nominees) Limited, a separately incorporated company with its own company number, registered in England and Wales.
Binding document · Hargreaves Lansdown Asset Management Limited · Check the source
HL Nominees is a non-trading company set up to hold investments on behalf of our clients. HLAM is responsible and liable for HL Nominees to the same extent as for its own acts.
The document states that HL Nominees is a non-trading company set up to hold investments on behalf of clients, and HLAM is responsible and liable for HL Nominees to the same extent as for its own acts.
Binding document · Hargreaves Lansdown Asset Management Limited · Check the source
MONZO BANK LIMITED
VerifiedOur Investment Services Partner is Seccl Custody Limited (“Secclˮ), a company authorised and regulated by the Financial Conduct Authority (“FCAˮ).
The document names Seccl Custody Limited, a separate FCA-authorised and regulated company, as the Investment Services Partner providing custody services.
Binding document · Monzo Bank Limited · Check the source
STARLING BANK LIMITED
Does not applyThe FCA Register records ten regulated activity permissions for this firm, none of which is safeguarding and administration of assets. The firm holds no client securities, so the question of which entity custodies them and whether it is separate from the operator cannot arise
TRADING 212 UK LIMITED
Not foundNo qualifying source was located within the evidence window. This records what we could not confirm, and carries no inference about the firm.
WISE PAYMENTS LIMITED
Does not applyThe FCA Register records this firm's permissions as payment services and electronic money issuance only, with no permission for safeguarding and administration of assets. The firm holds no client securities, so the question of which entity custodies them and whether it is separate from the operator cannot arise
Every firm here was asked the same question against the same published standard, and every answer quotes the passage it came from. Where the answers differ, the difference is in the firms’ own documents, not in how we read them.
Darker text marks stronger evidence. A statutory register prints at full strength; a firm’s own marketing prints lighter. The methodology sets out the weightings.