Cheaper, more paperless and early to market, the Dallas-based clearing house/broker-dealer is out to protect its lead as big RIA custodians play robo catch-up Asset custody is a netherworld that is everywhere and nowhere all at once. As such, they occasionally pop up from nowhere, as was the case with State Street’s RIA unit. Other good custodians that don’t make the news include: Trust Company of America, Trade-PMR, Folio Institutional and Shareholders Service Group Inc.. Talk to the RIAs that use these firms. They really like them and recognize them for ably filling niches. But it turns out there was one more niche, perhaps the mother of them all, and Apex Clearing is making a righteous bid to fill it.

http://www.riabiz.com/a/4977738934910976/as-robo-advisors-rise-a-robo-custodian-in-apex-is-rising-them-a-diamond-mined-from-the-rubble-of-the-penson-worldwide-debacle