Custodian

A custodian financial institution is a company that holds customers' securities for safekeeping to prevent them from being stolen or lost. It's often a brokerage, commercial bank, or other type of institution that holds your money and investments for convenience and security. 

If you are an INVEST client, your assets are held in a brokerage account in your name at a custodian (Schwab). If you are wiring funds to your investment account, do not send money to MYRA directly. 

Cash deposits are held in Schwab are FDIC insured up to $250,000. Once cash deposits are invested in the markets, they are no longer FDIC insured, and may lose value.

Note: If you've merely linked your external accounts to MYRA so you can view them in your dashboard, your accounts remain at the custodian. This only pertains to INVEST accounts.