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 (TD Ameritrade). If you are wiring funds to your investment account, do not send money to MYRA directly.
Cash deposits are held in the TD Ameritrade Insured Deposit Account, which is 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.