Core Custody Services
Salem Trust performs the services of a custodian bank. Our government retirement plan and institutional clients experience these familiar asset and safekeeping services, delivered with uncommon support:
- Attendance at trustee and client meetings
- Statements that easily consolidate sub-accounts
- Client-selected sub-accounts that quickly distinguish separately managed accounts (SMAs), mutual funds and operating accounts
- Client-selected statement format selection (trade date, settlement date, executive summary), with flexibility for service providers to select a different format
- Processing of affirmed and non-affirmed security trades from U.S. exchanges
- Fraud prevention through online access to a non-transactional portal with access hierarchy and client-customized reports
- Asset pricing of marketable, non-marketable and hard-to-value assets
- Collection of income and dividends
- Pay down processing of mortgage and asset-backed securities
- Cash management from automated sweep services and an integrated cash report
- Internal free receipts and deliveries
- Support of proxy voting and tendering
- Corporate action processing
- Tax reporting
