Added clarification. DRS moves shares from broker (custodial ownership) to transfer agent (individual ownership of property via 4th amendment). Under custodial ownership, the shares are actually property of the brokerage (Trust) being held "for your benefit". But if the brokerage goes bankrupt, you have no recourse to recover assets.
Added clarification. DRS moves shares from broker (custodial ownership) to transfer agent (individual ownership of property via 4th amendment). Under custodial ownership, the shares are actually property of the brokerage (Trust) being held "for your benefit". But if the brokerage goes bankrupt, you have no recourse to recover assets.