9 ways advisers may have custody without knowing it
![Custody status, from a regulatory perspective, almost never means having physical possession of a client's assets.
But if an adviser is appointed through a power of attorney document to manage a client's financial affairs, that needs to be noted on the Form ADV.](https://s32566.pcdn.co/wp-content/uploads/2019/10/FREE_100509999_PH_2_JYBLGWZWAKLL.jpg.optimal.jpg)
Custody status, from a regulatory perspective, almost never means having physical possession of a client's assets.
But if an adviser is appointed through a power of attorney document to manage a client's financial affairs, that needs to be noted on the Form ADV.