The contract should provide that it can be terminated by you at any time or at a relatively short period of time (for example. B 30 days) without penalty. If you are not satisfied with the advisor, you should be able to end the relationship at no additional cost. The agreement should designate the depositary who will keep the assets in the account. The custodian bank should be a serious financial organization, for example. B a large bank or brokerage firm, and should be independent of the consultant (again to avoid Madoff`s situation). When recommending a specific deposit bank, the advisor should explain the basis for their recommendation (e.g. B cost reduction, improvement of services or familiarization of the consultant with the depositary`s staff and systems). The advisor should also be prepared to work with the custodian bank you would currently use or prefer elsewhere. .