This link takes you to an external website or app, which may have different privacy and security policies than U.S. Bank. We don't own or control the products, services or content found there.
End of pop up window. Press escape to close or press tab to navigate to available options.
Question 1: What work do you outsource?
Outsourcing, or contracting work to an outside party, can be done for a variety of reasons. It becomes problematic if communications gaps emerge – which may lead to errors, delays or a decline in quality. However, it can also present some potential advantages:
Question 2: How much outsourced work is offshored?
Offshoring, or outsourcing work to a vendor in another (usually less-expensive) country, can be done for similar reasons – but usually cost cutting is the primary driver. When a service partner offshores key functions, additional risks emerge. Complications to consider include:
Question 3: How will your outsourcing/offshoring impact my day-to-day activities?
Work that’s outsourced – and specifically offshored – can often add disruptions to the course of daily operations. The best partners prioritize proactiveness, responsiveness and flexibility to ensure you’re able to get what you need when you need it. Ask these questions to assess compatibility:
Question 4: How do you maintain regulatory compliance?
A great wealth of experience, expertise and technology often resides in a custody provider like U.S. Bank. Relying on the centralized resources of a knowledgeable partner can be a key step toward staying in sync with regulators and best practices.
Compliance becomes more difficult when a provider adds additional links to the outsourcing chain. Keeping vendors in check requires diligent oversight, so you should confirm that your custody provider has a framework in place to ensure governance, manage risk and maintain business continuity.
Question 5: Do the potential cost savings outweigh the potential financial and reputational risks?
Every situation is unique, so it’s crucial to find the right custody provider that’s best suited to your specific needs. It’s important to assess your short- and long-term goals to determine the best balance of potential cost savings to potential risk.
The client-provider relationship often suffers when a provider starts offshoring too many essential functions, which can in turn reduce the control of the client and custodian. If your provider is outsourcing tasks and you feel it’s impacting their level of service, that’s a clear sign it’s time to reassess.
Learn how we can help you with your custody needs. Visit us at usbank.com/custody.
Investment and Insurance products and services including annuities are:
Not a Deposit ● Not FDIC Insured ● May Lose Value ● Not Bank Guaranteed ● Not Insured by any Federal Government Agency
U.S. Wealth Management – U.S. Bank and U.S. Bancorp Investments is the marketing logo for U.S. Bank and its affiliate U.S. Bancorp Investments.
The information provided represents the opinion of U.S. Bank and U.S. Bancorp Investments and is not intended to be a forecast of future events or guarantee of future results. It is not intended to provide specific investment advice and should not be construed as an offering of securities or recommendation to invest. Not for use as a primary basis of investment decisions. Not to be construed to meet the needs of any particular investor. Not a representation or solicitation or an offer to sell/buy any security. Investors should consult with their investment professional for advice concerning their particular situation.
U.S. Bank, U.S. Bancorp Investments and their representatives do not provide tax or legal advice. Your tax and financial situation is unique. You should consult your tax and/or legal advisor for advice and information concerning your particular situation.
For U.S. Bank:
Equal Housing Lender.
Deposit products are offered by U.S. Bank National Association. Member FDIC. Mortgage, home equity and credit products offered by U.S. Bank National Association. Loan approval is subject to credit approval and program guidelines. Not all loan programs are available in all states for all loan amounts. Interest rates and program terms are subject to change without notice.
U.S. Bank is not responsible for and does not guarantee the products, services or performance of U.S. Bancorp Investments, Inc.
For U.S. Bancorp Investments:
Investment and insurance products and services including annuities are available through U.S. Bancorp Investments, the marketing name for U.S. Bancorp Investments, Inc., member FINRA and SIPC, an investment adviser and a brokerage subsidiary of U.S. Bancorp and affiliate of U.S. Bank.
U.S. Bancorp Investments is registered with the Securities and Exchange Commission as both a broker-dealer and an investment adviser. To understand how brokerage and investment advisory services and fees differ, the Client Relationship Summary and Regulation Best Interest Disclosure are available for you to review.
Insurance products are available through various affiliated non-bank insurance agencies, which are U.S. Bancorp subsidiaries. Products may not be available in all states. CA Insurance License #OE24641.
Pursuant to the Securities Exchange Act of 1934, U.S. Bancorp Investments must provide clients with certain financial information. The U.S. Bancorp Investments Statement of Financial Condition is available for you to review, print and download.
The Financial Industry Regulatory Authority (FINRA) Rule 2267 provides for BrokerCheck to allow investors to learn about the professional background, business practices, and conduct of FINRA member firms or their brokers. To request such information, contact FINRA toll-free at 1.800.289.9999 or via https://brokercheck.finra.org. An investor brochure describing BrokerCheck is also available through FINRA.
U.S. Bancorp Investments Order Processing Information.
© 2021 U.S. Bancorp