In India, when you trade you get an email/message from the custodian (NSDL or CDSL). The US follows a different system where you do not get the same from the Custodian.
On trading via Vested platform, you will receive a trading statement the next day. The trading statement will reflect the Broker and Custodian. Also, you may read below for more information:
● In the U.S. shares are held in street names, meaning they are held in the name of an SEC/FINRA registered broker, who carries accounts in the customer name, and which reflects the customer’s ownership.
● In any event, if you would like to obtain your account statement directly from DriveWealth, you can by emailing support@drivewealth.com.
● You may also check BrokerCheck information: (https://brokercheck.finra.org/firm/summary/165429), and other information which clearly states that DriveWealth is the authorized custodian for the customer’s accounts and shares.
● You can access DriveWealth’s Client portal as well to check about your holdings.
In summary, the US follows the custodian model and hence does not have depositories. As per SEC guidelines, if you want to confirm your share ownership within your Vested account, you can contact DriveWealth, Vested broker partner, directly at support@drivewealth.com.
