8 Things LatAm Broker-Dealers Should Look for in a U.S. Custodian

• The LatAm fintech boom is creating new pathways to U.S. markets; choosing the right custodian may help you move faster
• Real-time, cloud-native infrastructure is becoming table stakes; broker-dealers who embrace it can deliver the digital experience investors expect
• Custodians with execution, clearing, custody, regulatory experience, and 24×5 trading offer more than access — they provide a foundation for growth

Something is shifting in Latin America. Fintech funding in the region jumped 82% year-over-year in Q3 2025,¹ and the infrastructure is catching up fast. Brazil’s Open Finance ecosystem now processes billions of API calls per month,² a sign that digital-first experiences have become table stakes. And with the securities segment projected to grow at a 32.4% CAGR through 2033,³ broker-dealers eyeing U.S. market access may be looking at one of the region’s biggest opportunities yet.

But capitalizing on that potential requires infrastructure that can keep pace. Choosing the first U.S. custodian that you come across could mean blind spots in your data, friction in your client experience, and compliance gaps that put your entire U.S. market access at risk.

So, what separates a custodian that fuels your growth from one that holds you back? Here are eight things to look for.

1. U.S. Registered Broker-Dealer Services

For LatAm broker-dealers serving Latin American clients, accessing U.S. markets requires working with a U.S. SEC- and FINRA-registered broker-dealer to execute trades and provide clearing and custody services.

While your clients may face different regulatory requirements than U.S. investors, your U.S. broker-dealer must still fully comply with SEC and FINRA requirements on the execution and custody side. This includes trade reporting, settlement through NSCC, and proper handling of non-U.S. customer accounts.

When evaluating a custodian, look for:

• A proven track record of regulatory compliance and stability
• Deep regulatory expertise across execution, clearing, and custody, with dedication to navigating evolving SEC and FINRA obligations
• The scale and stability that comes from managing billions in assets under custody and supporting millions of brokerage accounts
• A provider that’s been battle-tested through market volatility and regulatory changes, so they’re not learning lessons on your dime

A capable custodian doesn’t just execute trades — they help navigate your journey into the U.S. markets, so you can focus on your clients.

2. Real-Time, Cloud-Native Technology

Legacy custody platforms often rely on overnight batch processing. That means positions, balances, and transactions update once a day — leaving you with a blind spot in your data.

For broker-dealers serving retail investors who expect timely updates, that’s a problem. And it’s not just about client experience: Batch-based systems make it harder to manage risk, respond to market events, and operate with confidence.

The alternative is a cloud-native platform built for real-time processing — one that enables account opening in seconds and 24×5 access, without the constraints of overnight batch runs. Look for API-first architecture that integrates seamlessly with your existing systems, and infrastructure designed to scale with your growth instead of limiting it.

The LatAm fintech boom is built on speed and accessibility. To stay competitive, you’ll need infrastructure that can keep up.

3. Robust KYC/AML and Risk Management Tools

LatAm broker-dealers face scrutiny from multiple directions — and financial crimes prevention is non-negotiable when accessing U.S. markets. Global AML/KYC penalties totaled $3.8 billion in 2025,⁴ and FinCEN is expanding AML requirements to investment advisers and other financial institutions, with new rules taking effect in 2028.⁵ If your custodian’s risk management tools aren’t keeping pace, you could be exposed.

The right custodian may offer ongoing compliance monitoring that keeps pace with risk – not static snapshots that go stale. Look for event-driven watchlist monitoring that continuously scans for sanctions, adverse media, and other high-risk profiles as they emerge. Integrated AML monitoring, suspicious activity reporting, fraud detection, and trade surveillance should come standard, not as add-ons. A custodian with specialized teams dedicated to financial crimes and risk management can help you avoid building and maintaining that infrastructure yourself.

The goal isn’t just to meet today’s requirements. It’s to have a provider that helps you adapt as the landscape evolves.

4. Broad Asset Access

Your investors want access to the same products available to U.S. investors. If your custodian’s product range is limited, you’re starting at a competitive disadvantage.

Look for broad access to:

• U.S. stock market: Equities and ETFs
• Fixed income (treasuries, corporate bonds, municipal bonds, government agency bonds, Reg S bonds, CDs, and commercial paper)
• Mutual funds and options
• Fractional shares — critical for serving emerging middle-class investors with smaller account sizes
• Alternatives and global funds for diversification, including access to offshore mutual funds, UCITS funds, and ETFs

The more asset classes you can offer through one platform and integration, the more streamlined your operations — and the more compelling your offering may be to investors.

5. Wealth Management Tools That Scale

Brazil’s wealth management market is expanding, with the South America market projected to grow from USD 1.8 trillion in 2025 to USD 1.9 trillion in 2026 — and Brazil represents 75.9% of that market.⁶ As broker-dealers look to capture that growth, many are adding wealth management capabilities to their platforms. If you’re interested in building out this capability, you may want to consider a custodian that offers ready-made wealth tech tools.

Roboadvisory and advisor automation tools can also help lower the cost of servicing clients, allowing you to expand into wealth management profitably — even for smaller account sizes. Automated portfolio management features like rebalancing, goals-based investing, and direct indexing can help you deliver sophisticated wealth services without building proprietary systems.

This approach can help you reach next-gen investors earlier in their wealth accumulation journey, building relationships that grow over time. Whether you’re white labeling these tools yourself or deploying them directly, the goal is the same: add wealth capabilities without the overhead of building and maintaining that infrastructure yourself.

6. Extended Trading Hours

Standard U.S. stock market hours — 9:30 a.m. to 4:00 p.m. ET — don’t always align with your investors’ schedules or with global market events that move prices overnight.

24×5 trading gives your clients the flexibility to act when it makes sense for them, not just when the NYSE bell rings. For international investors, overnight and pre-market sessions may align more naturally with local routines. And when global news breaks outside regular hours, your clients aren’t stuck waiting to respond.

When evaluating a custodian, ask about their extended trading hours, including what kind of liquidity and execution quality they can offer outside core hours. A custodian without extended hours limits when your investors can act — and that’s a competitive disadvantage. The more hours they can trade, the more flexibility you can offer.

7. Developer-Ready Tools and Pre-Built UIs

Getting to market faster matters, especially in a region where fintech competition is heating up. But building everything from scratch can be expensive and time-consuming.

The right custodian can accelerate your timeline with:

• Flexible APIs and SDKs for custom integrations and workflows
• Pre-built, configurable UIs you can embed where you need them — without replacing your entire stack
• A modern developer portal with documentation, code samples, and sandbox access
• AI-assisted tools to help flatten the learning curve, generate code, and speed up integration
• Access to regional development specialists who can help you build customized platforms tailored to LatAm market needs

Without the right dev tools, your team could end up spending more time on integration and less time on innovation. Look for a provider that meets you where you are — and helps you get to market faster.

8. Multi-Language Investor Communications

Your investors shouldn’t have to navigate U.S. markets in a language that isn’t theirs. For LatAm broker-dealers serving Spanish- and Portuguese-speaking clients, language accessibility isn’t a nice-to-have, it’s fundamental to trust and delivering a professional service.

Custodians that provide investor communications in Spanish and Portuguese across the entire transaction lifecycle help make that possible. This includes trade confirmations, account statements, change of address notifications, and other regulatory documents. This can help reduce confusion, improve transparency, and show investors that you’ve built an experience designed for them.

Beyond basic translation, consider whether a custodian can connect you with regional development groups who can assist with building fully customized platforms that reflect local market needs. For broker-dealers operating across Latin America, the ability to serve clients in multiple languages through one integrated platform can be a significant competitive advantage.

Finding the Right Fit

The U.S. custody landscape has more options than many LatAm broker-dealers realize. The biggest name isn’t always the best fit — especially if you’re looking for digital technology, access to a broad range of asset classes, and a modern investor experience.

Apex Fintech Solutions helps LatAm fintechs, broker-dealers, and financial institutions deliver real-time access to U.S. markets. Our cloud-native platform, AscendOS™, offers reliable access to an extensive array of U.S. and offshore securities, 24×5 trading, robust risk management tools, investor communications in Spanish and Portuguese, and the developer-ready infrastructure to help you get to market faster. Apex also works with regional development specialists like ília Digital to help financial institutions build bespoke platforms tailored to LatAm market needs.

Founded in 2012, Apex now employs 1,000+ people across offices in the U.S., Northern Ireland, and the Philippines. With 40M+ brokerage accounts, and $265B+ in assets under custody, Apex has the scale and stability to support your growth.⁷

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When choosing a U.S. custody firm, reputation matters. Banco do Brasil, Bradesco, XP Securities, Avenue, and Nomad already trust Apex for the technology, stability, and expertise their businesses depend on. Ready to explore what Apex can do for you?

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