If you buy 1000 shares of Verizon in your Fidelity or Schwab account, State Street Bank will be the custodian. They are only responsible for the tracking the book-entry ownership of the shares. Your brokerage will still send you the proxy materials, and you will still be the only one who can vote the shares. State Street has no power to do anything except transfer the stock to another owner when told to do so.
Didn’t know that, thanks. But do they all work like State Street Bank - paticularly Goldman Sachs?