Building a custodian is one of the most complex challenges in financial services. It requires regulatory approval, technology infrastructure, operational resilience, and market trust. In this episode of Wealth Insider, Pieter Aartsen, Managing Director of Execution Services at AFS Group, joins Christian Lindvall to share the story behind Knox, a fully licensed Dutch custodian built from the ground up to serve independent wealth and asset managers. Pieter explains why 25 asset managers came together to create an alternative to traditional custodians, the two-year regulatory process required to secure a license, and the challenges of building a custody platform from scratch. He also discusses Knox's acquisition by AFS Group, how custody fits into AFS's broader strategy, and why deep knowledge of regulation can become a competitive advantage when building new financial infrastructure. Learn more about Performativ at performativ.com and about AFS Group at afsgroup.nl. If you enjoyed this episode, please subscribe and leave a review.