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InvestHub.com's
Finance Dictionary and Glossary of Investment Terms

wrap account  

Definition 1.

Account in which a brokerage helps an investor find a money manager in exchange for a flat quarterly or annual fee, which covers all administrative and management expenses. sometimes also includes funds of funds.
 

Definition 2.

An investment account in which the investor receives brokerage and other investment services for a single, predetermined price -- usually a percentage of assets ranging from 1 percent to 3 percent. Wrap accounts have gained popularity in recent years, in part because many investors got tired of putting their money into funds that ""nickel-and-dimed"" them with smaller fees.A wrap fee can also remove the temptation for a broker to repeatedly buy and sell (churn) for the sole purpose of generating commissions.
 

Definition 3.

An investment consulting relationship for management of a client's funds by one or more money managers, that bills all fees and commissions in one comprehensive fee charged quarterly.
 

Definition 4.

An account in which a brokerage manages an investor's portfolio for a flat quarterly or annual fee. This fee covers all administrative, commission, and management expenses. Sometimes this also includes funds of funds.
 
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