commissions for discretionary and non-discretionary investment advisory services by securities companies are based on the total assets under management rather than investment performance.
QMY bank has sent me details of something called a Wrap Account
For such people, the wrap account
would be a convenient service.
Morris said it has transformed from an asset-gathering organization that sold variable annuities and mutual funds into an organization with full trading capabilities, including wrap accounts
, separately managed accounts and fee-based planning, all initiatives to give Signator's agents the ability to "compete in a world that's not just an insurance world today.
Pittsford says, "Fees are coming down for Wrap accounts
- and that's good.
were designed to give investors professional management with an all-inclusive fee in lieu of commissions.
Ruff also does mutual fund wrap accounts
where the client pays a single management fee with no additional transaction costs.
By providing professional money management for a flat fee, wrap accounts
offer investors and small institutions the same services enjoyed by the largest institutional investors.
In addition, it provides wealth management services consisting of brokerage and asset management consulting services through the development and sale of various financial products, such as beneficiary certificates, bond investments, mutual funds, equity-linked securities, CP, RP, and WRAP accounts
enable advisers and clients to view, record, transact and update all of their financial affairs through one wealth management service.
To counter challenges by the big banking groups, major securities houses are trying to lure individual clients by offering wrap accounts
, which are accounts in which brokerages manage investors' portfolios and offer advice for a flat fee.
She oversees the investment/income portfolio, which includes fixed and variable annuities, mutual funds, brokerage accounts, wrap accounts
and all savings vehicles.