Separately, OCIE looks to expand its focus on protecting retail investors by conducting examinations of registered investment advisers and broker-dealers associated with "
wrap fee" programs.
* The portion of the
wrap fee that's paid to the portfolio manager
Chartwell provides equity and fixed-income investment strategies to institutional and private clients and clients of
wrap fee programs through separate accounts, sub-advisory relationships and mutual funds.
More importantly, for the rising number of fee-based advisors, a SPIA purchase can shift assets from an advisor's purview, where it brings a 1 percent or 2 percent management or
wrap fee into the general account of an insurance company.
Serving institutions and wealthy clients, Batman pioneered large-scale
wrap fee programs--investment plans allowing Vest affiliates to offer a fee-based alternative to charging commissions that up until then was the primary source of revenue for the financial planning industry.
Also, an advisor should be able to provide an all-inclusive
wrap fee to cover all services.
Chartwell provides equity and fixed-income investment strategies to institutional, private clients and clients of
wrap fee programs through separate accounts, sub-advisory relationships and mutual funds.
* SEC Snags Raymond James, Baird for
Wrap Fee Violations
The individual managers would charge a quarterly
wrap fee, covering all administrative and management costs, based upon a percentage of the account's value.
The SEC's list also includes examinations of advisors who have never been previously examined, including new private fund advisors,
wrap fee programs, quantitative trading models, and payments by advisors and funds to entities that distribute mutual funds.
Causeway Capital Managementprovides equity investment management services to institutional clients including corporations, pension plans, public retirement plans, sovereign wealth funds, superannuation funds, Taft-Hartley pension plans, endowments and foundations, mutual funds and other collective investment vehicles, charities, private trusts and funds,
wrap fee programs and other institutions.
The Securities and Exchange Commission today announced that two investment advisory firms are settling charges related to compliance failures within their
wrap fee programs.
