Asset Managers Stand To Lose As ‘Wrap Accounts’ Send Velocity Of Money
With more and more investors seeking to reduce their cost of investing, traditional ‘load’ accounts, which impose a fee every time the investor makes a trade, are losing popularity compared to ‘wrap’ accounts.
A ‘wrap’ account is an arrangement whereby the investor pays a one-time fee (instead of recurring trading commissions) that ‘wraps’ up all the accounts being managed by the advisor or broker, and covers all transaction costs for those accounts.
ETFs and wrap accounts
Advisors can . . .
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