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Wrap or wrap accounts

• Refer to accounts domiciled at brokerage firms for which the client or beneficial owner of the account pays a fee. This fee is often in lieu of paying commissions at least for a certain level of activity. The amount of the fee structure typically ranges between 1-2 percent of the assets. Sometimes, the brokerage firm offers debit/credit cards collateralized by the underlying securities in the account. There may also be check/draft writing privileges. If transactions are relatively few this may be an expensive way to maintain an account because the client is charged whether there is activity or not.

 
 Embedded terms in definition
 Assets
Cards
Firm
Securities
Underlying
 
 Related Terms
 Accounts payable
Accounts payable management
Accounts receivable
Accounts receivable turnover
Aging of accounts receivable
Average age of accounts receivable
Chart of accounts
Factoring accounts receivable
Ira/keogh accounts
Now accounts
Passbook savings accounts
Pledge of accounts receivable
Stretching accounts payable

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