wrap account

American  

noun

1. a personally managed investment account where charges are levied on the basis of the account's total assets.

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Example Sentences

For example, if, you purchase a wrap account, and, own a variety of mutual funds and other investments are “wrapped” together, the account may be subject to an annual percentage fee. 

From Forbes

For example, if, you purchase a wrap account and own a variety of mutual funds and other investments are “wrapped” together, the account may be subject to an annual percentage fee. 

From Forbes

To be sure, these costs are comparable to those of a traditional "wrap account," in which a broker spreads your money among various assets and managers.

From The Wall Street Journal

But a much greater proportion of the cost of a traditional wrap account comes from the management expenses of the underlying assets.

From The Wall Street Journal

Steve Kang, a 33-year-old office worker at a flat-panel display maker in Seoul, pulled 30 million won out of his mutual fund accounts and savings bank this month and put it into a Daewoo Securities Co. wrap account that’s based on stock picks by Brain Investment.

From BusinessWeek