WRAP ACCOUNTS

I can't believe this person said this in his out loud voice: Wrap accounts free up advisors from having to concern themselves with asset allocation, oversight and monitoring the mix of client portfolios. “What advisors do best is manage the client relationship and build their businesses.” Brian Moore, senior vice president of marketing at CI Mutual funds Inc. Investment Executive March 2005, page 31

I would never, ever, consider a wrap account. There are fees on top of fees. A wrap is a bundle of mutual funds. The average fund contains over 150 stocks. Why would you want a bundle of funds…say seven funds? Then your would own over 1000 stocks. Why? Financial advisers make them sound terrific. Beware.

wrap_accounts.txt · Last modified: 2009/05/12 07:26 by tom
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