The type of account at a brokerage firm that involves the broker providing financial planning, investment management, and securities trading is the ____ account where all fees are combined into one annual fee.

Question

Quizplus · Accepted Answer

A wrap account combines all of the fees for financial planning, investment management, and securities trading into one annual fee. This type of account is often used for investors who want a more hands-off approach to managing their investments and prefer to work with a professional to make investment decisions. Margin accounts allow investors to borrow money to invest, trust accounts are typically used for estate planning purposes, and market accounts are not a type of brokerage account.

The Type of Account at a Brokerage Firm That Involves