Which of the following are characteristics of a wrap account?
I. a flat amount of commission per transaction
II. an increased probability of account churning
III. a money manager
IV. detailed performance reports

Question

Quizplus · Accepted Answer

Wrap accounts typically include the services of a money manager and provide detailed performance reports. They charge a single, consolidated fee based on the total assets under management, rather than a flat commission per transaction, which reduces the likelihood of account churning.

Which of the Following Are Characteristics of a Wrap Account