Wrap Accounts

Also known as Fund Supermarkets these facilities are becoming more common for clients and advisers alike. Examples are Cofunds, Transact,and Selestia.

A wrap account is basically a trading platform enabling investment funds, pensions, direct equity holdings and some life assurance contracts to be held in the same administrative account rather than as separate holdings. This significantly reduces the burden of paperwork and reduces costs. Switching between investments can be done electronically and valuation statements can be accessed at any time on the web. Wrap Accounts have transformed the way that advisers manage their clients' investments and they will play an increasingly important role in the future.

 

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