ETF Wrap (Account)

Type of managed account where the client’s investment portfolio is invested solely in exchange-traded funds. The selection and composition of each ETF class is based on the appropriate asset allocation model and is periodically assessed to respond to market changes. As with most managed accounts, there is an asset-based fee charged for the account and the advisor pays transaction costs. ETF wraps often have lower expense ratios than mutual fund wraps, and offer intraday trading, tax efficiency, and other benefits.

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