wrap fee
n.— «It allows broker-dealers to charge fees based on assets under management (sometimes referred to as a “wrap fee”) rather than product commissions—just as the registered investment advisers do. If the client’s portfolio goes up in value, so does the broker’s compensation. Brokers no longer have to push products to earn a reasonable return from their clients.» —“The Minnesota Investor: A ruling for the clients” by Gene Walden Star Tribune (Minneapolis-St. Paul, Minnesota) July 7, 2007. (source: Double-Tongued Dictionary)
Further reading
After our conversation about towns with extremely short names, many listeners wrote to tell us about Why, Arizona. Others pointed out that there are towns called Ely in Iowa, Minnesota, and Nevada. Other super-short appellations include Rye, New...
Joey from Orono, Minnesota, has been learning Italian and its many idioms, which makes him wonder if there are other languages that can simply be learned in a classroom without input from a larger cultural context of new and evolving expressions...